Kerala High Court
Harikumar. N.S vs Union Bank Of India on 4 February, 2016
Author: K.Vinod Chandran
Bench: K.Vinod Chandran
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE K.VINOD CHANDRAN
WEDNESDAY, THE 5TH DAYOF APRIL 2017/15TH CHAITHRA, 1939
WP(C).No. 11871 of 2017 (H)
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PETITIONER(S):
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1. HARIKUMAR. N.S., AGED 49 YEARS,
S/O. SREEDHARA PILLAI, SOBHA BHAVAN,
PANANKARA, VELLAIKADAVU,
KODUNGANOOR P.O.,THIRUVANANTHAPURAM-695 013.
2. SOBHA HARIKUMAR,
W/O. HARIKUMAR, SOBHA BHAVAN,
PANANKARA, VELLAIKADAVU,
KODUNGANOOR P.O.,THIRUVANANTHAPURAM-695 013.
BY ADVS.SRI.G.SUDHEER,
SMT.N.P.ASHA.
RESPONDENT(S):
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UNION BANK OF INDIA,
MAIN BRANCH, M.G. ROAD,
STATUE, THIRUVANANTHAPURAM,
REPRESENTED BY ITS CHIEF MANAGER/
AUTHORISED OFFICER, THIRUVANANTHAPURAM-695 001.
BY SRI.A.S.P.KURUP, SC.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 05-04-2017, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
rs.
WP(C).No. 11871 of 2017 (H)
APPENDIX
PETITIONER'S EXHIBITS:-
EXT.P1 COPY OF THE DISABILITY CERTIFICATE ISSUED BY MEDICAL OFFICE
OF HEALTH, THIRUVANANTHAPURAM DATED 04/02/2016.
EXT.P1A COPY OF THE CERTIFICATE ISSUED BY THE CONSULTANT
NEUROSURGEON TC MEDICAL COUNCIL, KERALA.
EXT.P2 COPY OF THE NOTICE SECTION 13(2) OF SARFAESI ACT
ISSUED BY THE RESPONDENT BANK DATED 12/04/2016.
EXT.P3 COPY OF THE NOTICE DATED 09/03/2016 ISSUED BY THE
ADVOCATE COMMISSIONER IN MC. NO.952/2016 OF THE
HONOURABLE CHIEF JUDICIAL MAGISTRATE COURT,
THIRUVANANTHAPURAM.
RESPONDENT'S EXHIBITS:- NIL.
//TRUE COPY//
P.S.TO JUDGE
rs.
K. Vinod Chandran, J
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W.P.(C).No.11871 of 2017-H
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Dated this the 05th day of April, 2017
JUDGMENT
The petitioners availed two Housing Loans, by mortgaging properties, and had committed default in the same. Since default was committed, the respondent-Bank has initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for brevity "SARFAESI Act"].
2. The learned Standing Counsel for the respondent-Bank submits that the total defaulted arrears in the loan accounts, as on today, is Rs.1,81,000/- [Rupees one lakh and eighty one thousand only].
3. Considering the facts and the impecunious circumstances pleaded by the petitioners, it is directed that the respondent-Bank shall grant ten monthly instalments for the payment of the defaulted arrears in the loan account, starting from 05.05.2017 and followed up on the 05th of every succeeding month. Recovery proceedings shall be kept in abeyance on condition that the WP(C) No.11871 of 2017 - 2 - remittances as per this order are made without any default, along with regular EMIs on the respective due dates and also interest as it accrues in the account. On the petitioner satisfying the entire arrears as also the regular EMIs, the petitioners shall be permitted to regularise the account and repay it on EMIs as per the original agreement. If two defaults are committed during the instalment period granted by this Court, respondent-Bank shall proceed with the recovery proceedings initiated.
The writ petition is disposed of as above.
Sd/-
K.Vinod Chandran Judge.
vku/-
[ true copy ]