Allowed

Jayan S.K., v. Housing Development Finance Corporation Limited

Kerala HC2 Feb 2023WP(C)/1259/2023

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition allowing the petitioner to recover overdue bank loan amounts via equal monthly instalments, directing the bank to regularise the account upon full payment and keeping coercive recovery actions in abeyance.

What did the court decide?

Paid overdue amount of Rs.4,42,000 in 15 equal monthly instalments; loan account regularised upon full payment; coercive recovery steps kept in abeyance.

Jayan S.K., Vs Housing Development Finance… — Contract and Commercial Disputes | Kerala HC (2023)

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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 T.R.RAVI

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THURSDAY, THE 2^ND DAY OF FEBRUARY 2023 / 13TH MAGHA, 1944 WP(C) NO. 1259 OF 2023

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PETITIONER:

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JAYAN S.K., AGED 45 YEARS S/o.SASIDHARAN.M, APARTMENT 15-1, 15TH FLOOR, D.D PLATINUM PLANET, TOWER-2, KATHRIKADAVU, THAMANAM ROAD, ERNAKULAM, PIN – 682 020

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BY ADVS. ANILA ANTONY P.U.VINOD KUMAR K.R.RENJU STIYA SIVAN ASITHA M.M.

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RESPONDENTS:

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1 HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED, HDFC HOUSE,P.O NO.1667, RAVIPURAM JUNCTION, M.G.ROAD, KOCHI-682015, REPRESENTED BY ITS AUTHORISED OFFICER

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2 SACHIN A.S, AUTHORISED OFFICER, AGED 40 YEARS, S/o.T.K.SHANAVAS,HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED, HDFC HOUSE, P.O NO.1667, RAVIPURAM JUNCTION, M.G. ROAD, KOCHI, PIN - 682015

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BY ADVS. SMT. S. AMBILY, SC,HDFC BANK LTD. SRI.T.RAJESH, SC, HDFC BANK LTD. LAKSHMI ANIL(K/002184/2022) K.K.CHANDRAN PILLAI (SR.)(C-41)

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.02.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) NO. 1259 OF 2023 2

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T.R. RAVI, J.

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-------------------------------------------- W.P.(C).No.1259 of 2023

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Dated this the 2^nd day of February, 2023

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JUDGMENT

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The prayer in the writ petition is to permit the petitioner to pay off the overdue amounts in the loan account availed from the 1^st respondent in easy instalments and to regularise the loan account. The Standing Counsel on instructions submits that the overdue amount is Rs.4,42,000/-.

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In the above circumstances, the writ petition is disposed of directing the petitioner to pay off the overdue amount of Rs.4,42,000/- in 15 equal monthly instalments, the first instalment falling due on or before 02.03.2023 and the subsequent instalments falling due on or before the 2^nd of the succeeding months. The petitioner shall also pay the regular monthly instalments along with the instalments towards the overdue amount as stated above. If the petitioner pays the entire overdue amount, the respondents shall regularise the loan account. If the petitioner make a single default in the payment of instalments, the respondents will be at liberty to continue with coercive steps for recovery. The coercive steps initiated

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WP(C) NO. 1259 OF 2023 3

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shall be kept in abeyance to facilitate the payment of instalments as

directed above.

Sd/-

T.R.RAVI JUDGE

LEK

WP(C) NO. 1259 OF 2023 4

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APPENDIX OF WP(C) 1259/2023

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PETITIONER EXHIBITS

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Exhibit P1	A TRUE COPY OF THE DISCHARGE SUMMARY DURING THE PERIOD FROM 27/10/2022 TO 10/11/2022 ISSUED BY THE LOURDES HOSPITAL ERNAKULAM IS PRODUCED
Exhibit P2	A TRUE COPY OF THE NOTICE DATED 03/11/2022 OF THE ADVOCATE COMMISSIONER APPOINTED BY THE HON'BLE ADDITIONAL CHIEF JUDICIAL MAGISTRATE (MP/MLA) COURT AT ERNAKULAM IN M.C 859/2022 IS PRODUCED
Exhibit P3	A TRUE COPY OF THE STATEMENT OF ACCOUNT OF THE PETITIONER DATED 28/11/2022 BY THE HDFC BANK, PACHALAM IS PRODUCED

Jayan S.K., v. Housing Development Finance Corporation Limited

Case brief

What is this about?

What did the court decide?

Jayan S.K., v. Housing Development Finance Corporation Limited

Case brief

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What did the court decide?

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