IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT: THE HONOURABLE MR.JUSTICE P.R.RAMACHANDRA MENON FRIDAY, THE31T DAY OF JANUARY201411TH MAGHA, 1935 WP(C).No. 2829 of 2014 (C) --------------------------- IN MC2142013 of CHIEF JUDICIAL MAGISTRATE, ALAPPUZHA PETITIONER(S): --------------- 1. SUJITHAKUMARY S., SYAMALALAYAM, ARUNUTTIMANGALAM P.O., MAVELIKKARA, ALAPUZHA DISTRICT-690102.
2. JAYAN B., SYAMALALAYAM, ARUNUTTIMANGALAM P.O., MAVELIKKARA, ALAPUZHA DISTRICT-690102. BY ADV. SRI.UNNI. K.K. (EZHUMATTOOR) RESPONDENT(S): ------------- 1. AUTHORIZED OFFICER, HOUSING DEVELOPMENT FINANCE CORPORATION LTD. HDFC HOUSE, VAZHUTHACAUD P.B.NO.2288, THIRUVANANTHAPURAM-695010.
2. CHAIRMAN AND MANAGING DIRECTOR, HOUSING DEVELOPMENT FINANCE CORPORATION LTD., REGD. OFFICE RAMON HOUSE, H.T.PAREKH MARG, 169 BACKBAY RECLAMATION, CHURCHGATE, MUMBAI-400 020. R1 & 2 BY ADV. SRI.K.K.CHANDRAN PILLAI (SR.) R1 & 2 BY ADV. SRI.THOMAS JAMES MUNDACKAL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON3101-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: rvs/ WP(C).No. 2829 of 2014 (C) APPENDIX PETITIONER(S)' EXHIBITS : ------------------------ EXHIBIT P1 : TRUE COPY OF THE LOAN AGREEMENT ISSUED BY R1 WITH REGARD TO THE LOAN ACCOUNT NOS.313541729. EXHIBIT P2 : TRUE COPY OF THE DEMAND NOTICE ISSUED BY R1 ON285-2012. EXHIBIT P3 : TRUE COPY OF THE JUDGMENT
DT.3-10-2012 OF THE HON'BLE HIGH COURT OF KERALA IN WPC2283312. EXHIBIT P4 : TRUE COPY OF THE DEMAND DRAFT SHOWING THE LAST INSTALLMENT OF RS.27,000 ON1012-2012. EXHIBIT P5 : TRUE COPY OF THE LETTER ISSUED BY THE RESPONDENTS ON134-2013. EXHIBIT P6 : TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DT.17-1-2014. RESPONDENT(S)' EXHIBITS ------------------------ NIL. /true copy/ P.A.TO JUDGE P.R. RAMACHANDRA MENON, J.
.............................................................................. W.P.(C)No.2829 OF2014......................................................................... Dated this the 31st January, 2014
JUDGMENT
The petitioners had availed a housing loan of Rs.2.5 lakhs from the first respondent Bank/HDFC in the year 2007 creating security interest over the property in question. By virtue of the default on the part of the petitioners, the account came to be declared as 'NPA' and the Bank proceeded with the steps under the SARFAESI Act which was sought to be intercepted by filing W.P.(C)22833 of 2012. The said case was disposed of as per Ext.P3 judgment, permitting the petitioner (the first petitioner herein) to satisfy the entire overdue amount in respect of the defaulted installments by way of three equal monthly installments, subject to which the loan account was ordered to be regularised. It was also made clear therein, that in case of default, the Bank was free to continue the recovery proceedings. The case of the petitioners is that, the first petitioner was satisfying the amount as directed by this Court and the loan account was regularised. However, it is stated that there occurred some defaults and without issuing any further notice, the Bank proceeded with steps under the SARFAESI Act, including by W.P.(C)No.2829 OF20142 getting an Advocate Commissioner appointed on filing a petition under Section 14 of the 'Act' before the CJM Court, Alappuzha, who in turn has issued Ext.P6 notice for taking physical possession of the property. This made the petitioners to approach this Court.
2. The learned Standing Counsel appearing for the respondent Bank,on instruction, submits that the version of the petitioners is not at all true and that the petitioners are chronic defaulters in so far as they are not at all interested in clearing the due amount. It is stated that the discretionary jurisdiction exercised by this Court as per Ext.P3 enabling the first petitioner to have the loan account regularised is not properly made use of and admittedly there is default. It is brought to the notice of this Court that an amount of Rs.3,17,266/- is due as on today.
3. After hearing both the sides, this Court finds it fit and proper to give one more opportunity to the petitioners to save their property. In the said circumstances, the petitioners are directed to clear the entire liability by way of '10' E.M.Is, the first of which shall be effected on or before 28.02.2014, to be followed by similar installments to be effected on or before the W.P.(C)No.2829 OF20143 28th of the succeeding months. Subject to the above, the revenue recovery proceedings, if any, proposed to be initiated against the petitioners and their property will be kept in abeyance. It is made clear that if any default is committed by the petitioners in remitting any of the monthly installments as above, the respondent Bank will be at liberty to proceed with further steps from the stage where it stands now, for realisation of the amount in a lump. The Writ Petition is disposed of as above. P.R.RAMACHANDRA MENON JUDGE lk