Suresh C.U. Vs. the Housing Development Finance Corporation

Suresh C.U. vs The Housing Development Finance Corporation

Type Court Judgment Court Kerala Decided Feb 01, 2013

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Citation: sooperkanoon.com/1012886
Court: Kerala High Court
Judge: Honourable Mr.Justice Antony Dominic
Decided On: Feb 01, 2013
Subject: Education

Case Summary

AI-generated summary - not the official court judgment text.

Education

Key legal issue: Education

Parties & Advocates

Appellant / Petitioner

Suresh C.U.

Respondent

The Housing Development Finance Corporation

Excerpt

.....officer, under the sarfaesi act,hdfc bank,ravipuram, ernakulam ”011. by sri. k.k. chandran pillai, senior adovcate, adv.sri.arun antony. this writ petition (civil) having come up for admission on 01-02-2013, the court on the same day delivered the following: prv. w.p.(c). no.3122/2013-m: appendix petitioner's exhibits: ext.p.1: copy of the loan agreement executed by the petitioner. ext.p.2: copy of the notice under section 1 (4) of the act. respondents' exhibits: nil. //true copy// p.a. to judge prv. antony dominic, j.------------------------------------------- w.p(c).no.3122 of 2013 ------------------------------------------- dated this the 1st day of february, 2013 judgment 1 the petitioner availed of a loan of `6,00,000/- from the respondent bank in 2007. default was committed and therefore, sarfaesi proceedings were initiated. it is at that stage, this writ petition is filed seeking a direction to the respondent to regularise the loan. 2.the request for regularisation of a loan can be considered only if the defaulter clears the outstanding dues. according to the standing counsel for the bank, the present outstanding dues is `1,02,000/-,. therefore, i direct the petitioner to pay the outstanding dues in two equal monthly instalments, the first of which to be paid on or before 20.02.2013 and the second, on or before 20.03.2013. along with the instalments, the current emi shall also be paid. if amounts are paid as aforesaid, the loan is regulaised and the petitioner will be allowed to pay the balance liability as per the loan agreement. wpc.3122/1”3. subject to payments as above, coercive action will stand deferred and in case of default, the respondent bank will be free to continue with the recovery proceedings. the writ petition is disposed of as above. sd/- antony dominic judge kkb.1/2.

Full Judgment

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE ANTONY DOMINIC FRIDAY, THE 1ST DAY OF FEBRUARY 2013 12TH MAGHA 193 WP(C).No. 3122 of 2013 (M) -------------------------------------- PETITIONER: ------------------- SURESH C.U, S/O.UNNIKRISHNAN,A3,NINE STAR APARTMENTS, AYYAMPILLY CHIRA LANE,PISHARIKOVIL ROAD,EROOR P.O, ERNAKULAM 68 306. BY ADVS.SRI.R.MANOJ, SMT.SINDHU MANOJ, SMT.P.P.BLESSY MOL. RESPONDENTS: ----------------------- 1. THE HOUSING DEVELOPMENT FINANCE CORPORATION, REPRESENTED BY ITS AUTHORISED OFFICER,RAVIPURAM, ERNAKULAM ”

011.

2. THE AUTHORISED OFFICER, UNDER THE SARFAESI ACT,HDFC BANK,RAVIPURAM, ERNAKULAM ”

011. BY SRI. K.K. CHANDRAN PILLAI, SENIOR ADOVCATE, ADV.SRI.ARUN ANTONY. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01-02-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: Prv. W.P.(C). NO.3122/2013-M: APPENDIX PETITIONER'S EXHIBITS: EXT.P.1: COPY OF THE LOAN AGREEMENT EXECUTED BY THE PETITIONER. EXT.P.2: COPY OF THE NOTICE UNDER SECTION 1 (4) OF THE ACT. RESPONDENTS' EXHIBITS: NIL. //TRUE COPY// P.A. TO JUDGE Prv. ANTONY DOMINIC, J.

------------------------------------------- W.P(C).No.3122 of 2013 ------------------------------------------- Dated this the 1st day of February, 2013 JUDGMENT 1 The petitioner availed of a loan of `6,00,000/- from the respondent bank in 2007. Default was committed and therefore, SARFAESI proceedings were initiated. It is at that stage, this writ petition is filed seeking a direction to the respondent to regularise the loan. 2.The request for regularisation of a loan can be considered only if the defaulter clears the outstanding dues. According to the standing counsel for the bank, the present outstanding dues is `1,02,000/-,. Therefore, I direct the petitioner to pay the outstanding dues in two equal monthly instalments, the first of which to be paid on or before 20.02.2013 and the second, on or before 20.03.2013. Along with the instalments, the current EMI shall also be paid. If amounts are paid as aforesaid, the loan is regulaised and the petitioner will be allowed to pay the balance liability as per the loan agreement. WPC.3122/1”

3. Subject to payments as above, coercive action will stand deferred and in case of default, the respondent bank will be free to continue with the recovery proceedings. The writ petition is disposed of as above. Sd/- ANTONY DOMINIC Judge kkb.1/2.

Same Court & Year Kerala · 2013 Same Parties Suresh C.U. vs The Housing Development Finance Corporation Same Subject Education Same Judge Honourable Mr.Justice Antony Dominic