Disposed

Mr. Nagaraju M N v. Housing Development Finance Corporation Ltd.

Karnataka HC22 Nov 2023WP/23596/2023

Case brief

AI extract

What is this about?

This writ petition challenged the Respondent Bank to regularise the Petitioner's loan account. The Court granted an interim extension for depositing funds and ultimately disposed of the petition upon confirmation of compliance and regularization of the account.

What did the court decide?

Writ petition disposed of after regularization of account. Liberty reserved to approach appropriate fora if need arises.

Mr. Nagaraju M N Vs Housing Development Finance… — Banking and Recovery | Karnataka HC (2023)

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1 - NC: 2023:KHC:42138 WP No. 23596 of 2023

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 22^ND DAY OF NOVEMBER, 2023

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BEFORE

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THE HON'BLE MR JUSTICE M.NAGAPRASANNA

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WRIT PETITION NO. 23596 OF 2023 (GM-RES)

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BETWEEN:

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MR. NAGARAJU M N S/O SRI NAGAIAH, AGED 43 YEARS RESIDING AT FLAT NO.128, 6TH CROSS, SHESHADRINAGARA, BAGALAGUNTE VILLAGE, NAGASANDRA POST, BENGALURU - 560073 …PETITIONER

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(BY SRI. SANDHYA U. PRABHU, ADVOCATE)

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AND:

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HOUSING DEVELOPMENT FINANCE CORPORATION LTD, (HDFC Ltd.,) REPRESENTED BY ITS AUTHORIZED OFFICER NO.51, HDFC HOUSE, KASTURBA ROAD, BENGALURU - 560001 …RESPONDENT (BY SRI. FRANCIS XAVIER, ADVOCATE) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO DIRECT THE RESPONDENT BANK TO REGULARISE THE LOAN ACCOUNT OF THE PETITIONER MENTIONED IN ANNEXURE-A DTD 15.03.2023.

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Digitally signed by PADMAVATHI B K Location: HIGH COURT OF KARNATAKA

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THIS PETITION, COMING ON FOR PRELIMINARY HEARING 'B' GROUP, THIS DAY, THE COURT MADE THE FOLLOWING:

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NC: 2023:KHC:42138 WP No. 23596 of 2023

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ORDER

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The petitioner is before this Court seeking for the following prayer:

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" PRAYER

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Wherefore, the Petitioner humbly prays that this Hon'ble Court may be pleased to;

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a) Issue a writ of mandamus directing the respondent bank to regularise the loan account of the petitioner mentioned in Annexure-A dated 15/03/2023

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b) Grant any other relief as this Hon'ble court deems fit in the facts and circumstances of the case including awarding costs, in the interest of justice and equity."

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This Court on 25.10.2023 had passed the following

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order:

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" ORDER

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Heard the learned counsel for petitioner.

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Issue emergent notice to the respondent.

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Learned counsel for petitioner is also permitted to serve a copy of the notice upon the standing counsel representing the respondent.

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3 - NC: 2023:KHC:42138 WP No. 23596 of 2023

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The petitioner is before this Court in effect seeking extension of the time that is granted by the Debt Recovery Tribunal to deposit the amount. The amount was directed to be deposited in two equal installments of Rs.8,79,000/- each.

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Learned counsel for the petitioner submits that an amount of Rs.2,76,000/- is already deposited to the bank in furtherance of the directions of the DRT and seeks two more weeks time to make deposit in its entirety.

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Owing to the peculiar circumstance, I deem it appropriate to grant time upto 17.11.2023, to comply with the orders passed by the DRT in its entirety.

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It is made clear that in the event, the order is not complied on or before 17.11.2023, the petition would meet its dismissal.

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List the matter on 17.11.2023.

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Hand delivery of the order is permitted."

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The interim order is complied with. Noticing the compliance, on 18.11.2023, this Court had passed the following order:

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4 - NC: 2023:KHC:42138 WP No. 23596 of 2023

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" ORDER

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Learned counsel for the petitioner submits that the interim order has been complied and the counsel for the respondent acknowledges such compliance.

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What remains according to the learned counsel for the petitioner is regularization of the account.

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List this matter on 22.11.2023.

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Interim order, if subsisting, as on date, is extended till the next date of hearing."

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The learned counsel Sri.Francis Xavier, representing the respondent submits that the account has been made regular pursuant to the receipt of the amount and he further submits that there are two more cases pending one in W.P.No.12204/2023 and another in S.A.No.422/2023 before the Debts Recovery Tribunal.

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The learned counsel appearing for the petitioner submits that those two petitions would be withdrawn in the light of the regularization of the account and would further seek

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NC: 2023:KHC:42138 WP No. 23596 of 2023

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liberty to knock at the doors of the appropriate fora, in the event need arises.

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Reserving such liberty and recording the

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undertaking, the writ petition is disposed.

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Sd/JUDGE

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KG List No.: 1 Sl No.: 32

Mr. Nagaraju M N v. Housing Development Finance Corporation Ltd.

Case brief

What is this about?

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Mr. Nagaraju M N v. Housing Development Finance Corporation Ltd.

Case brief

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