Ravikumar P. vs. Hdfc LTD.
Held
The High Court disposed of both the original petition and the writ petition, directing the parties to abide by the out-of-court settlement terms they had reached. The settlement included payment of arrears, installment payments for the balance, and direct payment of rent from one tenant (Reliance) to the bank.
Facts
Borrowers defaulted on a financial advance from HDFC Bank, leading to recovery proceedings and a challenge before the Debts Recovery Tribunal. The bank also filed a writ petition seeking a direction for the borrowers' tenants to pay rent directly to the bank to cover the outstanding debt.
Key Issues
The key issues involved the legality of a DRT order challenged by the borrowers and the bank's request for tenants to directly remit rent to satisfy the outstanding loan, all of which were resolved through an out-of-court settlement.
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Heard together (2 matters)
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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 P
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