Allowed

Binil M.V v. M/S. Tata Motors Finance Ltd.

Kerala HC12 Dec 2023WP(C)/8371/2023

Case brief

AI extract

What is this about?

The High Court allowed the writ petition seeking regularisation of the petitioner's defaulting loan account. The court directed the petitioner to pay Rs. 10 lakhs by 20.01.2024 and settle the balance in eight equal monthly installments. Upon compliance, the vehicle was directed to be released, with liberty for the bank to repossess upon future default.

What did the court decide?

Petitioner allowed liberty to pay Rs. 10 lakhs by 20.01.2024 and balance overdue in eight equal monthly installments; vehicle to be released upon payment.

Binil M.V Vs M/S. Tata Motors Finance Ltd. — 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 DEVAN RAMACHANDRAN

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MONDAY, THE 18^TH DAY OF DECEMBER 2023 / 27TH AGRAHAYANA, 1945

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WP(C) NO. 8371 OF 2023

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PETITIONER:

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BINIL M.V AGED 35 YEARS, S/O. VISWAN M.N., MANALIL, KUTTIPUZHA, KUTTIPUZHA, KUNNUKARA, ERNAKULAM DISTRICT - 683578 BY ADVS. G.HARIHARAN PRAVEEN.H. K.S.SMITHA V.R.SANJEEV KUMAR GENTLE C.D.

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RESPONDENTS:

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1 M/S. TATA MOTORS FINANCE LTD 3RD FLOOR,JOSH CENTRE, KUSUMAGIRI, INFOPARK ROAD, KAKKANAD, ERNAKULAM DISTRICT – 682030. REPRESENTED BY ITS BRANCH MANAGER 2 STATION HOUSE OFFICER WALAYAR POLICE STATION, WALAYAR, PALAKKAD DISTRICT, PIN - 678624 3 JOINT REGIONAL TRANSPORT OFFICER, SUB REGIONAL TRANSPORT OFFICE, REPUBLIC ROAD, NORTH PARAVUR, ERNAKULAM, PIN - 683513 BY ADVS. FAZIL P JITHIN PAUL VARGHESE(K/940/2009) ANN MARY FRANCIS(K/000577/2018) R.SRUTHY(K/000366/2018) FADIL FAZIL(K/1842/2021) C.PRABITHA(K/528/2009) JENNIS STEPHEN(K/928/2009)

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18.12.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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W.P.(C).No.8371 of 2023

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: 2 :

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JUDGMENT

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When this matter was called today, Sri.P.Fazil – learned counsel for the 1^st respondent, submitted that the total outstanding in the loan account of the petitioner, as on 12.12.2023 is Rs.18,77,215/-, while the overdue in the loan account is Rs.14,56,017/- ; and that if the petitioner is willing to pay Rs.10 lakhs within one month, the balance can be allowed to be paid in eight equal monthly installments along with the regular EMIs. He submitted that, if this is done, the account can be regularised and the petitioner can be allowed to service it, in terms of the original sanction.

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Sri.G.Hariharan – learned counsel for the petitioner, submitted that his client accepts the afore and prayed that this writ petition be so ordered.

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In the afore circumstances, I allow this writ petition, granting liberty to the petitioner to pay Rs.10 lakhs on or before 20.01.2024, and the balance overdue amount in the Loan Account, with all applicable charges and interest, in eight equal monthly installments, along with the monthly EMIs, on the dates on which it becomes due.

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Needless to say, if the overdue amount is paid by the petitioner as afore, his account will stand regularised; but if he fails

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W.P.(C).No.8371 of 2023

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: 3 :

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to pay Rs.10 lakhs on or before 20.01.2024, or defaults any two consecutive installments, as ordered by this Court, or any of the regular EMIs, then the benefit of this judgment will be lost to him; and necessary recovery action can be continued against him, without the respondent Bank having to obtain any further orders from this Court.

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After I dictated this part of the judgment, Sri.G.Hariharan pointed out that the hypothecated vehicle of his client had been repossessed by the 1^st respondent – Financial Institution. He prayed that, on his client paying the 1^st tranche of Rs.10 lakhs as afore, same be directed to be released. The learned counsel for the 1^st respondent agreed to this. Therefore, in addition to the afore directions, on the petitioner paying the amount of Rs.10 lakhs as above, the vehicle in question will be released to him; however, on the undertaking of the petitioner that, if he defaults payment in future, including the installments as ordered above, he will not stand in the way of the Financial Institution repossessing the vehicle in terms of law, following due procedure.

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Sd/DEVAN RAMACHANDRAN JUDGE

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anm

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W.P.(C).No.8371 of 2023

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: 4 :

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APPENDIX OF WP(C) 8371/2023

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PETITION	ER EXHI	BITS
Exhibit	P1	A TRUE COPY OF THE REGISTRATION CERTIFICATE RELATING TO VEHICLE NO.KL- 42S-6816
Exhibit	P2	A TRUE COPY OF THE REPAYMENT CHART ISSUED BY THE 1ST RESPONDENT RELATING TO THE LOAN AVAILED BY THE PETITIONER FOR VEHICLE MENTIONED IN EXHIBIT.P1
Exhibit	P3	A TRUE COPY OF THE TRIP SHEET DATED 22.02.2023 ALONG WITH TRANSIT PASS FOR TRANSPORTATION OF ROUGH STONE BOULDERS ISSUED BY THE DEPUTY DIRECTOR MINING AND GEOLOGY, POLLACHI
Exhibit	P4	A TRUE COPY OF THE JUDGMENT IN THE MATTER OF ICICI BANK LTD. VS. PRAKASH KAUR REPORTED IN 2007 (2) SCC 711
Exhibit	P5	A TRUE COPY OF THE NOTICE DATED 22.02.2023 SENT BY THE RESPONDENT
Exhibit	P6	A TRUE COPY OF THE POSTAL COVER EVIDENCING RECEIPT OF EXHIBIT.P5 NOTICE FROM THE 1ST RESPONDENT ON 23.02.2023
Exhibit	P7	A TRUE COPY OF THE COMPLAINT DATED 23.02.2023 FILED BY THE PETITIONER BEFORE THE 2ND RESPONDENT
Exhibit	P8	A TRUE COPY OF THE REPRESENTATION DATED 23.02.2023 FILED BY THE PETITIONER BEFORE THE 3RD RESPONDENT

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RESPONDENTS' EXHIBITS : NIL.

Binil M.V v. M/S. Tata Motors Finance Ltd.

Case brief

What is this about?

What did the court decide?

Binil M.V v. M/S. Tata Motors Finance Ltd.

Case brief

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What did the court decide?

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