Allowed

Shaji.U.K. v. Hdfc Ltd.

Kerala HC9 Dec 2013OP (DRT)/4316/2013

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal allowed the petitioner's petition requesting permission to reoccupy a residential house taken as a secured asset. The court directed the bank to permit reoccupation as a licensee upon clearing half the liability and to reschedule the loan with easy EMIs, by a specific deadline.

What did the court decide?

Permission to reoccupy the residential house as a licensee upon clearing one-half of the total liability; direction to reschedule loan with easy EMIs.

Shaji.U.K. Vs Hdfc Ltd. — Contract and Commercial Disputes | Kerala HC (2013)

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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 V.CHITAMBARESH

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MONDAY, THE 9TH DAY OF DECEMBER 2013/18TH AGRAHAYANA, 1935

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OP (DRT).No. 4316 of 2013 (O)

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AGAINST THE ORDER/JUDGMENT IN CRMP 4106/2013 of C.J.M.,THRISSUR S.A. NO. 593/2013 OF THE DRT., ERNAKULAM

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PETITIONER(S):

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SHAJI.U.K., AGED 35 YEARS, S/O. KOCHU MOHAMED, UPPATT HOUSE, THANISSERI P.O, THRISSUR DISTRICT.

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BY ADVS.SRI.P.SAMSUDIN SRI.A.M.BABU

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RESPONDENT(S):

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HDFC LIMITED, REPRESENTED BY BRANCH MANAGER, POST BOX NO. 1667 RAVIPURAM JUNCTION, M.G. ROAD, KOCHI - 682 015.

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THE AUTHORISED OFFICER, HDFC LIMITED, POST BOX NO. 1667, RAVIPURAM JUNCTION M.G. ROAD, KOCHI - 682 015.

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R2 BY ADV. SRI.K.K.CHANDRAN PILLAI (SR.) R2 BY ADV. SRI.THOMAS JAMES MUNDACKAL R2 BY ADV. SRI.ARUN ANTONY R2 BY ADV. SMT.K.V.SHENU

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THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 09-12-2013, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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OP (DRT).No. 4316 of 2013 (O)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXHIBIT P1	-	TRUE COPY OF THE NOTICE DATED 05/02/2013 ISSUED TO THE PETITIONER U/S 13 (2) OF THE ACT.
EXHIBIT P2	-	TRUE COPY OF THE JUDGMENT IN W.P(C) 8462/2013 DATED 27/03/2013.
EXHIBIT P3	-	TRUE COPY OF THE ORDER IN CRL.M.P 4106/2013 OF THE CJM COURT, THRISSUR DATED 01/08/2013.
EXHIBIT P4	-	TRUE COPY OF THE MEMORANDUM IN S.A 341/2013 ON THE FILE OF DRT, ERNAKULAM.
EXHIBIT P5	-	TRUE COPY OF THE ORDER IN I.A 2422/2013 IN SA. 593/2013 OF THE DRT ERNAKULAM DATED 16/08/2013.
EXHIBIT P6	-	TRUE COPY OF THE DD DATED 04/09/2013.
EXHIBIT P7	-	TRUE COPY OF THE DD DATED 25/10/2013.
EXHIBIT P8	-	TRUE COPY OF THE COUNTER AFFIDAVIT IN I.A 2422/2013 IN S.A 593/2013

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RESPONDENT(S)' EXHIBITS : NIL

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/TRUE COPY/

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P.A. TO JUDGE.

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V. CHITAMBARESH, J

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OP(DRT) NO. 4316 OF 2013

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Dated this the 9^th day of December, 2013

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JUDGMENT

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The petitioner did not comply with the terms of Ext.P2 judgment in WP(C) No. 8462/2013 and therefore has lost his chance of regularising the loan account. The petitioner did not also comply with the interim orders passed by the Debts Recovery Tribunal in S.A. No. 593/2013. The first respondent bank is not willing to regularise the loan after accepting the defaulted arrears for the reason that the petitioner is without any job and that the salary certificate produced by him is allegedly fake.

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The petitioner seeks permission to occupy his residential house which has been taken possession of as a secured asset by the bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002. The prayer in that regard can be considered only if the petitioner clears atleast one half of the total liability in which case the bank can permit the petitioner to

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OP(DRT) No. 4316/2013

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reoccupy the premises as a licensee.

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The first respondent bank shall permit the petitioner

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to occupy the residential house as a licensee on his clearing one half of the total liability as on the date of deposit. The petitioner is given time till 31.01.2014 failing which the first respondent bank is at liberty to surge ahead with the sale of the secured asset under the SARFAESI Act. The bank shall reschedule the loan in the event of the petitioner clearing one half of the total liability and grant easy equated monthly instalments.

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The Original Petition is disposed of.

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V. CHITAMBARESH JUDGE

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ncd

Shaji.U.K. v. Hdfc Ltd.

Case brief

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Shaji.U.K. v. Hdfc Ltd.

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