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IN THE HIGH COURT OF KERALA AT ERNAKULAM
BASANT BALAJI, J
RENJITH V – Appellant
Versus
SUNDARAM HOME FINANCE LTD – Respondent
WP(C) NO. 48115 OF 2025
| Table of Content |
|---|
| 1. petitioner initiated a housing loan with a default leading to sarfaesi act proceedings. (Para 1) |
| 2. respondent stated overdue amount and agreed to loan account regularization. (Para 2) |
| 3. court's ruling permitted installment payments and outlined conditions for repayment. (Para 3) |
JUDGMENT
(Dated this the 30th day of January 2026)
The petitioner availed a housing loan of Rs.25,00,000/- from the respondent- financial institution in the year 2020 for a period of 25 years by mortgaging his residential property as security. Upon default, the respondent initiated proceedings under the SARFAESI Act , 2002, and an Advocate Commissioner was appointed by order dated 25.11.2025 in MC No.1478/2025, to take possession of the secured asset. The petitioner approached this Court seeking sufficient installments to clear the overdue amount in the loan account.
2. The learned counsel for the respondent, on instructions, submits that the overdue amount as on date is Rs.1,45,940/-. The respondent has no objection in regularizing the loan account.
3. Having heard the learned counsel on both sides, and taking note of the fact that the respondent is proposing to take physical possession of the property and since the Bank has no objection in regularizing the loan account, I deem it appropriate to dispose of this writ petition with the following directions:
a) The petitioner shall remit the overdue amount of Rs.1,45,940/- (Rupees one lakh forty five thousand nine hundred and forty only) together with any accrued interest, cost and allied charges, in three (3) equated monthly installments, starting from 15.02.2026 and the subsequent installments shall be paid on or before 15th of every succeeding month.
b) The petitioner shall continue to pay the regular EMIs/installments along with the installments as directed above.
c) In the event of default of any one installment, the respondent shall be entitled to proceed in accordance with law.
d) All coercive proceedings shall be kept in abeyance to enable the petitioner to repay the entire amount as directed above.
Sd/-
BASANT BALAJI JUDGE JS APPENDIX OF WP(C) NO. 48115 OF 2025 PETITIONER EXHIBITS Exhibit P-1 TRUE COPY OF THE ORDER IN MC NO 1478/2025 DATED
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