Kerala High Court
Suji Susan vs State Bank Of India on 25 March, 2021
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE A.M.BADAR
THURSDAY, THE 25TH DAY OF MARCH 2021 / 4TH CHAITHRA, 1943
WP(C).No.7836 OF 2021(D)
PETITIONER/S:
SUJI SUSAN
AGED 36 YEARS
W/O.BINU TOM VARGHESE, PULINTHITTA VEEDU,
MUNDUKOTTAKKAL P.O., VETTIPRAM MURI,
PATHANAMTHITTA VILLAGE
NOW TEMPORARY RESIDING AT SRH-40, KURISADI JUNCTION,
NALANCHIRA, THIRUVANANTHAPURAM, PIN - 695 015.
BY ADV. SRI.ALEXANDER GEORGE
RESPONDENT/S:
1 STATE BANK OF INDIA
LMS COMPOUND, VIKAS BHAVAN, THIRUVANANTHAPURAM,
REPRESENTED BY ITS BRANCH MANAGER - 695 033.
2 AUTHORIZED OFFICER, CHIEF MANAGER,
STATE BANK OF INDIA, RECOVERY BRANCH,
THIRUVANANTHAPURAM DISTRICT - 695 033.
3 ANITH AJI, ADVOCATE COMMISSIONER, GOVARDHAN TOWER,
ATHANI LANE, VANCHIYOOR P.O.,
THIRUVANANTHAPURAM - 695 035.
SRI.M JITHESH MENON, STANDING COUNSEL
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
25.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No.7836 OF 2021 2
JUDGMENT
Dated this the 25th day of March 2021
Heard both sides.
2. Learned counsel for the petitioner submitted that the
petitioner had taken loan of Rs.17,00,000/- (Seventeen lakhs only) for a
period of 180 months and the term of that loan is up to 2025. The
petitioner had paid an amount of about Rs.24 lakhs as of now and as per
the statement at Ext.P2 of the respondent bank only an amount of
Rs.744169.95 is due and payable. The petitioner wants to clear that
amount in instalments.
3. As against this, learned Standing Counsel for the respondent
bank submits that the loan became Non Performing Asset on 01.07.2018
and interest is not mentioned in the statement at Ext.P2 as per the norms
of the Reserve Bank of India. Learned Standing Counsel appearing for
the bank further submits that closure balance is about Rs.12,60,952/-
(Rupees twelve lakhs sixty thousand nine hundred and fifty two only) as
of 24.03.2021. As per the contention of the learned Standing counsel for
the respondent bank, the petitioner can be directed to clear the entire
liability in three instalments.
4. I have considered the submissions so advanced and perused
the materials placed before me. The learned counsel for the petitioner
submitted that petitioner has paid an amount of about Rs.24 lakhs as of
now towards his liability for Rs.17 lakhs. The term of the loan is upto
2025. The petitioner is seeking instalments for closing the liability
incurred by him and the respondents are ready to grant him three
instalments for clearing the liability.
5. In this view of the matter and keeping in mind the fact that
term of the loan is upto 2025, the writ petition is disposed of with the
following directions:-
The petitioner is directed to clear the entire outstanding amount in
his loan account with interest and other incidental charges in ten equated
successive monthly instalments commencing from 30.03.2021. If the
petitioner complies with these directions, respondents shall keep the
coercive action, initiated against the petitioner under the SARFAESI Act, in
abeyance. In case of a single default, the respondents are at liberty to
continue the action under the SARFAESI Act initiated against the
petitioner. No further extension of time for compliance of this direction
shall be granted to the petitioner.
SD/-
A.M.BADAR
ajt JUDGE
APPENDIX
PETITIONER'S/S EXHIBITS:
EXHIBIT P1 THE TRUE COPY OF THE POSSESSION NOTICE
DATED 8/3/2021.
EXHIBIT P2 THE TRUE COPY OF THE ACCOUNT STATEMENT
ISSUED BY THE FIRST RESPONDENT DATED
23/3/2021. ACCOUNT NO.67133627727
