Partly allowed

Sajeev B v. Authorised Officer

Kerala HC22 Jun 2023WP(C)/2108/2022

Case brief

AI extract

What is this about?

The Court entertained a writ petition regarding a housing loan dispute where borrowers faced coercive recovery proceedings. The Court ordered the bank to defer coercive actions and allowed the petitioners to repay the outstanding amount in six equated monthly instalments.

What did the court decide?

Respondents directed to defer coercive proceedings; petitioners permitted to pay outstanding amount plus future interest and cost in six equated monthly instalments commencing from 22.7.2023.

Sajeev B Vs Authorised Officer — Banking and Recovery | Kerala HC (2023)

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WP(C) No.2108 of 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 C.S.DIAS

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THURSDAY, THE 22ND DAY OF JUNE 2023 / 1ST ASHADHA, 1945

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WP(C) NO. 2108 OF 2022

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PETITIONER/S:

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1 SAJEEV B,AGED 45 YEARS S/O. BALAN, SAJEEV BHAVANAM, VETTIYAR.P.O., MANKAMKUZHY, ALAPPUZHA-690 558

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2 GRISHA,AGED 42 YEARS w/O. SAJEEV, SAJEEV BHAVANAM, VETTIYAR.P.O., MANKAMKUZHY, ALAPPUZHA-690 558

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BY ADVS.
RAGHUL SUDHEESH
K.J.GLAXON
C.R.SUDHEESH
J.LAKSHMI
A.L.KRISHNA PRIYA

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RESPONDENT/S:

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1AUTHORISED OFFICER
MAHINDRA RURAL HOUSING FINANCE LIMITED, 3RD FLOOR,
BLDG NO.631/A41, AMBADY TOWERS, POOKKATTUPADY ROAD,
EDAPPALLY TOLL, ERNAKULAM-682 024
2MAHINDRA RURAL HOUSING FINANCE LIMITED,
REPRESENTED BY ITS MANAGER & AUTHORIZED OFFICER, 3RD
FLOOR, BLDG NO.631/A41, AMBADY TOWERS, POOKKATTUPADY
ROAD, EDAPPALLY TOLL, ERNAKULAM-682 024
BY ADVS.
K.BIJU
M.A.JOSEPH MANAVALAN

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C) No.2108 of 2022

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C.S DIAS,J.

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WP(C) No.2108 of 2022

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----------------------------Dated this the 22^nd day of June, 2023^.

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JUDGMENT

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The writ petition is filed to direct the respondents to

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permit the petitioners to pay off the outstanding amount in equated monthly instalments.

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The petitioners’ case is that they had availed a

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housing loan from the second respondent – Bank – by creating an equitable mortgage. Due to unforeseen circumstances, they could not pay the instalments on time. The Bank has initiated proceedings against the

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secured asset under the Securitization and Reconstruction of Financial Assets and Enforcement of

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Security Interest Act (in short, ‘Act’). The petitioners

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WP(C) No.2108 of 2022

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are prepared to pay the outstanding amount in equated monthly instalments. Hence, the writ petition.

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Heard; Sri.C.R Sudheesh, the learned counsel appearing for the petitioner and Sri.K.Biju, the learned

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counsel appearing for the respondents.

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Sri.K.Biju, on instructions, submitted that as on 22.6.2023, the outstanding amount is Rs.7,93,128/-. The respondents are willing to permit the petitioners to pay the above outstanding amount in six equated monthly instalments. The said submission is recorded.

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The learned counsel appearing for the petitioners submitted that the petitioners are ready to

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accept the above offer.

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Having considered the pleadings and materials

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on record, the submissions made by the learned counsel

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WP(C) No.2108 of 2022

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appearing for the parties, the consensus arrived at between the parties and to provide the petitioners one last opportunity to clear off the liability, I am inclined to exercise the powers of this Court under Article 226 of

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the Constitution of India and entertain the writ petition.

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Resultantly, I dispose of the writ petition in the

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following manner:

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(i) The respondents are directed to defer further coercive proceedings pursuant to Exts P1 and P2, to enable the petitioners to pay the liability in equated monthly instalments as stated below.

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(ii) The petitioners are permitted to pay the outstanding amount as stated above with future interest and cost to the second respondent – Bank – in six

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WP(C) No.2108 of 2022

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equated monthly instalments commencing from 22.7.2023.

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(iii) Needless to mention, if the petitioners commit default in any of the conditions ordered above, the petitioners would lose the benefit of this judgment and the respondents would be at liberty to proceed with recovery proceedings from the stage it presently stands.

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(iv) It is made clear that, no further application for

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modification/extension of time shall be entertained.

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sd/-

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sks/22.6.2023 C.S.DIAS, JUDGE

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WP(C) No.2108 of 2022

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APPENDIX OF WP(C) 2108/2022

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PETITIONER EXHIBITS
Exhibit P1TRUE COPY OF THE MC NO.98/2020 FILED BY THE
1ST RESPONDENT BEFORE THE HON'BLE COURT of
CHIEF JUDICIAL MAGISTRATE COURT, ALAPPUZHA
Exhibit P2TRUE COPY OF THE ORDER OF THE HON'BLE COURT
OF CHIEF JUDICIAL MAGISTRATE , ALAPUZHA
DATED 06.03.2020 IN MC NO.98/2020

Sajeev B v. Authorised Officer

Case brief

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Sajeev B v. Authorised Officer

Case brief

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