Ratheesh K vs State Bank Of India
2021 Latest Caselaw 18512 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                            PRESENT
        THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
  WEDNESDAY, THE 8TH DAY OF SEPTEMBER 2021 / 17TH BHADRA, 1943
                    WP(C) NO. 17702 OF 2021
PETITIONER :

          RATHEESH K.,
          AGED 40 YEARS,
          S/O.T.V.KRISHNAN NAIR,
          MEKKONATHU VEEDU, KOLLAMKAVU,
          PAZHAKUTTY P.O., NEDUMANGADU,
          THIRUVANANTHAPURAM - 695 541.

          BY ADV S.MOHAMMED AL RAFI



RESPONDENTS :

          STATE BANK OF INDIA,
          REPRESENTED BY AUTHORIZED OFFICER,
          STRESSED ASSETS RECOVERY BRANCH,
          LMS COMPOUND, OPP.MUSEUM WEST GATE,
          VIKAS BHAVAN P.O.,
          THIRUVANANTHAPURAM - 695 033.

          BY ADV TOM K.THOMAS, STANDING COUNSEL




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
08.09.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 17702 OF 2021
                                     2




                   BECHU KURIAN THOMAS, J.
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                   W.P.(C).No.17702 of 2021
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            Dated this the 8th day of September, 2021



                              JUDGMENT

Petitioner confines his relief to the grant of a facility for

repayment of the entire outstanding amount due under the cash

credit facility availed by the petitioner through instalments.

2. It is pleaded that petitioner had availed the cash credit

facility to the extent of Rs.50,00,000/- and that he was catering to

the repayment without any default. However due to precarious

financial condition he committed default resulting in the Bank

initiating proceedings to recover the amount. It is also pleaded that

petitioner can clear of his liability to the Bank, if a breathing time is

obtained. Adv.S.Mohammed Al Rafi, the learned counsel for the

petitioner also submitted that the petitioner would be able to clear off

the entire loan within a short time, and that if a reasonable

instalment facility is granted, it would enure to the benefit of the

petitioner as well as to the Bank.

3. The learned Standing Counsel for the respondent Bank, WP(C) NO. 17702 OF 2021

on the other hand submitted that as on 18.08.2021, the amount

outstanding from the petitioner is Rs.1,28,98,520/- (Rupees One

Crore Twenty Eight Lakhs Ninety Eight Thousand Five Hundred and

Twenty only). It is also pointed out that the property of the

petitioner has been brought for sale, as is evident from Ext.P2 and

the date scheduled for the sale is 28.09.2021. It was further

submitted that if the petitioner is willing to show his bonafides before

the date of sale an opportunity can be granted to the petitioner to

clear the entire amount in instalments.

4. Having regard to the circumstances arising in the case

and also the fact that the petitioner is attempting to clear off the

entire liabilities within a short period, I deem it fit to give a breathing

time to the petitioner to clear off the liabilities. Accordingly, I direct

the respondent to accept an instament payment from the petitioner

to clear off the entire liabilities. Therefore, this writ petition is

disposed of directing the petitioner to repay the entire amount due to

the respondent in ten equal monthly instalments, the first of which to

be paid on or before 27.09.2021. If petitioner makes the payment as

directed above, the sale scheduled on 28.09.2021 shall be deferred

till the payment by instalments is completed. In the event of default

of any one instalment, the respondent shall be free to proceed in WP(C) NO. 17702 OF 2021

accordance with law from the stage at which it is intercepted by this

Court.

The writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE RKM WP(C) NO. 17702 OF 2021

APPENDIX OF WP(C) 17702/2021

PETITIONER'S EXHIBITS :

Exhibit P1 TRUE COPY OF THE LETTER DATED 23.10.2020 ISSUED BY THE RESPONDENT.

Exhibit P2 TRUE COPY OF THE SALE NOTICE DATED 19.08.2021 ISSUED BY THE RESPONDENT.