2025:KER:28468 WP(C) NO. 18784 OF 2023 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 3RD DAY OF APRIL 2025 / 13TH CHAITHRA, 1947 WP(C) NO. 18784 OF 2023 PETITIONER/S: ANOOP M.R., AGED 38 YEARS S/O. MANOHARAN, PROPRIETOR, DIRECT LINE, PP/82, THERUVILA, POTHENKODU, THIRUVANANTHAPURAM, KERALA, INDIA, PIN - 695584 BY ADVS. V.R.GOPU J.NARAYANA PILLAI ADIL.M.H URMILA.M.G RESPONDENT/S: 1 INDIABULLS HOUSING FINANCE LTD., 5TH FLOOR, BUILDING NO.27, KG MARG, CONNAUGHT PLACE, NEW DELHI, REPRESENTED BY ITS GENERAL MANAGER, PIN - 110001 2 THE AUTHORIZED OFFICER,INDIABULLS HOUSING FINANCE LTD., PMG JUNCTION, PATTOM, THIRUVANANTHAPURAM-695004, PIN - 695004 3 THE MANAGER,ASSETS CAR & RE-CONSTRUCTION ENTERPRISES LTD., 2ND FLOOR, MOHANDEV, BUILDING NO.13, TOLSTOY MARG, NEW DELHI-110001, PIN - 110001 BY ADVS. MADHU RADHAKRISHNAN NELSON JOSEPH M.D.JOSEPH DEEPAK ASHOK KUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28468 WP(C) NO. 18784 OF 2023 2 JUDGMENT Petitioner has approached this Court, seeking the following reliefs:- ‘’(i) To declare that respondents have no right to take over the possession of the secured asset in the loan Account No.HLAPTVD00442059 without issuing notices as contemplated under the SARFAESI Act; (ii) To issue a writ in the nature of mandamus or other appropriate writ or direction commanding the respondents to allow petitioner to repay the loan amount under One Time Settlement; (iii) To issue a writ in the nature of mandamus or other appropriate writ or direction commanding the respondents to consider and take appropriate decision on Exhibit P1 proposal for One Time Settlement after giving petitioner an opportunity to her on the proposal; (iv) To issue a direction to the respondents to allow petitioner to repay the loan amount in instalments.’’ 2. Learned counsel appearing for the respondent bank submits that pending this writ petition before this Court, the petitioner was granted One Time Settlement, at his request. It is submitted that, the petitioner failed to comply with the terms upon which the One Time Settlement was offered and therefore, the One Time Settlement stands cancelled. It is submitted that, if the petitioner were to submit a fresh proposal for One Time Settlement before the 3rd respondent, the same can be considered by the 3rd respondent provided the petitioner makes an upfront payment towards the loan liability. 2025:KER:28468 WP(C) NO. 18784 OF 2023 3 3. Learned counsel appearing for the petitioner would submit that some amounts were paid by the petitioner pursuant to the One Time Settlement granted to the petitioner . It is submitted that, despite request to the 3rd respondent (which has taken over the loan on assignment from the 1st respondent), the 3rd respondent has failed to provide a statement of account to the petitioner. 4. Having heard the learned counsel appearing for the petitioner and the learned counsel appearing for the respondent, the writ petition will stand disposed of, directing that, on the petitioner submitting a request before the 3rd respondent [clearly indicating the e-mail account to which statement of account has to be sent], the 3rd respondent shall provide an up to date statement of the loan account to the petitioner by e-mail. This shall be done within a period of one week from the date of receipt of a certified copy of this judgment. Within a period of two weeks from the date on which the petitioner receives the statement from the 3rd respondent, the petitioner may file a fresh application for One Time Settlement along with an upfront payment Rs.1,00,000/- (Rupees One lakh only) for One Time Settlement. If such application is received within the time aforesaid along with the 2025:KER:28468 WP(C) NO. 18784 OF 2023 4 payment as directed above, a decision on the application for One Time Settlement shall be taken by the 3rd respondent and the same shall be duly communicated to the petitioner . Till such time as a decision is taken on the fresh application for One Time Settlement [to be submitted by the petitioner], further proceedings under the SARFAESI Act shall remain suspended. Sd/- GOPINATH P. JUDGE ajt 2025:KER:28468 WP(C) NO. 18784 OF 2023 5 APPENDIX OF WP(C) 18784/2023 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE ONE TIME SETTLEMENT PROPOSAL SUBMITTED BY THE PETITIONER TO THE 3RD RESPONDENT DATED 1.5.2023 Exhibit P2 TRUE COPY OF THE STATEMENT OF ACCOUNT OF THE LOAN ACCOUNT NO.HLAPTVD00442059 IN FAVOUR OF PETITIONER ISSUED BY THE 3RD RESPONDENT DATED 29.5.2023 Exhibit P3 COPY OF THE LETTER FOR SETTLEMENT RECEIVED FROM 3RD RESPONDENT DATED 25.01.2024 RESPONDENT EXHIBITS Exhibit R2 The True copy of symbolic possession notice dated 03.01.2020 along with postal receipts and publications. Exhibit R3 The true copy of settlement letter dated 12.06.2023 Exhibit R4 The true copy of settlement letter dated 25.01.2024 Exhibit R1 The True copy of Section 13(2) notice along with courier receipts and publications dated 28.09.2019 PETITIONER EXHIBITS Exhibit P4 THE TRUE COPY OF THE RECEIPT OF THE PAYMENT MADE BY PETITIONER TO THE ACCOUNT OF 3RD RESPONDENT DATED 22.2.2024 Exhibit P5 THE TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER BASED ON THE ORDER IN M.C.NO.1310/2024 OF CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM DATED 6.3.2025