Ashok Bhushan, Ag. C.J
Heard the learned counsel for the appellant as well as the learned Standing Counsel appearing for the Bank.
2. This Writ Appeal has been filed against the judgment in W.P.(C) No.14365 of 2014, by which, the learned Single Judge disposed of the writ petition permitting the petitioner to deposit the outstanding defaulted amount in six instalments. The first instalment was to be paid by 30.7.2014.
3. The petitioner had taken a Housing Loan of `24,00,000/- from the respondent Bank in the year 2012 and had committed default in payment of regular EMI. Hence, the Bank initiated proceedings under the SARFAESI Act, 2002.
4. The petitioner's counsel submits that in pursuance to the order of this Court, the petitioner although deposited certain W.A. No.1451 of 2014 -: 2 :-
amount but, could not deposit the instalments as was directed by this Court. It is submitted that the said circumstances happened due to certain illness of her family member. It is submitted that, the petitioner, after the judgment, had deposited `90,000/- apart from the amount of `80,000/-, which she deposited in pursuance to the interim order. In view of the facts and submissions as made by the learned counsel for the appellant, we are of the view that one more opportunity could be given to the appellant to clear off the defaulted amount along with regular EMI.
In such circumstances, the Writ Appeal is disposed of with the following directions :-
(i) The Bank shall provide a statement of account to the appellant/petitioner by 31.10.2014 mentioning about the defaulted instalments as on date including the regular EMI. The total amount of defaulted amount plus regular EMI shall be intimated to the petitioner.
(ii) The petitioner shall pay the entire defaulted instalments along with regular EMI up to October, 2014 in five equal monthly instalments. The first instalment will be paid on or before W.A. No.1451 of 2014 -: 3 :-
30.11.2014 and thereafter by the end of each months.
(iii) The entire defaulted amount along with the regular EMI shall be paid by the appellant by 31.3.2015.
(iv) Subject to what is directed above, no action is to be taken by the Bank against the appellant.
(v) If any default in payment of any two instalments, it shall be open for the Bank to take further action against the appellant.
Sd/- ASHOK BHUSHAN, Ag. CHIEF JUSTICE.
Sd/-
A.M. SHAFFIQUE, J UDGE.
Jvt