Allowed

Abdul Karim Sahib Noushad v. Dewan Housing Finance Coorporation Ltd.

Kerala HC4 Aug 2016WP(C)/3625/2016

Case brief

AI extract

What is this about?

This court allowed the petitioners to remit housing loan arrears of Rs.10,78,090/- with accrued interest in five equal monthly installments. The judgment directs continuation of regular installments and states that all coercive action under the SARFAESI Act will be deferred upon compliance.

What did the court decide?

Permitted petitioners to remit Rs.10,78,090/- arrears with interest in five equal monthly installments commencing 1.9.2016 along with regular installments. Deferred all coercive action under SARFAESI

Abdul Karim Sahib Noushad Vs Dewan Housing… — Contract and Commercial Disputes | Kerala HC (2016)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT:

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THE HONOURABLE MRS. JUSTICE ANU SIVARAMAN

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THURSDAY, THE 4TH DAY OF AUGUST 2016/13TH SRAVANA, 1938

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WP(C).No. 3625 of 2016 (C)

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PETITIONER(S):

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1. ABDUL KARIM SAHIB NOUSHAD, AGED 45 YEARS, S/O.ABDUL KARIM SAHIB, NAUFAL MANZIL, KARAM VILA,

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MOONUKALLIMMODU, NAYYATTINKARA, TRIVANDRUM.

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2. ABDUL KARIM SAHIB, AGED 67 YEARS, S/O.MUHAMMED, NAUFAL MANZIL, KARAM VILA, MOONUKALLIMMODU, NAYYATTINKARA, TRIVANDRUM.

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BY ADVS.SRI.T.P.SANTHOSH KUMAR

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SRI.C.H.ABDUL RASAC

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RESPONDENT(S):

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1. DEWAN HOUSING FINANCE CORPORATION LTD. (DHEL) TRIVANDRUM BRANCH, VAZHUTHACAUED, TRIVANDRUM, REPRESENTED BY ITS AUTHORIZED OFFICER

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SURESH BABU.T.R

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2. DEWAN HOUSING FINANCE CORPORATION LTD., (DHEL), CORPORATE OFFICE, DHEERAJ ARMA, 6TH FLOOR, ANANT KANEKAR MARG, STATION ROAD, BANDRA EAST, MUMBAI-51.

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BY ADV. SRI.K.THYAGARAJESWARAN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04-08-2016, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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mbr/

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WP(C).No. 3625 of 2016 (C)

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APPENDIX

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PETITIONER(S)' EXHIBITS:

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------- EXHIBIT	------- P1 :	--------- COPY OF THE LETER OF OFFER DATED 29/11/2011 ISSUED FROM THE RESPONDENTS.
EXHIBIT	P2 :	COPY OF THE REPAYMENT SCHEDULED REPORT DATED 4/10/2012.
EXHIBIT	P3 :	COPY OF THE ORDER IN MC 968/2015 DATED 20/10/2015.
EXHIBIT	P4 :	COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER.
RESPOND -------	ENT(S)' -------	EXHIBITS: NIL ---------
		//TRUE COPY//
		P.S. TO JUDGE
mbr/

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ANU SIVARAMAN, J.

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----------------------------------------------W.P(C).No. 3625 of 2016

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----------------------------------------------Dated this the 4^th August, 2016

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JUDGMENT

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The petitioners seek direction to the respondents to permit them to pay an amount of Rs.3 lakhs which is the instalment arrear due to the bank in a housing loan account availed by the petitioners.

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Heard learned counsel for the petitioners and the learned standing counsel for the respondents.

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It is submitted by the learned counsel for the petitioners that the petitioners had availed a housing loan from the respondent bank for an amount of Rs.42,02,401/-. The period of repayment of the loan is 132 months, which is to expire in 2022. The learned counsel appearing for the respondent Bank, on instructions, submits that an amount of Rs.10,78,090/- is due as instalment arrears in the loan account as on today. He also submitted that the said amount in default can be permitted to be paid off in five equal monthly installments along with regular monthly installments due in the said loan, as sought for by the petitioners.

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WP(C).3625/16 2

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In the above circumstances, the writ petition is disposed of permitting the petitioners to remit the arrear amount of Rs.10,78,090/- with interest accrued thereon in five equal monthly instalments commencing from 1.9.2016. The petitioners shall also pay the regular instalments in addition to the instalments as directed above. If the petitioners commit default in payment of any one of the installments, as directed above, they shall loose the benefit of this judgment. If the amounts are paid by the petitioners as directed above, all coercive action taken against the petitioners under the SARFAESI Act shall stand deferred.

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This writ petition is ordered accordingly.

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ANU SIVARAMAN JUDGE

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vgs4/8

Abdul Karim Sahib Noushad v. Dewan Housing Finance Coorporation Ltd.

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Abdul Karim Sahib Noushad v. Dewan Housing Finance Coorporation Ltd.

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