High Court of KeralaWP(C)/24470/2015disposed of

V.K.Karim v. Sundaram Bnp Paribas Home Finance Limited

2015-08-12Honourable Mr. Justice A.Muhamed Mustaque3 pages

IN THE HIGH COURT OF KERALA AT ERNAKULAM

PRESENT:

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE WEDNESDAY, THE 12TH DAY OF AUGUST 2015/21ST SRAVANA, 1937 WP(C).No. 24470 of 2015 (G) --------------------------------------- PETITIONER(S):

---------------------- V.K.KARIM, AGED 44 YEARS, S/O.KABEER, SOURIYATH MANZIL, KARAYANKAD, VADAKKANCHERRY P.O., PALAKKAD DISTRICT-678683. BY ADVS.SRI.BINOY VASUDEVAN SMT.P.G.BABITHA RESPONDENT(S):

------------------------- 1.

SUNDARAM BNP PARIBAS HOME FINANCE LIMITED, SUNDARAM TOWER, 4TH FLOOR, NO.46, WHITES ROAD, ROYAPETTAH, CHENNAI-600014, REPRESENTED BY ITS GENERAL MANAGER.

THE AUTHORIZED OFFICER, SUNDARAM BNP PARIBAS HOME FINANCE LIMITED, SUNDARAM TOWER, 4TH FLOOR, NO.46, WHITES ROAD, ROYAPETTAH, CHENNAI-600014, REPRESENTED BY ITS GENERAL MANAGER.

THE BRANCH MANAGER, SUNDARAM BNP PARIBAS HOME FINANCE LIMITED, 15/513(50) 1ST FLOOR, AKSHAYA FOUNDATION STADIUM BYE PASS ROAD, PALAKKAD-678001.

BY SRI.S.EASWARAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 12-08-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WP(C).No. 24470 of 2015 (G) --------------------------------------- APPENDIX PETITIONER(S)' EXHIBITS ------------------------------------- EXHIBIT-P1:

TRUE COPY OF THE DOCUMENT NO.1884/12 OF SRO VADAKKANCHERRY EXHIBIT-P2:

TRUE COPY OF THE LOAN OFFER LETTER ISSUED BY THE RESPONDENT BANK EXHIBIT-P3:

TRUE COPY OF THE STATEMENT OF ACCOUNTS ISSUED BY THE R3 FOR THE PERIOD 1-4-12 TO 31/3/13 EXHIBIT-P4:

TRUE COPY OF THE STATEMENT OF ACCOUNTS ISSUED BY THE R3 FOR THE PERIOD 1-4-13 TO 31/3/15 EXHIBIT-P5:

TRUE COPY OF THE STATEMENT OF ACCOUNTS ISSUED BY THE R3 FOR THE PERIOD 1-4-14 TO 31/3/15 EXHIBIT-P6:

TRUE COPY OF THE STATEMENT OF ACCOUNTS ISSUED BY THE R3 FOR THE PERIOD 1-4-15 TO 6/8/15 EXHIBIT-P7:

TRUE COPY OF THE NOTICE ISSUED UNDER RULE 8(1) OF THE SECURITY INTEREST ENFORCEMENT RULES, BY THE R2 RESPONDENT(S)' EXHIBITS --------------------------------------- NIL.

/ TRUE COPY / P.S. TO JUDGE PJ

A. MUHAMED MUSTAQUE, J.

-------------------------------------------- W.P(C). No. 24470 of 2015 ------------------------------------------- Dated this the 12th day of August, 2015

J U D G M E N T

The petitioner availed a loan from the respondent institution. Petitioner has approached this Court challenging SARFAESI proceedings.

Learned counsel for the petitioner submits that, the petitioner is prepared to clear the overdue amount and the respondent may be directed to regularise the account. 3.

Learned counsel for the respondent submits that the overdue amount is around 16,00,000/-.

₹ 4.

Considering the facts and circumstances, the petitioner is directed to remit the overdue amount along with regular EMI in six instalments starting from August, 2015, onwards. If the petitioner remits the amount as above, the respondent shall regularise the account. However, if the petitioner commits default in remitting any one of the instalments, the Bank is free to proceed against the petitioner.

This writ petition is disposed of.

Sd/- A. MUHAMED MUSTAQUE, JUDGE.