Kerala High Court
Sasidharan K.P vs State Bank Of India on 6 May, 2025
WP(C) NO. 17461 OF 2025 1
2025:KER:33557
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE SYAM KUMAR V.M.
TUESDAY, THE 6TH DAY OF MAY 2025 / 16TH VAISAKHA, 1947
WP(C) NO. 17461 OF 2025
PETITIONER/S:
SASIDHARAN K.P.
AGED 69 YEARS
S/O.GOVINDAN ,AMBADY 351/1, KARUVANAPADY ROAD,
PALUVAI P.O, PUTHUSSERY PADAM GURUVAYOOR,
PAVARATTY, THRISSUR DISTRICT, PIN - 680507
BY ADVS.
K.J.MANU RAJ
K.VINAYA
RESPONDENT/S:
1 STATE BANK OF INDIA
REPRESENTED BY ITS BRANCH MANAGER, KIZHAKKENADA
GURUVAYOOR BRACH, GURUVAYOOR P.O, THRISSUR
DISTRICT, PIN - 680101
2 AUTHORIZED OFFICER & CHIEF MANAGER
SBI RASMEC, KUNNAMKULAM, TELEPHONE EXCHANGE
BUILDING, KANNIYAMBAL ROAD, KUNNAMKULAM, THRISSUR
DISTRICT, PIN - 680503
BY ADVS.
MANOJ G.G
S.SARATH PRASAD(K/000835/2008)
MADHAVIKUTTY(K/000238/2025)
OTHER PRESENT:
WP(C) NO. 17461 OF 2025 2
2025:KER:33557
SC- JITHESH MENON
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 06.05.2025, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C) NO. 17461 OF 2025 3
2025:KER:33557
JUDGMENT
Petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent Bank for recovery of the amounts due from the petitioner.
2. 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.
3. It is submitted on behalf of the respondent Bank that the petitioner committed default in repayment of a loan and the overdue amount as on date is Rs.3,98,807/-. It is 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 to regularise the loan account.
4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the overdue amount in 10 instalments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.
5. Accordingly, there will be a direction to the WP(C) NO. 17461 OF 2025 4 2025:KER:33557 respondent Bank to accept repayment of the entire overdue amount of Rs.3,98,807/-, along with any accrued interest, costs and bank charges from the petitioner and regularise the loan account of the petitioner in the following manner:
i. The overdue amount of Rs.3,98,807/- along with any accrued interest, costs and bank charges shall be repaid in 10 equated monthly instalments;
ii. The first instalment shall be paid on or before 02.06.2025 and the subsequent instalments shall be paid on or before the 2nd working day of every succeeding months; iii. Petitioner shall continue to pay the regular EMI's/instalments along with the instalments directed above;
iv. In the event of default of any one instalment, the respondent Bank shall be entitled to proceed in accordance with the 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/ SYAM KUMAR V.M. JUDGE jm/ WP(C) NO. 17461 OF 2025 5 2025:KER:33557 APPENDIX OF WP(C) 17461/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE LAND TAX RECEIPT DATED 28.10.2022 IN FAVOUR OF THE PETITIONER.
Exhibit P2 A TRUE COPY OF THE RELEVANT PAGES OF STATEMENT OF ACCOUNT FOR THE PERIOD 1.1.2013 TO 22.4.2025 ISSUED TO THE PETITIONER.
Exhibit P3 A TRUE COPY OF THE NOTICE DATED 5.9.2024 ISSUED TO THE PETITIONER BY STATE BANK OF INDIA.
Exhibit P4 A TRUE COPY OF THE POSSESSION NOTICE DATED 7.1.2025 ISSUED TO THE PETITIONER BY STATE BANK OF INDIA.
Exhibit P5 A TRUE COPY OF THE NOTICE DATED 16.4.2025 ISSUED BY ADVOCATE COMMISSIONER.
Exhibit P6 A TRUE COPY OF THE RECEIPT ISSUED BY THE 1ST RESPONDENT BANK SHOWING REMITTANCE OF RS 55,000/- AND 45,000/-.
Exhibit P7 A TRUE COPY OF THE REPRESENTATION DATED 29.4.2025 SUBMITTED TO THE 1ST RESPONDENT.