Preju vs Dewan Housing Finance … on 15 April, 2009

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WP(C).No. 29338 of 2008(P)


1. PREJU, AGED 35, W/O.SABU KUMAR,
                      ...  Petitioner

                        Vs



1. DEWAN HOUSING FINANCE CORPORATION LTD.,
                       ...       Respondent

                For Petitioner  :SRI.S.V.PREMAKUMARAN NAIR

                For Respondent  :SRI.BASIL THOMAS

The Hon'ble MR. Justice S.SIRI JAGAN

 Dated :15/04/2009

 O R D E R
                      S. SIRI JAGAN, J.
              --------------------------------------
                   W.P.(C).No.29338 of 2008
               --------------------------------------
                    Dated: APRIL 15, 2009

                          JUDGMENT

The petitioner owes money to the respondent by way

of repayment of a loan advanced to her by the respondent.

Since the petitioner committed default in repayment, the

respondent initiated proceedings under the Securitization

and Re-construction of Financial Assets and Enforcement of

Security Interest Act, 2002. The same is under challenge

in this writ petition. On 19.12.2008 this court passed the

following interim order:-

“Following the order dated 3.10.2008, petitioner has

deposited Rs.2 lakhs. That deposit obviously was in

October, 2008. Under such circumstances, interim

order is extended until further orders on condition that

the petitioner deposits at the rate of Rs.2 lakhs per

month payable on or before the last working day of

every month commencing from December, 2008. If the

petitioner fails to deposit any of the instalments as

W.P.(C).No.29338 of 2008
2

aforesaid, this order of stay will stand recalled

automatically and the respondents will be at liberty to

forthwith proceed with distress action. The

respondent will be at liberty to bring up the matter by

filing counter affidavit, if so advised.”

2. The learned counsel for the respondent submits that

the petitioner has not complied with the said direction. In

the above circumstances I am not satisfied that the

petitioner is entitled to any further indulgence in the matter.

Even otherwise, in proceedings under the Securitization and

Re-construction of Financial Assets and Enforcement of

Security Interest Act, 2002, the remedy of the petitioner lies

in filing an appeal to the Debt Recovery Tribunal.

In the above circumstances this writ petition is

dismissed.

S. SIRI JAGAN
JUDGE

mt/-