Madras High Court
I.Iyappan vs The Authorized Officer on 15 November, 2022
Author: R.Mahadevan
Bench: R.Mahadevan, J.Sathya Narayana Prasad
W.P(MD)No.14076 of 20223
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT
DATED : 15.11.2022
CORAM:
THE HONOURABLE MR.JUSTICE R.MAHADEVAN
and
THE HONOURABLE MR.JUSTICE J.SATHYA NARAYANA PRASAD
W.P(MD)No.14076 of 2022
and
W.M.P(MD)No.10048 of 2022
I.Iyappan ... Petitioner
vs.
1.The Authorized Officer,
Aptus Value Housing Finance India Limited,
8B, Doshi Towers,
205, Ponnamallee High Road,
Kilpauk, Chennai – 600 010.
2.The Branch Manager,
Aptus Value Housing Finance India Limited,
Door No.66/1B-1, 1st Floor,
Vannarpettai,
Tirunelveli – 627 003. ... Respondents
PRAYER : Writ Petition filed under Article 226 of the Constitution of India
praying for issuance of a Writ of Certiorarified Mandamus, to call for the
records of the first respondent's possession notice issued under Section
13(4) of the SARFAESI Act, dated 18.09.2021 and quash the same as
non-application of mind and consequently, direct the respondents to defer
all further proceedings under the SARFAESI Act.
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https://www.mhc.tn.gov.in/judis
W.P(MD)No.14076 of 20223
For Petitioner : Mr.T.Ramasamy
For R – 1 : Mr.V.Sugumar
ORDER
(Order of the Court was made by R.MAHADEVAN, J.) Challenging the impugned possession notice issued by the first respondent, dated 18.09.2021 under Section 13(4) of the SARFAESI Act, the petitioner has filed the present Writ Petition.
2. Today, when the matter was taken up for hearing, the learned counsel appearing for the petitioner submitted that the petitioner has complied with the conditional order dated 05.07.2022 passed by this Court and the petitioner has paid the entire loan amount. Now, the petitioner has to pay the interest amount only, for which, the petitioner is inclined to submit OTS proposal to the respondent Bank and therefore, it is suffice, if a direction is issued to the respondent Bank to consider the OTS proposal of the petitioner within a time frame.
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3.The learned counsel appearing for the first respondent submitted that if the petitioner submits any OTS proposal with regard to payment of interest alone, the same will be considered by the respondent Bank on merits and in accordance with RBI norms.
4.Though this Court cannot issue any positive direction to the respondent Bank to consider the OTS proposal of the petitioner, in view of the submission of the learned counsel appearing for the first respondent, the petitioner may submit his OTS proposal to the respondent Bank within a period of two weeks from the date of receipt of a copy of this order and the same may be considered by the respondent Bank as per the RBI norms within a period of four weeks thereafter.
5.Accordingly, this Writ Petition is disposed of. No costs.
Consequently, connected Miscellaneous Petitions are closed.
[R.M.D.,J.] [J.S.N.P.,J.]
15.11.2022
Index : Yes / No
Internet : Yes
ps
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https://www.mhc.tn.gov.in/judis W.P(MD)No.14076 of 20223 To
1.The Authorized Officer, Aptus Value Housing Finance India Limited, 8B, Doshi Towers, 205, Ponnamallee High Road, Kilpauk, Chennai – 600 010.
2.The Branch Manager, Aptus Value Housing Finance India Limited, Door No.66/1B-1, 1st Floor, Vannarpettai, Tirunelveli – 627 003.
4/5https://www.mhc.tn.gov.in/judis W.P(MD)No.14076 of 20223 R.MAHADEVAN,J.
and J.SATHYA NARAYANA PRASAD,J.
ps ORDER MADE IN W.P(MD)No.14076 of 2022 DATED : 15.11.2022 5/5 https://www.mhc.tn.gov.in/judis