Allowed

Chandrangathan v. the Authorised Officer

Kerala HC17 Sept 2012WP(C)/17987/2012

Case brief

AI extract

What is this about?

In a housing loan default case, the High Court of Kerala directed the petitioner to pay defaulted dues and current installments in two months to defer coercive action and regularize the loan.

What did the court decide?

Petitioner directed to pay defaulted dues and installments in two installments by 29.9.2012 and 29.10.2012; coercive action deferred and loan regularized upon payment.

Chandrangathan Vs the Authorised Officer — Contract and Commercial Disputes | Kerala HC (2012)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT:

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THE HONOURABLE MR.JUSTICE ANTONY DOMINIC

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MONDAY, THE 17TH DAY OF SEPTEMBER 2012/26TH BHADRA 1934

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WP(C).No. 17987 of 2012 (W)

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PETITIONER(S):

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CHANDRANGATHAN,

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S/O. PURUSHAN, ALUMCHIRA VEEDU, THATHAMPALLY P.O., ALAPPUZHA-688 013.

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BY ADV. SRI.B.PRAMOD

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RESPONDENT(S):

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1. THE AUTHORISED OFFICER, THE FEDERAL BANK LIMITED, SREE RAJA RAJESWARI BUILDINGS, CHURCH ROAD, ALAPPUZHA-688 013.

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2. THE FEDERAL BANK LIMITED, ALAPPUZHA BRANCH, SREE RAJA RAJESWARI BUILDINGS, CHURCH ROAD, ALAPPUZHA, REPRESENTED BY ITS MANAGER, PIN-688 013.

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BY ADV. SRI.GEORGE VARGHESE (MANACHIRACKEL) SMT.LIZA P.CHERIAN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17-09-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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sts

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WP(C)NO.17987/2012

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APPENDIX

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PETITIONER'S EXHIBITS:

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P1 COPY OF THE RELEVANT PAGES OF THE PASS BOOK RELATING TO THE LOAN ACCOUNT.

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P2 COPY OF THE DEMAND NOTICE DATED 19/07/2012 ISSUED BY THE 1ST RESPONDENT.

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RESPONDENT'S EXHIBITS: NIL

/TRUE COPY/

P.S.TO.JUDGE

sts

ANTONY DOMINIC, J.

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W.P.(C) NO.17987 OF 2012(W)

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--------------------------------------------------

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Dated this the 17^th day of September, 2012

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J U D G M E N T

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Heard the counsel for the petitioner and also the learned Standing Counsel appearing for the respondents.

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Petitioner availed of a housing loan of Rs.7.5 lakhs mortgaging the property of his wife. After availing of the loan in 2007 there has not been any repayment. Therefore the bank has initiated SARFAESI proceedings and Ext.P2 is the possession notice issued.

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It is at this stage this writ petition has been filed for a direction to allow the petitioner to get the loan regularised.

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From the petitioner's own submission, it is obvious that he has committed default in repaying the loan and therefore the Bank is justified in its action. That apart, according the Bank as on toady Rs.1,95,355/- is due towards defaulted installments itself. Therefore the request for regularization can be considered only if the defaulted installments are paid.

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Since the petitioner is willing to comply with the said condition, I direct that the petitioner shall pay the defaulted dues in

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WPC.No. 17987/2012

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:2 :

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two installments. Such installments shall be paid on or before 29.9.2012 and 29.10.2012, along with the current installments. It is directed that subject to payment as above, coercive action now initiated will be deferred and in case of default, Bank will be free to continue the recovery action. It is also directed that if the petitioner paid the installments as above, the loan in question will be regularised.

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Writ Petition is disposed of as above.

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(ANTONY DOMINIC) JUDGE

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vi/

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WPC.No. 17987/2012

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:3 :

Chandrangathan v. the Authorised Officer

Case brief

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Chandrangathan v. the Authorised Officer

Case brief

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