Disposed

Anilkumar M. v. Repco Home Finance Limited

Kerala HC3 Feb 2021WP(C)/2676/2021

Case brief

AI extract

What is this about?

This writ petition sought a stay on coercive action against the petitioner regarding an overdue bank loan. The Court directed the petitioner to regularize the account and stayed recovery for ten days pending the bank's decision on his representation.

What did the court decide?

Stay on coercive action for ten days pending the bank's decision on a representation to regularize the loan account.

Anilkumar M. Vs Repco Home Finance Limited — Banking and Recovery | Kerala HC (2021)

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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 A.M.BADAR

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WEDNESDAY, THE 03RD DAY OF FEBRUARY 2021 / 14TH MAGHA,1942

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WP(C).No.2676 OF 2021(H)

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PETITIONER:

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ANILKUMAR M. AGED 48 YEARS S/O. MADHAVAN NAIR, ANIL VIHAR, TC 54/1747, VADAKKETHUMARIMUTTOM, PAPPANAMCODE P.O., TRIVANDRUM695 018.

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BY ADV. SRI.I.SREEHARI

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RESPONDENTS:

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1 REPCO HOME FINANCE LIMITED REPRESENTED BY ITS AUTHORIZED OFFICER, REMA PLAZA, T C 21/1655 (6), IST FLOOR, SS KOVIL ROAD, THAMPANOOR, THIRUVANANTHAPURAM-695 001.

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2 THE BRANCH MANAGER REPCO HOME FINANCE LIMITED, REMA PLAZA, TC 21/1655(6), IST FLOOR, SS KOVIL ROAD, THAMPANOOR, THIRUVANANTHAPURAM-695 001.

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No.2676 OF 2021(H)

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JUDGMENT

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Dated this the 3rd day of February 2021

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By this petition, the petitioner has prayed for allowing him remit

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the overdue amount of loan in twenty equated monthly installments apart from regular payment of EMIs.

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Heard the learned counsel for the petitioner. He submits that the petitioner wants to clear the entire overdue amount apart from payment of regular EMIs. As against this, the learned counsel for the respondents submits that as of date, overdue amount is more than Rs.5,00,000/- and if the petitioner makes an appropriate application to the respondents for regularization of loan, the respondents shall consider the same and till then, the respondents are willing to keep the coercive action in abeyance. The learned counsel for the petitioner submits that the petition be disposed of with the liberty to the petitioner to make necessary representation for regularization of loan and till then, as stated by the respondents, coercive action may be kept in abeyance.

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In this fact circumstances, the petition is disposed of with the following directions.

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The petitioner to make necessary representation for regularizing the loan account within a period of one week from today

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WP(C).No.2676 OF 2021(H)

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to respondent No. 2. The respondents shall thereupon take decision on the said representation according to law and communicate the same to the petitioner. The statement of the learned counsel for the respondent is that, the respondent shall defer the coercive action is accepted and recorded. Respondents shall not take coercive action against the petitioner for a period of ten days after communication of decision on his representation, if the said decision goes against the petitioner. An authenticated copy of this order be supplied to the parties.

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Nsd //true copy// PA to Judge

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Sd/A.M.BADAR JUDGE

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WP(C).No.2676 OF 2021(H)

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APPENDIX

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PETITIONER'S/S EXHIBITS:

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EXHIBIT P1 TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE IST RESPONDENT DATED 6.11.2019. EXHIBIT P2 TRUE COPY OF THE ORDER IN MC 526/2020 DATED 15.9.2020. EXHIBIT P3 TRUE COPY OF THE ADVOCATE COMMISSIONER'S NOTICE DATED 11.1.2021.

Anilkumar M. v. Repco Home Finance Limited

Case brief

What is this about?

What did the court decide?

Anilkumar M. v. Repco Home Finance Limited

Case brief

What is this about?

What did the court decide?

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