Dismissed

Abi K Thomas, v. Gic Housing Finance Ltd.

Kerala HC20 Jul 2023WP(C)/9211/2022

Case brief

AI extract

What is this about?

The writ petition seeking an order to permit installment payment and regularization of a loan account was dismissed. The Court held that no extraordinary circumstances existed to interfere with the respondent's legal proceedings despite the petitioner's willingness to pay.

What did the court decide?

Dismissal of the writ petition without prejudice to the right to work out statutory remedies.

Abi K Thomas, Vs Gic Housing 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 C.S.DIAS

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THURSDAY, THE 20^TH DAY OF JULY 2023 / 29TH ASHADHA, 1945

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WP(C) NO. 9211 OF 2022

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PETITIONER:

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ABI K THOMAS, AGED 46 YEARS, S/O.K J THOMAS, KARUKKACHERIL HOUSE, VETTICKAL P.O., NEAR WELCARE NURSING COLLEGE, ERNAKULAM 682 314.

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BY ADV S.MUMTAZ

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RESPONDENTS:

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GIC HOUSING FINANCE LTD, REP. BY THE AUTHORIZED OFFICER, IST FLOOR, D.NO. XL/5369-A, ELIAS CHAMBERS, BANERJI ROAD, COCHIN 682 018.

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BY ADV RAJAN T R

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 20.07.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C)NO. 9211 OF 2022

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JUDGMENT

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Dated this the 20^th day of July 2023

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The writ petition is filed to direct the respondent to permit the petitioner to pay the overdue amount in instalments and regularise the loan account.

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The petitioner’s case is that, he had availed financial assistance from the respondent – Bank – by creating an equitable mortgage by deposit of title deeds. Due to unforeseen circumstances, he could not pay the instalments on time. Now respondent is threatening to take possession of the secured asset by invoking the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (in short, ‘Act’). The petitioner is willing to pay the overdue amount in instalments and regularise the loan account. Hence, the writ petition.

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WP(C)NO. 9211 OF 2022

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Heard; Smt.Mumtaz Shumsudden, the learned

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counsel appearing for the petitioner and Sri.T.R.Rajan, the learned counsel appearing for the respondent.

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Sri.T.R.Rajan, on instructions, submitted that the outstanding amount as on 30.3.2021 is Rs.21,70,000/-. The petitioner is a chronic defaulter and the respondent is not willing to extend any instalment facility to the petitioner. The petitioner may be relegated to exhaust his statutory remedies.

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The Hon’ble Supreme Court in South Indian Bank Ltd vs. Naveen Mathew Philip [2023 LiveLaw (SC) 320], after adverting to a myriad of earlier judicial pronouncements rendered under the Act, has categorically declared that High Courts shall not, unless in extra ordinary circumstances, interfere with proceedings initiated under the Act, in writ proceedings under Article 226 of the Constitution of India.

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Having considered the pleadings and

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materials on record and taking note of the submissions made by the respective counsel appearing for the parties, I find no extra ordinary circumstances to entertain the writ petition by exercising the discretionary powers of this Court. Nonetheless, it will be up to the petitioner to work out his statutory remedies in accordance with law.

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Resultantly, the writ petition is dismissed, without prejudice to the right of the petitioner to work out his remedies, in accordance with law.

sd/C.S.DIAS JUDGE

jes

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APPENDIX OF WP(C) 9211/2022

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PETITIONER’S EXHIBITS:

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Exhibit P1 TRUE COPY OF POSSESSION NOTICE DATED 24.09.2021 ISSUED BY THE RESPONDENT TO THE PETITIONER.

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Exhibit P2 TRUE COPY OF REQUEST LETTER DATED 11.10.2021.

Abi K Thomas, v. Gic Housing Finance Ltd.

Case brief

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Abi K Thomas, v. Gic Housing Finance Ltd.

Case brief

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