IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
FRIDAY, THE 3RD DAY OF JUNE 2022 / 13TH JYAISHTA, 1944
WP(C) NO. 17593 OF 2022
PETITIONER:
RATHEESH R.
AGED 41 YEARS
S/O RAJENDRAN, RAJ BHAVAN,PARAVATTOM, MANIYAR P.O.
PUNALUR, KOLLAM DISTRICT, PIN NO. 689 662
BY ADVS.
JOBI.A.THAMPI
BINNY.A.THOMAS
S.R.REMYA
SHOUKATH HUSAIN
RESPONDENTS:
1 AUTHORIZED OFFICER
STATE BANK OF INDIA, RASMEC KOTTARAKKARA, 1385/432A,
ARPAN TOWERS,PRATHIBHA JUNCTION, KADAPPAKKADA, KOLLAM
PIN-691008
2 THE BRANCH MANAGER,
STATE BANK OF INDIA,TOWN BRANCH, PUNALUR, KOLLAM
DISTRICT. PIN- 691306
3 THE BRANCH MANAGER,
STATE BANK OF INDIA, KARAVALOOR BRANCH, KOLLAM
DISTRICT. PIN- 691306
OTHER PRESENT:
SRI, JAWAHAR JOSE (SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P (C) No.17593/2022 -2-
JUDGMENT
The petitioner has availed 3 separate loans from the respondent bank. One among the loans is a housing loan the other is stated to be a loan for payment of premium on insurance taken out by the petitioner (Sureksha loan) and the third is a personal loan against the pension accruing to the petitioner.
2. The petitioner has approached this court seeking a limited relief of repayment of the overdue amount in installments. The over due amount in respect of the housing loan is stated to be Rs.5,56,595/- while the over due in respect of insurance loan is Rs.21,909/- and the over due in respect of personal loan is Rs.12,353/-.
3. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account.
4. It was submitted on behalf of the respondent bank that the petitioner committed default in repayment and the over due amount in housing loan is Rs.5,56,595/-, over due in respect of insurance loan is Rs.21,909/- and the over due in respect of personal loan is Rs.12,353/-. It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the overdue amount in limited instalments and regularise the loan accounts.
5. I have heard the learned counsel for the petitioner as well as the learned Standing Counsel for the respondent Bank. W.P (C) No.17593/2022 -3-
6. Having regard to the facts and circumstances of the case and the situation now prevailing, apart from the submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs, I am of the view that the petitioner can be granted an opportunity to clear off the overdue amount in ten (10) equal instalments first of which shall be paid on or before 30-06-2022 and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.
7. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.5,90,857/- (total in all the three loans) along with bank charges from the petitioner and regularise the loan account of the petitioner on the following conditions:
(i) The overdue amount of Rs.5,90,857/- together with any accrued interest and charges shall be repaid in ten equated monthly instalments.
(ii) The first instalment shall be paid on or before 30-06-2022 and the subsequent instalments shall be paid on the last working day of every succeeding month.
(iii) Petitioner shall continue to pay the regular EMI's along with the instalments directed above.
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(iv) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law.
(v) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.
The writ petition is disposed of as above.
Sd/-
GOPINATH P.
JUDGE AMG W.P (C) No.17593/2022 -5- APPENDIX OF WP(C) 17593/2022 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE IDENTITY CARD NO.6396913 ISSUED BY SAINIK BOARD, MINISTRY OF DEFENCE Exhibit P2 TRUE COPY OF THE TERMINATION LETTER DTD. 30-04-2020 ISSUED BY EASYDRIVE CAR RENTAL CO', JEDDAH, SAUDI ARABIA TO THE PETITIONER.
Exhibit P3 TRUE COPY OF THE NOTICE DTD.24.09.2019 ISSUED BY THE 1ST RESPONDENT UNDER SECTION 13(2) OF THE SECURITIZATION AND RECONSTRUCTION OF THE FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002.
Exhibit P4 TRUE COPY OF THE REPRESENTATION DTD.20-05-2022 SUBMITTED BY THE PETITIONER BEFORE THE 1ST RESPONDENT.
Exhibit P4(A) TRUE COPY OF THE POSTAL RECEIPT DTD.25-05-2022 IN RESPECT OF EXT.P4 REPRESENTATION.