Disposed

John J. v. Union Bank of India

Kerala HC7 Feb 2012WP(C)/2296/2012

Case brief

AI extract

What is this about?

In this writ petition concerning a defaulted housing loan and SARFAESI proceedings, the petitioner sought a direction to regularize the loan. The court directed the petitioner to clear the defaulted amount and costs in two equal monthly installments. Upon compliance, the bank is directed to regularize the loan and defer coercive action.

What did the court decide?

Recovery deferred if petitioner pays defaulted amount and costs in two equal monthly installments; bank must regularize loan upon compliance.

John J. Vs Union Bank of India — 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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TUESDAY, THE 7TH DAY OF FEBRUARY 2012/18TH MAGHA 1933

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WPC.No. 2296 of 2012 (J) -----------------------CRMC.735/2011 of C.J.M.,TRIVANDRUM

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PETITIONER(S):

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JOHN J.

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S/O. JOHN JOSEPH, PANCHIKATHUVILA VEEDU, J.P. BHAVAN KEEZHAMAKKAM CHENKAL P.O, TRIVANDRUM-695132.

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BY ADV. SRI.S.SAJU

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RESPONDENT(S):

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1. UNION BANK OF INDIA CHALI BAZAR, JALAL BUILDING TRIVANDRUM REP. BY ITS CHIEF MANAGER-695132.

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2. UNION BANK OF INDIA CHALI BAZAR, JALAL BUILDING TRIVANDRUM-695132 REP. BY ITS AUTHORIZED OFFICER.

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3. PRABHA L.J PANCHIKATHUVILA VEEDU, J.P. BHAVAN, KEEZHAMAKKAM CHENKAL P.O, TRIVANDRUM-695132.

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BY SRI.A.S.P.KURUP, SC, UBI

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07-02-2012, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WPC NO.2296/12

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APPENDIX

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PETITIONER'S EXHIBITS

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EXHIBIT P1: TRUE COPY OF THE NOTICE DATEE 21.11.2011 ISSUED BY ADVOCATE COMMISSIONER TO THE PETITIONER.

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EXHIBIT P2: TRUE COPY OF THE ORDER DATED 8.11.2011 IN M.C. NO. 735/2011 OF CJM COURT, THIRUVANANTHAPURAM.

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EXHIBIT P3: TRUE COPY OF THE STATEMENT OF ACCOUNT OF THE HOUSING LOAN OF THE PETITIONER FOR THE PERIOD FROM 1.07.2003 TO 28.10.2011.

//True Copy//

PA to Judge

ANTONY DOMINIC, J. ================ W.P.(C) NO. 2296 OF 2012

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===================

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Dated this the 7^th day of February, 2012

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J U D G M E N T

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Petitioner availed of a loan of `2,50,000 from the respondent Bank for the construction of a house. Default was committed and SARFAESI proceedings were initiated. The Bank has also obtained an order from the Chief Judicial Magistrate Court, Trivandrum for taking possession of the property in question. It is at that stage this writ petition has been filed seeking mainly for a direction to the respondents to regularise the loan in question.

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Learned standing counsel who has obtained instructions from respondents 1 and 2 submits that as at present the defaulted amounts due from the petitioner itself comes to about `71,500. Since the request of the petitioner is to direct regularisation of the loan in question such request is possible only if the petitioner clears the entire amount in default along with the costs and the current EMI.

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Therefore, I direct that it will be open to the petitioner to pay the entire defaulted amount along with the cost in two equal monthly instalments. The first installment shall be paid on

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WPC.No.2296/12

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:2 :

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or before 28/2/2012 and the subsequent instalment shall be paid on or before 31/3/2012. If the defaulted amount and costs are paid along with current EMI, the Bank will regularise the loan in question. It is directed that in the event of payment as above, coercive action will be deferred and in case of non payment, Bank will be free to continue the recovery action already initiated.

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Writ petition is disposed of as above.

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Sd/-

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ANTONY DOMINIC, JUDGE

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//True Copy//

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PA to Judge

John J. v. Union Bank of India

Case brief

What is this about?

What did the court decide?

John J. v. Union Bank of India

Case brief

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What did the court decide?

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