The Mes International School vs State Bank Of India
2021 Latest Caselaw 484 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM

                              PRESENT

          THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN

    THURSDAY, THE 07TH DAY OF JANUARY 2021 / 17TH POUSHA, 1942

                      WP(C).No.124 OF 2021(M)


PETITIONER:

              THE MES INTERNATIONAL SCHOOL
              PATTAMBI, PALAKKAD-679 303,
              REPRESENTED BY ITS SECRETARY,
              MR. ABDUL GAFOOR A, AGED 44,
              S/O. A. MOHAMMEDKUTTY.

              BY ADV. SRI.THOMAS P.KURUVILLA

RESPONDENT:

              STATE BANK OF INDIA
              MELE PATTAMBI BRANCH, PALAKKAD-679 303,
              REPRESENTED BY ITS MANAGER.

              R1 BY SHRI.TOM K.THOMAS - GP



     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.01.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C).No.124 OF 2021(M)

                                     2

                              JUDGMENT

Dated this the 7th day of January 2021

Through this writ petition, the petitioner

calls into question certain proceedings

initiated and being pursued by the respondent

Bank under the provisions of the Securitisation

and Reconstruction of Financial Assets and

Enforcement of Securities Interest Act ('the

SARFAESI Act' for brevity).

2. I have heard the learned counsel for

the petitioner and the learned counsel for the

respondent Bank.

3. As I proceed to consider the reliefs

prayed for by the petitioner herein, I am

conscious that I am jurisdictionally proscribed

from entering into any enquiry or consideration

of the legality or otherwise of the orders

impugned in this writ petition on account of the

imperative statutory provisions and the binding

judicial pronouncements, especially that of the

Hon'ble Supreme Court in Union Bank of India v. WP(C).No.124 OF 2021(M)

Satyawati Tondon [2010 (8) SCC 110] and in

Authorised Officer, State Bank of Travancore and

Another v. Mathew K.C. [2018 (1) KLT 784]. I,

therefore, cannot and do not propose to consider

any of the legal contentions raised by the

petitioner on its merits.

4. However, obviously being aware of this,

the learned counsel appearing for the petitioner

has prayed that notwithstanding the limitations

of jurisdiction as aforementioned, the

petitioner may be granted some leniency or

latitude in order to enable him to pay off the

overdue amounts in installments.

5. I, therefore, enquired with the learned

counsel for the Bank as to whether the request

on the part of the petitioner can be allowed,

especially on account of the fact that the Banks

are only interested in recovering and not in

maintaining and keep pending litigations and

legal proceedings against such recovery. The

learned counsel has fairly submitted that the WP(C).No.124 OF 2021(M)

Bank is concerned about recovery at the earliest

and that if the petitioner pays off the dues

quickly, it would be to their interest also.

6. In view of the fact that the

proceedings initiated by the Bank would consume

time to culminate in total recovery and taking

into account the financial constraints and

burden that have been alleged and pleaded by the

petitioner, I am inclined to dispose of this

writ petition allowing him an opportunity to pay

off the overdue amounts demanded by the Bank.

7. The learned Standing Counsel for the

Bank submitted that, the total overdues in the

loan account, as on 07.01.2021, is Rs.1 crore

70 lakhs and that if the petitioner is willing

to pay Rs.50 lakhs by the end of this month,

they can allowed to pay the balance, to have the

loan regularized, in eight equal monthly

installments commencing from February 2021.

8. The learned counsel for the petitioner

submitted that his client is agreeable to the WP(C).No.124 OF 2021(M)

above offer made by the Bank and prayed that the

writ petition may be ordered granting permission

to the petitioner to pay off the amount in the

manner as afore.

9. In such circumstances, I direct the

petitioner to pay an amount of Rs 50 lakhs on or

before 27.01.2021; and if they do so, they will

be permitted to pay off the balance overdues

along with all applicable charges and interest,

in eight equal monthly installments commencing

from 20.02.2021. The petitioner shall also, in

addition to this, pay the regular EMIs without

fail. If such payment is made by the petitioner,

its loan account would stand regularised and the

petitioner would then be at liberty to service

the account as per the terms of the loan

sanctioned. It goes without saying that if there

is any default in making the payment as directed

above, the benefit granted under this judgment

would stand vacated and the Bank will be at

liberty to recover the entire liability from the WP(C).No.124 OF 2021(M)

petitioner by continuing with the proceedings

from the stage it is on this date.

I make it clear that the directions in

this judgment are peremptory in nature and that

the petitioner will have to comply with the same

meticulously.

This writ petition is ordered accordingly.

Sd/-

                                    DEVAN RAMACHANDRAN
Sn                                          JUDGE
 WP(C).No.124 OF 2021(M)



                           APPENDIX
PETITIONER'S/S EXHIBITS:

EXHIBIT P1           TRUE COPY OF LETTER DATED 25.2.2016 ISSUED
                     BY THE RESPONDENT BANK.

EXHIBIT P2           TRUE COPY OF EMAIL DATED 1.4.2020 ISSUED BY
                     THE PETITIONER.

EXHIBIT P3           TRUE COPY OF NOTICE DATED 13.5.2020 ISSUED

UNDER SECTION 13(2) OF THE SARFAESI ACT, 2002.

EXHIBIT P4 TRUE COPY OF LETTER DATED 26.5.2020, ISSUED BY THE PETITIONER WROTE TO THE RESPONDENT.

EXHIBIT P5 TRUE COPY OF PETITIONER'S EMAIL DATED 10.06.2020.

EXHIBIT P6 TRUE COPY OF LETTER DATED 11.6.2020 ISSUED BY THE PETITIONER ADDRESSED TO THE RESPONDENT.

EXHIBIT P7 TRUE COPY OF RESPONDENT'S LETTER DATED 23.6.2020 ISSUED BY THE RESPONDENT BANK TO PETITIONER.

EXHIBIT P8 TRUE COPY OF PETITIONER'S EMAIL DATED 19.8.2020.

EXHIBIT P9 TRUE COPY OF PETITIONER'S EMAIL DATED 24.8.2020.

EXHIBIT P10 TRUE COPY OF RESPONDENT'S EMAIL DATED 21.8.2020.

EXHIBIT P11 TRUE COPY OF PETITIONER'S EMAIL DATED 17.09.2020.

EXHIBIT P12 TRUE COPY OF RESPONDENT'S EMAIL DATED 10.10.2020.

EXHIBIT P13 TRUE COPY OF STATEMENT OF ACCOUNT OF THE PETITIONER.

RESPONDENT'S/S EXHIBITS:   NIL

Sn                                   //TRUE COPY//   PA TO JUDGE