High Court ordered repayment of overdue loan amount of Rs.12,66,962/- in 15 monthly instalments with stay of possession notices predicated on default.
Direction to pay overdues in 15 installments commencing 31.01.2022 with regular EMI; stay on proceedings pursuant to possession notices.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE MURALI PURUSHOTHAMAN
MONDAY, THE 20TH DAY OF DECEMBER 2021 / 29TH AGRAHAYANA, 1943
WP(C) NO. 7923 OF 2020
PETITIONER/S:
1 FAMITHA.D, AGED 39 YEARS W/O. SIKANDAR BASHA, ADIL MANZIL,153, PRATHIBA NAGAR, KALMANDAPAM, CHANDRA NAGAR, PALAKKAD, PIN-678 007
2 SIKANDAR BASHA, AGED 42 YEARS ADIL MANZIL,153, PRATHIBA NAGAR, KALMANDAPAM, CHANDRA NAGAR, PALAKKAD, PIN-678 007
BY ADVS. SHRI.NASEER MOIDU SRI.REJI GEORGE SRI.BINOY DAVIS
RESPONDENT/S:
1 MUTHOOT HOUSING FINANCE COMPANY LTD 1ST FLOOR, MAR AUGIN, GOLDEN JUBILEE COMPLEX, WEST FORT, POOTHOLE P.O., PIN-680 004, THRISSUR, REPRESENTED BY ITS MANAGER
BY ADV SRI.SABU S.KALLARAMOOLA
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20.12.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 7923 OF 2020 ..2..
JUDGMENT
The petitioners have filed this writ petition challenging Exts.P1 and P3 possession notices issued by the 1st respondent. They have also prayed for a direction to the respondents to permit them to pay the over dues in 15 monthly instalments and to re-schedule the loan account of the petitioners.
WP(C) NO. 7923 OF 2020 ..3..
would come to Rs.12,66,962/- as on 13.12.2021, if the petitioners are willing to pay the said amount in 10 monthly instalments along with regular EMI.
WP(C) NO. 7923 OF 2020 ..4..
as above, there will be a stay of further proceedings pursuant to Exts.P1 and P3.
The writ petition is disposed of accordingly.
Sd/MURALI PURUSHOTHAMAN JUDGE
SB/20/12/2021
WP(C) NO. 7923 OF 2020 ..5..
APPENDIX OF WP(C) 7923/2020
PETITIONER EXHIBITS
EXHIBIT P1 TRUE COPY OF THE DATED 04.03.2020 SERVED BY ADVOCATE COMMISSIONER MR.JITHIN TO THE PETITIONERS IN MC NO.65/2020 ON THE FILES OF CHIEF JUDICIAL MAGISTRATE , PALAKKAD
EXHIBIT P2 TRUE COPY OF PUBLIC NOTICE DATED 11.12.2018 SERVED BY MR. RAMESH TO THE PETITIONER
EXHIBIT P3 COPY OF HE NOTICE DATED 10.01.2020 UNDER SECTION 13 (4) OF SARFESI ACT SERVED BY MR.RAMESH TO THE PETITIONERS
2 issues framed by the court
Whether the petitioners can be permitted to regularise their loan dues through instalments while retaining possession of secured assets.
Whether the possession notices issued under the SARFAESI Act should be stayed pending payment of instalments.
Faithma.D
Sikandar Basha
Muthoot Housing Finance Company Ltd
The Authorised Officer, Muthoot Housing Finance Company Ltd
Murali Purushothaman
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
