Allowed

Mohammed P.K. v. the Authorised Officer

Kerala HC28 Dec 2018WP(C)/42630/2018

Case brief

AI extract

What is this about?

The High Court of Kerala permitted a defaulting housing loan petitioner to regularize the account. The petitioner must clear arrears and future EMIs in nine monthly instalments; default forfeits the facility. Coercive steps are deferred pending compliance.

What did the court decide?

Respondent permitted to regularize loan; petitioner to clear arrears and EMIs in nine monthly instalments with forfeiture on default; coercive steps deferred.

Mohammed P.K. Vs the Authorised Officer — Banking and Recovery | Kerala HC (2018)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT

¶3

THE HONOURABLE MR. JUSTICE A.MUHAMED MUSTAQUE

¶4

FRIDAY ,THE 28TH DAY OF DECEMBER 2018 / 7TH POUSHA, 1940

¶5

WP(C).No. 42630 of 2018

¶6

PETITIONER:

¶7

MOHAMMED P.K. AGED 52 YEARS S/O AHAMMED KUTTY,FAVORITE HOUSE, MONGAM P.O.MALAPPURAM DISTRICT 673 642

¶8

BY ADV. SRI.SAJEEV KUMAR K.GOPAL

¶9

RESPONDENTS:

¶10

1 THE AUTHORISED OFFICER DEWAN HOUSING FINANCE CORPORATION LTD, FIRST FLOOR, K.M.M.BUILDING, DOOR NO. 32/2383,PALARIVATTAM, KOCHI 682 025.

¶11

2 DEWAN HOUSING FINANCE CORPORATION LTD, AMBIKA ARCADE,THRISSUR CENTRAL, THRISSUR 680 001, REPRESENTED BY ITS BRANCH MANAGER.

¶12

BY ADV. SRI. PAULOCHAN ANTONY P.

¶13

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28.12.2018, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

W.P(C).42630/2018

J U D G M E N T

The petitioner availed housing loan and consequent upon default in arrears the respondents initiated proceedings under the SARFAESI Act.

¶18

Having considered the fact that the term is not over, the respondent shall permit the petitioner to regularise the loan account on the following terms:

¶19

The petitioner shall clear the entire arrears along with regular EMI in nine monthly instalments. First of such instalment shall be paid on 15.1.2019 and followed by every month. If the petitioner commits default in payment of any one of the instalments, the facility shall stand forfeited. On paying the amount as above, the account shall be regularised. Coercive steps shall be deferred in tune with the above direction.

¶20

The Writ Petition is disposed of.

¶21

Sd/A. Muhamed Mustaque, Judge

sou.

W.P(C).42630/2018

APPENDIX

PETITIONER'S EXHIBITS:

¶27

EXHIBIT P1 TRUE COPY OF THE NOTICE DATED 28.11.2018 ISSUED BY THE RESPONDENTS EXHIBIT P2 TRUE COPY OF THE NOTICE ISSUED UNDER RULE 8(1) OF THE SECURITY INTEREST (ENFORCEMENT RULES) DATED 14.9.2018

¶28

RESPONDENTS' EXHIBITS:

¶29

NIL

¶30

// TRUE COPY //

¶31

P.A. TO JUDGE

Mohammed P.K. v. the Authorised Officer

Case brief

What is this about?

What did the court decide?

Mohammed P.K. v. the Authorised Officer

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Karthu M.S., Vs the Secretary General

L.Ambily Vs State of Kerala

Anees Basil C. Vs the Kerala University of Health Science

Varghese P.a., Vs the Regional Transport Officer

Vegesh P.v., Vs Central Board of Film Certification

Sreekumar P.K., Vs Idukki District Co-Operative Bank Ltd.