Allowed

Shanoj a.H, v. Canfin Homes Ltd.

Kerala HC10 Jan 2022WP(C)/145/2022

Case brief

AI extract

What is this about?

The High Court allowed the writ petition filed by a borrower facing loan default. The court directed the bank to accept repayment of the dues in ten monthly instalments and regularise the account, while keeping coercive proceedings in abeyance pending compliance.

What did the court decide?

Directed respondent bank to accept repayment of Rs.5,89,000/- in 10 instalments, regularise loan account, and keep coercive proceedings in abeyance.

Shanoj a.H, Vs Canfin Homes Ltd. — Contract and Commercial Disputes | Kerala HC (2022)

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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 BECHU KURIAN THOMAS

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MONDAY, THE 10TH DAY OF JANUARY 2022 / 20TH POUSHA, 1943
WP(C) NO. 145 OF 2022

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PETITIONER:

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SHANOJ A.H,
AGED 46 YEARS
S/O. LATE HABEEB,
VETTUKAL HOUSE,
ALAVI CENTRE, POTTA P.O,
CHALAKUDY,
PIN-680 722.
BY ADVS.
A.T.ANILKUMAR
V.SHYLAJA

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RESPONDENTS:

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1CANFIN HOMES LTD.,
1ST FLOOR, MARVA ARCADE,
MACHINGAL LINE,
TRICHUR, PIN-680 001.

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2THE AUTHORISED OFFICER,
CANFIN HOMES LTD., TRICHUR BRANCH,
KERALA, PIN-680 001.

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BY ADV C.AJITH KUMAR

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
10.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 145 OF 2022

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BECHU KURIAN THOMAS, J.

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----------------------------------------W.P.(C) No.145 of 2022

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Dated this the 10^th day of January, 2022

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JUDGMENT

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Petitioner as borrower from the respondent bank, has committed default in repayment. Consequently, proceedings have been initiated by the bank for recovery of the amounts due.

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During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account.

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It was submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount is Rs.5,89,000/-. It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the overdue amount in limited instalments and regularise the loan account.

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I have heard Sri. A.T. Anil Kumar, learned counsel for the petitioner as well as Sri. C. Ajith Kumar, the learned counsel for the

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WP(C) NO. 145 OF 2022

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respondents.

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Having regard to the circumstances of the case and the situation now prevailing, apart from the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the overdue amount in ‘10’ instalments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.

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Accordingly, there will be a direction to the respondent

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bank to accept repayment of the entire overdue amount of Rs.5,89,000/- along with bank charges from the petitioner and regularise the loan account of the petitioner on the following conditions:

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(i) The overdue amount of Rs.5,89,000/- shall be repaid in ‘10’ equated monthly instalments.

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(ii) The first instalment shall be paid on or before 31.01.2022.

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(iii) Petitioner shall continue to pay the regular EMI’s along with the instalments directed above.

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(iv) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.

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WP(C) NO. 145 OF 2022

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(v) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

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The writ petition is disposed of as above.

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Sd/-

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BECHU KURIAN THOMAS JUDGE

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AJM

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WP(C) NO. 145 OF 2022

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APPENDIX OF WP(C) 145/2022

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PETITIONER’S EXHIBITS

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EXHIBIT P1TRUE COPY OF THE SALE DEED BEARING NO.
1415/2008 OF KALLETTUMKARA SUB
REGISTRAR OFFICE, DATED 03.03.2008.
EXHIBIT P2TRUE COPY OF THE SAID SALE NOTICE DATED
17.12.2021 ISSUED BY THE 2ND
RESPONDENT.

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RESPONDENTS’ EXHIBITS : NIL

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//TRUE COPY//

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PA TO JUDGE

Shanoj a.H, v. Canfin Homes Ltd.

Case brief

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Shanoj a.H, v. Canfin Homes Ltd.

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