B.B.Santhosh Kumar vs State Bank Of India
2022 Latest Caselaw 4446 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                THE HONOURABLE MR.JUSTICE VIJU ABRAHAM
     TUESDAY, THE 12TH DAY OF APRIL 2022 / 22ND CHAITHRA, 1944
                        WP(C) NO. 1669 OF 2022
PETITIONER:

          B.B.SANTHOSH KUMAR
          AGED 57 YEARS
          S/O. LATE BHASKARAN P, (SOLE PROPRIETOR, AMBALAKKARA
          DISTRIBUTORS PUNALUR), R/O. BHASKARA MANDIRAM,
          EZHUKONE P.O, KOLLAM DISTRICT - 691505.

          BY ADVS.

          HARIKRISHNAN M.S.
          SHAKTHI PRAKASH


RESPONDENTS:

    1     STATE BANK OF INDIA
          REPRESENTED BY ITS CHIEF MANAGER,
          RASMEC, KOTTARAKKARA, KOLLAM - 691008.

    2     ASSISTANT GENERAL MANAGER
          STATE BANK OF INDIA, STRESSED ASSETS RECOVERY BRANCH,
          LMS COMPOUND, THIRUVANANTHAPURAM - 695033.

    3     CHIEF MANAGER
          (AUTHORISED OFFICER), STATE BANK OF INDIA,
          STRESSED ASSETS RECOVERY BRANCH, LMS COMPOUND,
          THIRUVANANTHAPURAM - 695033.

    4     STATE BANK OF INDIA
          PUNALUR BRANCH (ERSTWHILE STATE BANK OF TRAVANCORE),
          REPRESENTED BY ITS BRANCH MANAGER, PUNALUR,
          KOLLAM - 691305.

          BY ADV.


          SRI.JITHESH MENON-SC


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12.04.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 1669 OF 2022
                                2

                            JUDGMENT

The above writ petition is filed seeking a direction to

respondent to grant the petitioner time to pay the amount due

under the loan account No.67046598805 in 20 installments.

Pursuant to an interim order passed by this Court on 27.01.2022

the petitioner has already deposited an amount of Rs.5 lakhs.

2. The learned standing counsel upon instructions

submitted that as on date total amount outstanding is

Rs.41,24,159/- and that the sale of the property is now scheduled

to 24.05.2022. The standing counsel also submitted that they will

not proceed with the sale scheduled on 24.05.2022 if the

petitioner remits an amount of Rs.4 lakhs on or before

23.05.2022 and the balance amount in 15 equal monthly

installments .

3. In view of the same, the above writ petition is disposed

of permitting the petitioners to deposit an amount of Rs.4 lakhs on

or before 23.05.2022 and the balance amount outstanding in 15 WP(C) NO. 1669 OF 2022

equal monthly installments starting from 20.06.2022. It is made

clear that in case of default of any one installment, the bank will

be free to proceed with the recovery.

The writ petition is disposed of with the above direction.

Sd/-

VIJU ABRAHAM JUDGE SCS WP(C) NO. 1669 OF 2022

APPENDIX OF WP(C) 1669/2022

PETITIONER EXHIBITS Exhibit P1 COPY OF THE DISCHARGE CARD OF THE PETITIONER ISSUED BY MEDICAL COLLEGE HOSPITAL THIRUVANANTHAPURAM.

Exhibit P2 TRUE COPY OF THE NOTICE U/S.13(2) OF THE SARFAESI ACT, DATED 04.10.2021, RECEIVED FROM THE 1ST RESPONDENT BANK.

Exhibit P3 TRUE COPY OF REPRESENTATION DATED 15.11.2021 SUBMITTED BY THE PETITIONER. Exhibit P4 TRUE COPY OF THE LETTER DATED 08.12.2021 RECEIVED FROM THE 2ND RESPONDENT. Exhibit P5 TRUE COPY OF REPRESENTATION DATED 21.12.2021 SUBMITTED BY THE PETITIONER. Exhibit P6 TRUE COPY OF THE POSSESSION NOTICE DATED 04.01.2020.

Exhibit P7 TRUE COPY OF THE LETTER DATED 15.2.2022 SUBMITTED BY THE PETITIONER BEARING ACKNOWLEDGMENT BY THE RESPONDENT BANK OF RECEIPT OF RS 500000/-

Exhibit P8 TRUE COPY OF THE PUBLIC NOTICE DATED 7.4.2022 ISSUED BY THE 1ST RESPONDENT BANK UNDER RULE8(6) PF THE SECURITY INTEREST (ENFORCEMENT) RULES, 2002 Exhibit P9 TRUE COPY OF THE SALE NOTICE FOR SALE OF IMMOVABLE PROPERTIES ISSUED BY THE 3RD RESPONDENT DATED 7.4.2022