BY AD vs HARISH ABRAHAM
Case Details
I have heard the learned counsel for the petitioner and the learned Standing Counsel representing respondents 1 to 3.
10. A Housing Loan was sanctioned to the petitioner's deceased father, of an amount of ₹25 lakhs. An insurance premium loan of ₹92,850/- was also sanctioned. The borrower passed away on 31.12.2018.
11. The submission of respondents 1 to 3 is that the insurance application was rejected by the Insurer due to non- compliance of the procedure, terms and conditions as OP(DRT) No.194/2024 : 8 : directed by the Insurance Company. The Insurer had returned the premium which was about ₹18,000/-, and the amount credited to the SB account of the borrower during his life time. If that be so, the petitioner cannot raise any legal grievance against respondents 1 to 3. The prayer of the petitioner to declare that all measures initiated by the 1 st respondent under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 as illegal, is therefore not liable to be granted on the said ground urged by the petitioner. In the facts and circumstances of the case, the OP(DRT) is disposed of directing the Debts Recovery Tribunal-I, Ernakulam to dispose of SA No.750/2023 as expeditiously as possible and at any rate, within a period of three months. aks/11.07.2024 Sd/- N. NAGARESH, JUDGE OP(DRT) No.194/2024 : 9 : APPENDIX OF OP (DRT) 194/2024 PETITIONER'S EXHIBITS Exhibit P1 Exhibit P2 Exhibit P3 Exhibit P4 Exhibit P5 Exhibit P6 Exhibit P7 Exhibit P8 Exhibit P9 Exhibit P10 Exhibit P11 Exhibit P12 TRUE COPY OF THE BIRTH CERTIFICATE DATED 30.01.2007 ISSUED TO THE PETITIONER BY THE KOZHIKODE CORPORATION TRUE COPY OF THE ORDER OF THE DISTRICT & SESSIONS COURT, KOZHIKODE DATED 08.04.2022 IN G.O.P. NO.271/2021 TRUE COPY OF THE LEGAL HEIRSHIP CERTIFICATE DATED 14.09.2020 ISSUED IN THE NAME OF THE PETITIONER TRUE COPY OF THE POWER OF ATTORNEY DATED 18.02.2017 ISSUED IN FAVOUR OF MS. AGNES B. FERNANDEZ ISSUED BY THE BORROWER TRUE COPY OF THE ARRANGEMENT LETTER AND THE MEMORANDUM OF LOAN AGREEMENT DATED 16.06.2017 ISSUED BY THE 2ND RESPONDENT TRUE COPY OF THE LEGAL NOTICE DATED 03.06.2019 TRUE COPY OF THE REPLY NOTICES ISSUED BY THE 2ND RESPONDENT DATED 28.06.2019 TRUE COPY OF THE REPLY NOTICES ISSUED BY THE 4TH RESPONDENT DATED 11.07.2019 TRUE COPY OF THE APPLICATION O.A. 501/2019 DATED 01.10.2019 DEBT RECOVERY PROCEEDINGS FILED BY THE 2ND RESPONDENT BEFORE THE DEBT RECOVERY TRIBUNAL - 1, ERNAKULAM TRUE COPY OF THE WRITTEN STATEMENT DATED 13.01.2020 FILED BY THE PETITIONER IN EXT P10 DEBT RECOVERY PROCEEDINGS TRUE COPY OF THE SECTION 13(2) DEMAND NOTICE DATED 26.04.2023, ISSUED BY THE 1ST RESPONDENT TRUE COPY OF THE REPLY NOTICE DATED 24.06.2023 ISSUED BY THE PETITIONER TO THE 1ST RESPONDENT OP(DRT) No.194/2024 : 10 : Exhibit P13 Exhibit P14 Exhibit P15 Exhibit P16 Exhibit P17 Exhibit P18 Exhibit P19 Exhibit P20 Exhibit P21 TRUE COPY OF THE REPLY DATED 10.07.2023 ISSUED BY THE 1ST RESPONDENT . TRUE COPY OF THE SECOND SECTION 13(2) DEMAND NOTICE DATED 19.07.2023 ISSUED BY THE 1ST RESPONDENT DATED 19.07.2023 TRUE COPY OF THE NOTICE DATED 27.09.2023 ISSUED BY THE 1ST RESPONDENT IS PRODUCED TRUE COPY OF THE S.A NO. 750/2023 DATED 10.11.2023 PENDING BEFORE THE DEBT RECOVERY TRIBUNAL 1, ERNAKULAM TRUE COPY OF THE STAY PETITION IN S.A NO. 750/2023 DATED 10.11.2023 PENDING BEFORE THE DEBT RECOVERY TRIBUNAL 1, ERNAKULAM TRUE COPY OF THE POSSESSION NOTICE DATED 13.05.2024 ISSUED BY THE ADVOCATE COMMISSIONER APPOINT IN CMP NO.2603/2023 OF THE CJM COURT, KOZHIKODE FOR TAKING POSSESSION OF THE PETITION SCHEDULE PROPERTY ON 13.05.2024 TRUE COPY OF THE POSSESSION NOTICE DATED 31.05.2024 ISSUED BY THE ADVOCATE COMMISSIONER APPOINT IN CMP NO.2603/2023 OF THE CJM COURT, KOZHIKODE FOR TAKING POSSESSION OF THE PETITION SCHEDULE PROPERTY ON 31.05.2024 TRUE COPY OF THE BANK ACCOUNT STATEMENT DATED 10.02.2019 TRUE COPY OF THE BANK ACCOUNT STATEMENTS DATED 26.06.2021
I have heard the learned counsel for the petitioner and the learned Standing Counsel representing respondents 1 to 3.
10. A Housing Loan was sanctioned to the petitioner's deceased father, of an amount of ₹25 lakhs. An insurance premium loan of ₹92,850/- was also sanctioned. The borrower passed away on 31.12.2018.
11. The submission of respondents 1 to 3 is that the insurance application was rejected by the Insurer due to non- compliance of the procedure, terms and conditions as OP(DRT) No.194/2024 : 8 : directed by the Insurance Company. The Insurer had returned the premium which was about ₹18,000/-, and the amount credited to the SB account of the borrower during his life time. If that be so, the petitioner cannot raise any legal grievance against respondents 1 to 3. The prayer of the petitioner to declare that all measures initiated by the 1 st respondent under Section 13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 as illegal, is therefore not liable to be granted on the said ground urged by the petitioner. In the facts and circumstances of the case, the OP(DRT) is disposed of directing the Debts Recovery Tribunal-I, Ernakulam to dispose of SA No.750/2023 as expeditiously as possible and at any rate, within a period of three months. aks/11.07.2024 Sd/- N. NAGARESH, JUDGE OP(DRT) No.194/2024 : 9 : APPENDIX OF OP (DRT) 194/2024 PETITIONER'S EXHIBITS Exhibit P1 Exhibit P2 Exhibit P3 Exhibit P4 Exhibit P5 Exhibit P6 Exhibit P7 Exhibit P8 Exhibit P9 Exhibit P10 Exhibit P11 Exhibit P12 TRUE COPY OF THE BIRTH CERTIFICATE DATED 30.01.2007 ISSUED TO THE PETITIONER BY THE KOZHIKODE CORPORATION TRUE COPY OF THE ORDER OF THE DISTRICT & SESSIONS COURT, KOZHIKODE DATED 08.04.2022 IN G.O.P. NO.271/2021 TRUE COPY OF THE LEGAL HEIRSHIP CERTIFICATE DATED 14.09.2020 ISSUED IN THE NAME OF THE PETITIONER TRUE COPY OF THE POWER OF ATTORNEY DATED 18.02.2017 ISSUED IN FAVOUR OF MS. AGNES B. FERNANDEZ ISSUED BY THE BORROWER TRUE COPY OF THE ARRANGEMENT LETTER AND THE MEMORANDUM OF LOAN AGREEMENT DATED 16.06.2017 ISSUED BY THE 2ND RESPONDENT TRUE COPY OF THE LEGAL NOTICE DATED 03.06.2019 TRUE COPY OF THE REPLY NOTICES ISSUED BY THE 2ND RESPONDENT DATED 28.06.2019 TRUE COPY OF THE REPLY NOTICES ISSUED BY THE 4TH RESPONDENT DATED 11.07.2019 TRUE COPY OF THE APPLICATION O.A. 501/2019 DATED 01.10.2019 DEBT RECOVERY PROCEEDINGS FILED BY THE 2ND RESPONDENT BEFORE THE DEBT RECOVERY TRIBUNAL - 1, ERNAKULAM TRUE COPY OF THE WRITTEN STATEMENT DATED 13.01.2020 FILED BY THE PETITIONER IN EXT P10 DEBT RECOVERY PROCEEDINGS TRUE COPY OF THE SECTION 13(2) DEMAND NOTICE DATED 26.04.2023, ISSUED BY THE 1ST RESPONDENT TRUE COPY OF THE REPLY NOTICE DATED 24.06.2023 ISSUED BY THE PETITIONER TO THE 1ST RESPONDENT OP(DRT) No.194/2024 : 10 : Exhibit P13 Exhibit P14 Exhibit P15 Exhibit P16 Exhibit P17 Exhibit P18 Exhibit P19 Exhibit P20 Exhibit P21 TRUE COPY OF THE REPLY DATED 10.07.2023 ISSUED BY THE 1ST RESPONDENT . TRUE COPY OF THE SECOND SECTION 13(2) DEMAND NOTICE DATED 19.07.2023 ISSUED BY THE 1ST RESPONDENT DATED 19.07.2023 TRUE COPY OF THE NOTICE DATED 27.09.2023 ISSUED BY THE 1ST RESPONDENT IS PRODUCED TRUE COPY OF THE S.A NO. 750/2023 DATED 10.11.2023 PENDING BEFORE THE DEBT RECOVERY TRIBUNAL 1, ERNAKULAM TRUE COPY OF THE STAY PETITION IN S.A NO. 750/2023 DATED 10.11.2023 PENDING BEFORE THE DEBT RECOVERY TRIBUNAL 1, ERNAKULAM TRUE COPY OF THE POSSESSION NOTICE DATED 13.05.2024 ISSUED BY THE ADVOCATE COMMISSIONER APPOINT IN CMP NO.2603/2023 OF THE CJM COURT, KOZHIKODE FOR TAKING POSSESSION OF THE PETITION SCHEDULE PROPERTY ON 13.05.2024 TRUE COPY OF THE POSSESSION NOTICE DATED 31.05.2024 ISSUED BY THE ADVOCATE COMMISSIONER APPOINT IN CMP NO.2603/2023 OF THE CJM COURT, KOZHIKODE FOR TAKING POSSESSION OF THE PETITION SCHEDULE PROPERTY ON 31.05.2024 TRUE COPY OF THE BANK ACCOUNT STATEMENT DATED 10.02.2019 TRUE COPY OF THE BANK ACCOUNT STATEMENTS DATED 26.06.2021