IN THE HIGH COURT OF KERALA AT ERNAKULAM
WP(C).No. 6676 of 2009(D)
1. GOPINATHAN K, KARALATH HOUSE,
... Petitioner
Vs
1. CAN FIN HOMES LTD.,
... Respondent
2. THE MANAGER, CAN FIN HOMES LTD.,
For Petitioner :SRI.P.BHASKARAN
For Respondent :SRI.P.JACOB VARGHESE (SR.)
The Hon'ble MR. Justice V.GIRI
Dated :05/06/2009
O R D E R
V.GIRI,J.
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W.P ( C) No. 6676 of 2009
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Dated this the 5th June,2009
J U D G M E N T
Petitioner borrowed an amount of Rs.1,50,000/- from
the 1st respondent by way of housing loan. EMI was fixed
at Rs.2977/-. There was default in repayment of the
same. Bank initiated steps under the Securitisation and
Reconstruction of Financial Asset and Enforcement of
Security Interest Act, 2002 and Exhibit-P1 notice has
been issued. According to the petitioner, he is willing to
remit the entire amount due to the Bank provided he is
given the benefit of One Time Settlement Scheme.
Though OTS was offered to the petitioner, he could not
avail the same. Now since the Bank has issued a notice
under the Securitisation Act, it is up to the petitioner to
avail the remedy available under the statute in relation to
the proceedings under the Securitisation Act. In the
meanwhile, the Bank shall give a reply to the petitioner
indicating whether it is willing to accept the entire
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amount for the purpose of closure of the loan. If it is not
willing to do so, reason in respect of the same also should
be indicated in the reply to be furnished to the petitioner
by the Bank. The Bank shall also in the course of giving a
reply as mentioned above furnish to the petitioner true and
correct statement relating to the petitioner’s account.
The writ petition is disposed of as above.
(V.GIRI,JUDGE)
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