High Court of Kerala granted extra time for payment of final instalment under Debt Recovery Tribunal order amidst financial hardship. Writ petition disposed allowing compliance if paid by 30.03.2016.
Payment of fourth instalment directed to be made by 30.03.2016 as final compliance direction.
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR. JUSTICE A.K.JAYASANKARAN NAMBIAR
THURSDAY, THE 4TH DAY OF FEBRUARY 2016/15TH MAGHA, 1937
WP(C).No. 2708 of 2016 (K)
PETITIONERS:
1. M.K.SOMAN, AGED 44 YEARS,
2. SUSHAMA SOMAN, AGED 40 YEARS,
BY ADVS.SRI.K.M.SATHYANATHA MENON
SMT.KAVERY S THAMPI
RESPONDENT:
THE AUTHORISED OFFICER, M/S.SUNDARAM BNP PARIBAS HOME FINANCE LTD, SUNDARAM TOWERS, 46, WHITES ROAD, CHENNAI-600 014.
BY SRI.VARGHESE C.KURIAKOSE
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04-02-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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WP(C).No. 2708 of 2016 (K)
APPENDIX
PETITIONER(S)' EXHIBITS
RESPONDENT(S)' EXHIBITS:
NIL
/TRUE COPY/
P.S.TO JUDGE
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A.K.JAYASANKARAN NAMBIAR, J. ............................................................. W.P.(C).No.2708 Of 2016 ............................................................. Dated this the 4th day of February, 2016
J U D G M E N T
The challenge in the writ petition is against Ext.P2 order of the Debt Recovery Tribunal that was passed in an interlocutory application filed in Securitisation Application No.287 of 2015. By the said order, the petitioners were directed to effect payment of various amounts in instalments, the last of which was to be paid on or before 20.01.2016. The last instalment was to be of an amount of Rs.2 lakhs together with current EMI. It is the case of the petitioners that while they have complied with the directions in Ext.P2 order in respect of the three instalments, they could not pay the last instalment on or before 20.01.2016 on account of financial hardship consequent to a personal tragedy.
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W.P.(C). No.2708 of 2016
case and the submissions made across the bar and taking note of the plea of financial hardship urged on behalf of the petitioners, I direct that, if the petitioners pay the fourth instalment as directed in Ext.P2 order, on or before 30.03.2016, then the same shall be treated as in compliance with the directions in Ext.P2 order with regard to that instalment and the Debt Recovery Tribunal shall proceed further with the securitisation application filed by the petitioners.
The writ petition disposed as above.
A.K.JAYASANKARAN NAMBIAR JUDGE
mns/4.02.16
1 issue framed by the court
Whether warrant of arrest or other coercive action against petitioners for non-payment of final instalment should be issued considering financial hardship?
M.K.SOMAN
SUSHAMA SOMAN
THE AUTHORISED OFFICER, M/S.SUNDARAM BNP PARIBAS HOME FINANCE LTD
A.K.JAYASANKARAN NAMBIAR
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
