IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE K.SURENDRA MOHAN TUESDAY, THE 7TH SEPTEMBER 2010 / 16TH BHADRA 1932 WA.No. 1521 of 2010() --------------------- AGAINST THE JUDGEMENT/ORDER IN WPC.18182/2010 Dated 22/07/2010 .................... APPELLANT(S): PETITIONER ------------------------ PURUSHOTHAMAN E.M., ILLATH MEETHAL HOUSE, PUTHUR P.O., BADAGARA, KOZHIKODE DISTRICT. BY ADV. SRI.JOBI JOSE KONDODY RESPONDENT(S): RESPONDENTS -------------------------- 1. THE MANAGER, HOUSING DEVELOPMENT FINANCE CORPORATION LTD., IST FLOOR, SEIKEN CHAMBERS, KANNUR ROAD, KOZHIKODE - 673 001. 2. HOUSING DEVELOPMENT FINANCE CORPORATION LTD., RAMON HOUSE, 169 BACKBAY RECLOMATION, MUMBAI - 400020, REPRESENTED BY ITS AUTHORIZED OFFICE MR.BABY JOSEPH, BRANCH OFFICE, H.D.F.C. HOUSE, 3RD FLOOR, RAVIPURAM JUNCTION, M.G.ROAD, KOCHI - 682 015. THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 07/09/2010, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR, & K. SURENDRA MOHAN, JJ. -------------------------------------------- W. A. No. 1521 of 2010 -------------------------------------------- Dated this the 7th day of September, 2010 JUDGMENT Ramachandran Nair, J. Heard counsel for the appellant and standing counsel appearing for the respondents. The balance outstanding loan amount is around Rs. 1,35,701/- out of which Rs. 11,000/- is paid by the appellant towards first instalment in terms of the impugned judgment. The balance is therefore something like Rs. 1,25,000/-. The loan period will be over only 2016. Even though counsel for the respondents opposed the appellant's prayer for more instalments because of the default committed by him on earlier occasions, we feel one more facility can be granted liberalising the instalment scheme but on specific condition that a single default will lead to cancellation of instalment facility granted by us which is in terms of the undertaking given by counsel for the appellant. Further the condition stated in the impugned judgment that there will be no contest about balance demand from what is stated in the learned single Judge's judgment will also WA 1521/2010 2 stand unaffected by our judgment. Accordingly Writ Appeal is allowed in part by modifying the judgment under appeal to the extent of liberalising the instalments from 12 to 24. Since appellant has already paid one instalment, the balance arrears will be paid in 23 equal monthly instalments, first of which will be paid on or before 20th of October, 2010 and the balance on or before 20th of every succeeding month along with interest accruing on the balance amount. If the appellant commits a single default, the instalment facility granted by us will stand automatically cancelled and respondents will be free to proceed with recovery for the entire amount under the SARFESI Act. (C.N.RAMACHANDRAN NAIR) Judge. (K. SURENDRA MOHAN) Judge. kk WA 1521/2010 3