Kerala High Court
WP(C)/13003/2025 of SUSHAMA K., Vs BAJAJ HOUSING FINANCE LIMITED & OTHERS, on 2 April 2025
W.P (C) No.13003/2025 -1- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 2ND DAY OF APRIL 2025 / 12TH CHAITHRA, 1947 WP(C) NO. 13003 OF 2025 PETITIONER/S: SUSHAMA K., AGED 55 YEARS W/O. T.P. SHIVADAS, RESIDING AT 240 KALATHINGAL,
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
WEDNESDAY, THE 2ND DAY OF APRIL 2025 / 12TH CHAITHRA, 1947
WP(C) NO. 13003 OF 2025
PETITIONER/S:
SUSHAMA K.,
AGED 55 YEARS
W/O. T.P. SHIVADAS, RESIDING AT 240 KALATHINGAL, PUNNAYURKULAM, TRICHUR, KERALA – 67956, PRESENTLY
RESIDING AT BRINDAVAN HOUSE NO.(66), NEDUNGADI LANE, MANKAVE, KOZHIKODE, PIN - 673007
BY ADV MOHAMMED ASHRAF
RESPONDENT/S:
BAJAJ HOUSING FINANCE LIMITED & OTHERS,
REPRESENTED BY ITS AUTHORISED ZFFICER, OFF. NO 14TH
FLOOR, AGGARWAL METRO HEIGHTS, PLOT – E5, NETAJI SUBASH
PLACE, PITAMPURA, NEW DELHI, PIN - 110034
BRANCH MANAGER,
BAJAJ HOUSING FINANCE LIMITED, 4TH FLOOR BCG ESTATE, PALARIVATTOM, COCHIN, PIN - 682025
THE RESERVE BANK OF INDIA,
REGIONAL MANAGER, BANERJI ROAD, ERNAKULAM NORTH, KOCHI, PIN - 68201
BY ADVS.
SHEEN JOSE
ANI THAMPI(K/3612/2024)
ALEENA JOHNY(K/004068/2023)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
02.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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J U D G M E N T
Petitioner has approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due upon a loan availed by the petitioner.
2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account.
3. It is submitted on behalf of the respondent financial institution that the petitioner committed default in repayment and the overdue amount as on 01-04-2025 is Rs.7,93,232/-. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent financial institution is willing to accept repayment of the overdue amount in limited instalments and regularise the loan account.
4. Having heard the learned counsel for the petitioner and the learned Standing Counsel for the respondent financial institution and having regard to the facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs/instalments, I am of the view that the petitioner can be granted an opportunity to clear off the overdue amount in ten (10) equal monthly instalments first of which shall be paid on or before 30-04-2025 and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.
5. Accordingly, there will be a direction to the respondent financial institution to accept repayment of the entire overdue amount of Rs.7,93,232/- along with interest, charges and costs from the petitioner and regularise the loan account of the petitioner in the following manner:-
(i) The overdue amount of Rs.7,93,232/- together with any accrued interest, bank charges and costs shall be repaid in ten equated monthly instalments;
(ii) The first instalment shall be paid on or before 30-04-2025 and the subsequent instalments shall be paid on or before the last working day of each succeeding month;
(iii) Petitioner shall continue to pay the regular EMI’s / instalments along with the instalments directed above;
(iv) In the event of default of any one instalment, the respondent financial institution shall be entitled to proceed in accordance
with the law;
(v) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance. On payment of a total sum of Rs.3,00,000/- towards the overdue amount the possession of the secured asset, which has been taken, shall be restored to the petitioner. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE AMG
APPENDIX OF WP(C) 13003/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPIES OF THE MEDICAL RECORDS AND DISCHARGE SUMMARIES OF THE PETITIONERS HUSBAND Exhibit P2 A TRUE COPY OF THE EMAIL DATED 13/09/2024 Exhibit P3 A TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENTS Exhibit P4 TRUE COPY OF THE EMAIL ISSUED BY THE PETITIONER DATED 21/12/2024 Exhibit P5 A TRUE COPY OF THE OBJECTION NOTICE DATED 16/01/2025 Exhibit P6 A TRUE COPY OF THE POSSESSION NOTICE DATED 16/01/2025 Exhibit P7 A TRUE COPY OF THE RESPONDENT BANK’S REPLY REPRESENTATION DTD 18/01/2025 Exhibit P8 TRUE COPY OF THE EMAIL SENT TO THE 3RD RESPONDENT DATED 17/03/2025