Mohammed Shafeek vs State Bank Of India
2021 Latest Caselaw 19661 Ker

                    IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                     PRESENT

                 THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS

         FRIDAY, THE 17TH DAY OF SEPTEMBER 2021 / 26TH BHADRA, 1943

                             WP(C) NO. 6902 OF 2021

PETITIONER/S:

     1         MOHAMMED SHAFEEK,
               AGED 54 YEARS
               S/O. MUHAMMAD SAHIB,
               A-5 ATTARA APARTMENTS,
               MOSQUE LANE, KUMARAPURAM,
               THIRUVANANTHAPURAM - 695011.
     2         MUNEERA SHAFEEK
               AGED 48 YEARS
               W/O. MUHAMMED SHAFEEK,
               A-5 ATTARA APARTMENTS,
               MOSQUE LANE, KUMARAPURAM,
               THIRUVANANTHAPURAM - 695011.
               BY ADVS.P.JERIL BABU
               SHRI.HALVI K.S.



RESPONDENTS:



     1         STATE BANK OF INDIA
               STRESSED ASSETS RECOVERY BRANCH,
               LMS COMPOUND, OPP. MUSEUM WEST GATE,
               THIRUVANANTHAPURAM - 695033,
               REPRESENTED BY ITS AUTHORISED OFFICER.
     2         STATE BANK OF INDIA
               KOCHUVELLI BRANCH,
               THIRUVANANTHAPURAM - 695021,
               REPRESENTED BY ITS BRANCH MANAGER.
               BY ADV SRI.R.S.KALKURA



THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 17.09.2021, THE

COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 6902 OF 2021
                                           2



                           BECHU KURIAN THOMAS,               J

                   ===========================
                         W.P(C) No.6902 of 2021
                       ---------------------------------
              Dated this the 17 th day of September, 2021

                                       JUDGMENT

Petitioners are borrowers from the respondent bank.

They committed default in repayment of the loan

amount. Consequently, proceedings have been

initiated by the bank for recovery of the amounts

due from the petitioners after recalling the loan.

2. Though petitioners have raised various

challenges in the writ petition, during the course of

the hearing, petitioners have confined their relief to

an opportunity for repaying the outstanding amount

in instalments and to obtain regularisation of the

loan account.

3. It was submitted on behalf of the respondent

bank that petitioners had committed default in

repayment of the loan amount and hence their WP(C) NO. 6902 OF 2021

account was classified as non-performing. It was

further submitted that even though proceedings for

recovery have been initiated, as a matter of

indulgence, respondent bank is willing to accept

repayment of the outstanding amount of

Rs.29,26,047/- in limited instalments, provided the

petitioners deposit reasonably substantial sum

immediately. Apart from the above, it was also

submitted that if the petitioners are willing to repay

the amount as directed by this Court, the

respondent bank is willing to regularise the loan

account.

4. I have heard Adv.Jeril Babu P., learned counsel

for the petitioners as well as Adv.R.S.Kalkura the

learned Standing Counsel for the respondents.

5. Having regard to the circumstances of the case

and the situation now prevailing, apart from the

submissions made as recorded above, I am of the WP(C) NO. 6902 OF 2021

view that the petitioners can be granted an

opportunity to repay the entire outstanding amount

in instalments and thereafter if the amount so

directed is repaid within the time as directed above,

to have the loan account regularised.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount along with other charges from

the petitioners and regularise the loan account of the

petitioners on the following conditions:

(i). The entire outstanding amount is

Rs.29,26,047/-, shall be paid in '13'

instalments of which petitioners shall

pay an amount of Rs.5,00,000/- (Rupees

Five lakhs only) on or before 30.09.2021

as first instalment, and the balance

amount shall be paid in 'twelve' equated

monthly instalments along with other WP(C) NO. 6902 OF 2021

charges and interest.

(ii). All further proceedings for

dispossession of the petitioners shall

be kept in abeyance, to enable the

petitioners to repay the amount as

directed above.

(iv). In the event of default of any one

instalment, the respondent bank shall

be entitled to proceed in

accordance with law.

The above writ petition is disposed of as above.

Sd/-

BECHU KURIAN THOMAS, JUDGE AMV/18/09//2021 WP(C) NO. 6902 OF 2021

APPENDIX OF WP(C) 6902/2021

PETITIONER EXHIBITS EXHIBIT P1 TRUE COPY OF THE NOTICE U/S. 13(2), SARFAESI ACT,2002 DATED 11.10.2019 ISSUED BY THE 1ST RESPONDENT TO THE 1ST PETITIONER. EXHIBIT P2 TRUE COPY OF THE LETTER 06.12.2019 SENT BY THE 1ST RESPONDENT TO THE 2ND PETITIONER. EXHIBIT P3 TRUE COPY OF THE LETTER DATED 22.12.2020 SENT BY THE 1ST RESPONDENT TO THE PETITIONERS.

RESPONDENTS EXHIBITS

ANNEXURE R1A COPY OF THE LETTER DATED 15.12.2020 IS ISSUED BY THE 1ST PETITIONER TO THE 1ST RESPONDENT

TRUE COPY P.A.TO JUDGE