Kerala High Court
Jayachandran vs State Bank Of India on 14 January, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE A.M.BADAR
THURSDAY, THE 14TH DAY OF JANUARY 2021 / 24TH POUSHA, 1942
WP(C).No.1073 OF 2021(H)
PETITIONER:
JAYACHANDRAN
AGED 57 YEARS
S/O.CHELLAN, CHILAVACODE MEKKUMKARA VEEDU,
CHENNIVILA, MARANALLOOR, KOOVALASSERY P.O.,
THIRUVANANTHAPURAM DISTRICT.
BY ADVS.
SRI.SHAJIN S.HAMEED
SHRI.MELWIN BYJU
RESPONDENT:
STATE BANK OF INDIA
REPRESENTED BY AUTHORIZED OFFICER, CHIEF MANAGER,
RACPC, CHANDRASEKHARAN NAIR STADIUM COMPLEX, PALAYAM,
THIRUVANANTHAPURAM DISTRICT, PIN CODE-695 033.
OTHER PRESENT:
SRI.JITHESH MENON, SC.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
14.01.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C) No.1073/2021 2
JUDGMENT
Dated this the 14th day of January 2021
Heard both sides. By this writ petition, the petitioner is
praying for directing respondent-Bank to regularise the loan
account on payment of the overdue amount in 10 equal monthly
instalments along with regular EMI.
2. According to the petitioner, he availed a housing loan from
the respondent-Bank when he was serving with a construction
company in Gulf countries. However, subsequently, he was thrown
out of employment and he could not repay the amount of loan
advanced by the respondent-Bank. The petitioner contended that
he is willing to repay the entire overdue amount in ten equal
monthly instalments apart from paying regular EMIs .
3. Learned Standing Counsel appearing for the respondent-
Bank submitted that if the petitioner is willing to clear the entire
overdue amount along with payment of regular EMIs, he can be
granted 10 equated monthly instalments in order to enable the
Bank to keep the SARFAESI proceedings in abeyance.
4. Considering the fact that because of financial constraints,
the petitioner could not repay the overdue amount and that he was
thrown out of employment because of pandemic Covid-19 and also
that he is ready and willing to clear the entire overdue amount of
loan in 10 equated monthly instalments apart from payment of
regular EMIs, this writ petition deserves to be disposed of with the
following directions:
The petitioner to clear the entire overdue amount of loan
account in ten equated monthly instalments commencing from
10.02.2021 apart from payment of regular EMIs. If the petitioner
continues to pay monthly instalments as directed apart from
payment of regular EMIs, action under the SARFAESI Act shall be
kept in abeyance by the respondent-Bank. It is clarified that as
extraordinary relief is granted to the petitioner in the peculiar
circumstances, request for extension of time for paying instalments
of overdue amount as well as EMIs shall not be entertained in
future. Needless to mention that in case of default in paying
equated monthly instalments as directed, the respondent-Bank
shall continue with the SARFAESI proceedings.
This writ petition is disposed of as above.
Sd/-
A.M.BADAR
JUDGE
smp
APPENDIX
PETITIONER'S EXHIBITS:
EXHIBIT P1 PHOTOCOPY OF THE ORDER DATED 10.03.2020
IN MC NO.359/2020 OF THE CHIEF JUDICIAL
MAGISTRATE COURT, THIRUVANANTHAPURAM.
EXHIBIT P2 PHOTOCOPY OF THE NOTICE DATED 29.12.2020
ISSUED BY THE ADVOCATE COMMISSIONER AND
ENGLISH TRANSLATION.
RESPONDENT'S EXHIBITS: NIL.
True Copy
P.S to Judge
smp
