S NAGABHUSHAN Vs. CAN FIN HOMES LTD

JUDGEMENT

(1.) Heard learned counsel for petitioners and respondent.

(2.) Substance of the petition is that twelve petitioners have filed the present writ petition under Articles 226 and 227 of the Constitution of India and the relief sought by them is for issue of writ of mandamus in the form of direction to the respondent not to take action and dispossess the petitioners 4 to 12 as provided in the notice produced at Annexure-A and direct the respondent not to proceed in execution with the order at Annexure-B and any other relief.

(3.) It is stated that petitioners 1 to 3 availed housing loan of Rs.73,00,000/- under Loan Account No.131205400216 and another one for a sum of Rs.18,00,000/- under loan account No.131201004759 by securing repayment by equitable mortgage by deposit of title deeds. Date of the loan not mentioned. Petitioner No.1 suffered job loss, his mother died, due to frustration and turmoil petitioner could not repay the loan installments in time. As there was default by petitioner in making payment, the respondent -Can Fin Homes Limited have classified the subject loan as a Non Performing Asset (NPA) thereby issued demand notice dated 12.01.2019 demanding repayment of Rs.92,40,340/- as on 13.01.2019.