Muhammed Rashid Vaniya Peediyekkal vs. Tata Capital Financial Services LTD
Held
The Court directed the petitioner to remit ₹1,00,000/- within three weeks and approach the respondents for regularisation of the loan account. The respondents were directed to take an appropriate decision in accordance with law, and the Court recorded that no coercive proceedings had been initiated as of the judgment date.
Facts
The petitioner defaulted on two vehicle loans from Tata Capital Financial Services Ltd, owing ₹3,14,000/-. Fearing forceful vehicle possession by the lender, the petitioner approached the High Court seeking relief.
Key Issues
The key legal issue was the petitioner's apprehension of forceful vehicle possession due to loan defaults and seeking an opportunity to regularize the loan account.
AI-generated summary — verify with the full judgment below
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE N.NAGARESH THURSDAY, THE 26TH DAY OF OCTOBER 2023 / 4TH KARTHIKA, 1945 WP(C) NO. 32946 OF 2023 PETITIONER: MUHAMMED RASHID VANIYA PEEDIYEKKAL AGED 37 YEARS, S/O KUNHEEN HAJI PROPRIETOR, SHREELA PACKS, 12/387, KULUKKALLUR, PATTAMBI, PALAKKAD, PIN – 679 337. BY ADVS. ABHIJITH E.R. SNEHA M.S. RESPONDENTS: 1 TATA CAPITAL FINANCIAL SERVICES LTD GROUND FLOOR, JAIN TOWER, 2, OLD NH17, NEAR LULU MALL, NETHAJI NAGAR, EDAPPALLY, KOCHI, ERNAKULAM, KERALA, PIN – 682 024 (APPOINTED UNDER THE SARFAESI ACT) 2 THE AUTHORISED OFFICER, (APPOINTED UNDER THE SARFAESI ACT) TATA CAPITAL FINANCIAL SERVICES LTD GROUND FLOOR, JAIN TOWER, 2, OLD NH17, NEAR LULU MALL, NETHAJI NAGAR, EDAPPALLY, KOCHI, ERNAKULAM, KERALA, PIN – 682 024. BY ADV PAULOCHAN ANTONY – STANDING COUNSEL THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26.10.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C) No.32946 of 2023 : 2 : JUDGMENT Dated this the 26th day of October, 2023 The petitioner submits that the petitioner has taken two vehicle loans from the 1st respondent and six installments were de
The judgment continues below.
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