Vinod. K v. the Manager
Case brief
What is this about?
Petitioner sought writ direction to grant time to repay overdue loan and restore possession of property seized by respondent bank under SARFAESI Act. Court granted four-month instalment plan for repayment to enable restoration.
What did the court decide?
Petitioner permitted to pay overdue amount with interest and costs in four equated monthly instalments commencing 1.6.2023; possession to be returned upon full payment.
What the court decided
1
WP(C) No.14443 of 2023
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE C.S.DIAS
THURSDAY, THE 25TH DAY OF MAY 2023 / 4TH JYAISHTA, 1945
WP(C) NO. 14443 OF 2023
PETITIONER/S:
VINOD. K
AGED 47 YEARS
S/O VELAYUDHAN, VINAYA NIVAS, VAZHAMPURAM,
KARAKURUSSI, PALAKKAD, PIN - 678595
BY ADVS.
RAHUL SASI
NEETHU PREM
ARCHANA VINOD
RESPONDENT/S:
1THE MANAGER
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED, 1ST
FLOOR, SAR BYE PASS COMMERCIAL CENTRE, OPPOSITE
PRESENTATION HIGHER SECONDARY SCHOOL, BYE PASS ROAD,
MANATHUMANGALAM ,PERINTALMANNA, MALAPPURAM, PIN -
679322
2THE AUTHORISED OFFICER
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED,
HDFC HOUSE, P.O NO: 1667, RAVIPURAM JUNCTION, M G
ROAD, KOCHI, PIN - 682015
BY ADVS.
Ambily S
K.K.CHANDRAN PILLAI (SR.)(C-41)
RUPA R. NAIR(K/001021/2023)
MATHEW JOSEPH BALUMMEL(K/001219/2019)
Issues for consideration
2 issues framed by the court
Whether the Court should direct the respondent bank to restore possession pending payment of overdue loan amounts.
Whether the Court can order the repayment of the outstanding loan in instalments to facilitate leaving possession of secured asset.
Parties & counsel
- petitioner
Vinod. K
- respondent
The Manager, Housing Development Finance Corporation Limited
Coram
C.S. Dias
Case details
As recorded by the court registry
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