Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE N.NAGARESH THURSDAY, THE 29TH DAY OF FEBRUARY 2024/10TH PHALGUNA, 1945 OP (DRT) NO. 485 OF 2022 SA NO.495 OF 2022 OF THE DEBTS RECOVERY TRIBUNAL, ERNAKULAM PETITIONERS/APPLICANTS:
1 RAVIKUMAR P.
AGED 58 YEARS, S/O. SHIVASANKARAN NAIR P.C., T. 12/10, EAGLE TON ENCLAVE, SHANUMANGALA ROAD, BIDADI, HOBLI, BENGALURU, KARNATAKA, PIN – 562 109.
2 SINDHU K.G.
W/O. RAVIKUMAR P., T. 12/10, EAGLE TON ENCLAVE, SHANUMANGALA ROAD, BIDADI, HOBLI, BENGALURU, KARNATAKA, PIN – 562 109.
BY ADVS.
N.K.SUBRAMANIAN M.RISHIKESH SHENOY(K/1027/2001) GEORGE G.POOTHICOTE(K/901/1990) ANN MARY.V.I(K/001298/2023) ATHUL TOM(K/1424/2018) RESPONDENT/DEFENDANT:
HDFC LTD.
HDFC HOUSE, PO NO. 1667, RAVIPURAM JUNCTION, M.G. ROAD, KOCHI REPRESENTED BY ITS AUTHORIZED OFFICER, PIN – 682 016.
BY ADVS.
AMBILY S K.K.CHANDRAN PILLAI (SR.)(C-41) LAKSHMI ANIL(K/002184/2022) THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 29.02.2024, ALONG WITH WP(C).30148/2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
O.P.(DRT) No.485 of 2022 and W.P.(C) No.30148 of 2023 : 2 :
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE N.NAGARESH THURSDAY, THE 29TH DAY OF FEBRUARY 2024 / 10TH PHALGUNA, 1945 WP(C) NO. 30148 OF 2023 PETITIONERS:
1 THE HDFC BANK LIMITED (EARLIER HDFC LTD) , HDFC HOUSE, RAVIPURAM, KOCHI 682015, REPRESENTED BY ITS SENIOR MANAGER AND PRINCIPAL OFFICER A.S.SACHIN.
2 THE AUTHORIZED OFFICER, HDFC BANK LIMITED, (EARLIER HDFC LTD), HDFC HOUSE, RAVIPURAM, KOCHI, PIN – 682 015.
BY ADVS.
S.AMBILY RUPA R. NAIR RUBAN JOE TONIYO MATHEW JOSEPH BALUMMEL K.K.CHANDRAN PILLAI (SR.)
RESPONDENTS:
1 RELIANCE PROJECT AND PROPERTY MANAGEMENT SERVICES LTD., CHANDRIKA CHAMBER, S.A.ROAD, VYTTILA,KOCHI-682019, REPRESENTED BY ITS STATE HEAD MR.SREERAJ UNNI.
2 THE COMPANY SECRETARY, RELIANCE PROJECT AND PROPERTY MANAGEMENT SERVICES LTD., CHANDRIKA'CHAMBER, S.A.ROAD, VYTTILA,KOCHI, PIN – 682 019.
3 BHARAT SANCHAR NIGAM LTD., OFFICE OF THE GENERAL MANAGER TELECOM, BSNL, DPO ROAD, UP HILL, MALAPPURAM REPRESENTED BY ITS GENERAL MANAGER, PIN – 676 505.
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4 P. RAVIKUMAR , S/O.SHIVASANKARAN NAIR P.C. T.12/10, EAGLETON ENCLAVE, SHANUMANGALA ROAD, BIDADY HOBBLI BANGALORE, PIN – 562 109.
5 K.G.SINDHU , W /O P. RAVIKUMAR P.C. T.12/10, EAGLETON ENCLAVE, SHANUMANGALA ROAD, BIDADY HOBBLI BANGALORE, PIN – 562 109.
BY ADVS.
G.HARIKUMAR (GOPINATHAN NAIR), FOR R1 SMT.I. SHEELA DEVI, FOR R3 N.K.SUBRAMANIAN, FOR R4 AKHIL SURESH M.RISHIKESH SHENOY(K/1027/2001) GEORGE G.POOTHICOTE(K/901/1990) ATHUL TOM(K/1424/2018) ANN MARY.V.I(K/001298/2023) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29.02.2024, ALONG WITH OP (DRT).485/2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT Dated this the 29th day of February, 2024 [O.P.(DRT) No.485 of 2022 and W.P.(C) No.30148 of 2023] O.P.(DRT) No.485/2022 has been filed by the borrower of a financial advance from the HDFC Bank, seeking the following reliefs:
(i) To issue an order setting aside Ext. P6 order of the Debts Recovery Tribunal-1, Ernakulam.
(ii) To issue an order of Stay as sought for in Exts.P2 and P4 pending disposal of the Ext.P1 application.
(iii) To grant such other reliefs as this Honourable Court may deem fit just and proper in the circumstances of the case.
2.
W.P.(C) No.30148/2023 has been filed by the HDFC Bank seeking the following reliefs:
(i) to direct respondents 1 to 3 to pay directly to the 1st petitioner all amounts including the rent arrears if any payable by them to respondents 4 and 5 or to any one of them as lease amount/rental amount payable by them for occupying the premises belonging to them or any one of them having an extent of 12.14 Ares of property comprised in Survey No. 78/1-1 of Angadippuram Village in Perinthalmanna Taluk with building situate thereon and over which mobile tower is constructed by the 3rd respondent from the date on
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which Exts.P6 and P7 demands are received by them and continue to pay the same to the petitioners till the entire debt due from respondents 4 and 5 to the 1st petitioner is wiped off in full;
(ii) to grant such other reliefs as may be prayed for during the course of the pendency of the above writ petition before this Hon'ble Court.
3.
When these original petition and writ petition came up for hearing today, the petitioner in O.P.(DRT) No.485/2022 submitted that pending litigation, the petitioner entered into a settlement with the Bank on certain terms. The terms of settlement is quoted in the affidavit filed in I.A No.1/2024. Paragraph 2 of the affidavit reads as follows:
2) It is submitted that during the pendency of the original petition, we the petitioners have struck a settlement with the respondent out of Court on agreed terms and conditions. According to the said terms and conditions, the respondent Bank has regularized the loan by clearing the outstanding arrears amounting to Rs.1.48 crores as on 25.01.2024, as accepted by us. Further, it is submitted that the amount so fixed has been paid in parts; Rs.10 lakhs on 19.01.2024, which is already been paid through online payment mode; another amount of Rs.40 lakhs to be paid on or before 22.01.2024, the said amount also stands paid on 22.01.2024; Rs.30 lakhs to be paid on 23.01.2024 and Rs.20 Lakhs to be paid on 24.01.2024, those amounts are also stands paid on 23.01.2024 and 24.01.2024 respectively. The respondent has agreed and permitted us to pay the balance Rs.48 lakhs in 12 equal installments starting from 31.03.2024 itself, but, of course, without any default. Further, it is also agreed that the rent payable to me by Reliance (which is my tenant) will be directed to pay directly to the respondent herein from 31.01.2024
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as towards the repayment of the loan. I have also agreed to provide necessary GST bills to Reliance (my tenant) for making such payment to the respondent herein.
4.
Standing
Counsel
appearing
for
the petitioner-Bank in W.P.(C) No.30148/2023 submits that the overdue arrears payable by the petitioner in O.P.(DRT) No.485/2022 amounting to Rs.48 lakhs has to be paid by the petitioner in 12 equal and consecutive monthly instalments.
As regards the current EMIs payable to the loan accounts, respondents 1 and 2 in W.P.(C) No.30148/2023 have to pay the rent in respect of building directly to the Bank.
5.
In view of the settlement entered into by the parties, the petitioners in O.P.(DRT) No.485/2022 and W.P.(C) No.30148/2023 are directed to abide by the terms of settlement. The 3rd respondent-BSNL in W.P.(C) No.30148/2023 will be at liberty to pay the rent dues to the landlord. Respondents 1 and 2 in W.P.(C) No.30148/2023 are directed to pay the monthly rent directly to the Bank during the period of operation of the settlement.
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O.P.(DRT)
No.485/2022
and
W.P.(C) No.30148/2023 are disposed of as above. The petitioner in O.P.(DRT) No.485/2022 may move the Debts Recovery Tribunal-I for disposal of S.A No.495/2022 in terms of the settlement arrived at.
Sd/- N. NAGARESH JUDGE AMR
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APPENDIX OF OP (DRT) 485/2022 PETITIONERS’ EXHIBITS Exhibit P1 A COPY OF THE SECURITISATION APPLICATION NO. 495 OF 2022 ALONG WITH ITS ANNEXURES.
Exhibit P2 A COPY OF THE APPLICATION FOR STAY AS I.A. NO. 2365/2022.
Exhibit P3 A COPY OF THE PETITION FOR AMENDMENT OF THE S.A. AS I.A. NO. 2640/2022.
Exhibit P4 A COPY OF THE STAY PETITION I.A. NO.
2641 OF 2022.
Exhibit P5 COPY OF THE PROCEEDINGS IN S.A. NO.
495 OF 2022 ON THE FILES OF DRT-I, ERNAKULAM.
Exhibit P6 CERTIFIED COPY OF THE ORDER DATED 15.11.2022 IN I.A. NO. 2641 OF 2022 OF THE DRT-I.
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APPENDIX OF WP(C) 30148/2023 PETITIONERS’ EXHIBITS Exhibit P1 COPY OF THE ORDER DATED 06.01.2022 IN CRL.M.P.NO.2321/2021 OF THE CJM COURT MANJERI.
Exhibit P2 COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER TO THE 3RD RESPONDENT DATED 22.06.2022.
Exhibit P3 COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER TO THE 1ST RESPONDENT DATED 17.02.2022.
Exhibit P4 COPY OF THE LETTER SENT TO RESPONDENTS 4 AND 5 BY THE 2ND PETITIONER DATED 30.11.2022.
Exhibit P5 COPY OF THE POSSESSION NOTICE PUBLISHED IN NEW INDIAN EXPRESS DAILY DATED 30.11.2022.
Exhibit P 6 COPY OF THE LETTER SENT BY THE 1ST PETITIONER TO THE 1ST RESPONDENT DATED 30.11.2022.
Exhibit P7 COPY OF THE LETTER SENT BY THE 1ST PETITIONER TO THE 3RD RESPONDENT DATED 30.11.2022.
Exhibit P8 COPY OF THE REPLY GIVEN BY THE 1ST RESPONDENT TO THE 1ST PETITIONER DATED 21.12.2022.
RESPONDENTS’ EXHIBITS EXHIBIT R4(a) COPY OF THE DUPLICATE COPY OF THE AGREEMENT DATED 22ND JULY,2019.
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EXHIBIT R4(b) COPY OF AGREEMENT DATED 21ST SEPTEMBER,2021.
EXHIBIT R4(C) COPY
OF
COMMUNICATION
DATED 06.10.2021.