S.Unnikrishnan vs P.N.B.Housing Finance Ltd on 22 September, 2010

       

  

  

 
 
  IN THE HIGH COURT OF KERALA AT ERNAKULAM

WA.No. 1300 of 2010()


1. S.UNNIKRISHNAN, S/O.SUKUMARAN,
                      ...  Petitioner

                        Vs



1. P.N.B.HOUSING FINANCE LTD.,
                       ...       Respondent

2. THE AUTHORIZED OFFICER,

3. THE DISTRICT COLLECTOR,

                For Petitioner  :SRI.C.K.MOHANAN

                For Respondent  :SRI.R.S.MOHANAN NAIR

The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR
The Hon'ble MR. Justice K.SURENDRA MOHAN

 Dated :22/09/2010

 O R D E R
               C.N.RAMACHANDRAN NAIR &
                   K.SURENDRA MOHAN, JJ.
                       -------------------------
                     W.A No.1300 of 2010
                      --------------------------
            Dated this the 22nd September, 2010


                        J U D G M E N T

Ramachandran Nair, J.

The writ petition was filed challenging the recovery

proceedings for recovery of arrears of a house building

loan availed by the appellant from the 1st respondent which

is a subsidiary of Punjab National Bank Ltd.

2. We have heard learned counsel appearing for

the appellant and learned standing counsel appearing for

the 1st respondent.

3. Ext.P5 shows that as on 17.5.2010 the appellant

was in arrears of only of an amount of Rs.19,198/-. The

first respondent vide Ext.P5 directed the appellant to

make payment of the said amount to regularise the

account. However, within a week, thereafter they issued

Ext.P6 recalling the loan and demanding the entire

balance amount which is over Rs.2 lakhs. It is against

Ext.P6 the appellant approached this Court with the writ

petition. Admittedly, under interim orders appellant has

paid Rs.75,000/- in two instalments and the balance of the

W.A No.1300 of 2010
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entire loan amount is Rs.1,22,000/-. In fact, the appellant

has further 34 months time to clear the arrears in terms of

the instalment scheme. The prayer is to restore the

installment facility. In view of the payment of Rs.75,000/-,

we feel the appellant is entitled to the restoration of the

installment facility.

The writ appeal is accordingly allowed by vacating the

judgment of the learned Single Judge and by granting

monthly instalment of Rs.5,000/- each. First instalment will

be paid by the appellant on or before the 5th of November,

2010 and the entire balance amount without fail will be

remitted in same monthly instalments before the 5th of

every succeeding month. In the event of default in the

payment of instalment, the facility granted by us will stand

automatically vacated and respondents can proceed with

recovery.

C.N.RAMACHANDRAN NAIR
JUDGE

K.SURENDRA MOHAN
JUDGE
ma

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