Remani. K vs Manager
2022 Latest Caselaw 9275 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
    WEDNESDAY, THE 10TH DAY OF AUGUST 2022 / 19TH SRAVANA, 1944
                        WP(C) NO. 21166 OF 2021
PETITIONER/S:

          REMANI. K, AGED 55 YEARS
          W/O.SAJEEV, KAMBISSERIL, KADUVINAL P.O., VALLIKUNNAM,
          ALAPPUZHA DISTRICT
          BY ADV D.SAJEEV (KAMBISSARI)


RESPONDENT/S:

    1     MANAGER,
          STATE BANK OF INDIA, VALLIKUNNAM BRANCH, VALLIKUNNAM,
          ALAPPUZHA DISTRICT PIN 690 501
    2     THE AUTHORISED OFFICER AND CHIEF MANAGER
          STATE BANK OF INDIA, RASMEC, MAVELIKARA P.O.,
          ALAPPUZHA DISTRICT, PIN 690 501
          BY ADVS.
          T.SETHUMADHAVAN (SR.)
          DEEPA NARAYANAN
          PREETHI. P.V.
          M.V.BALAGOPAL


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
10.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 21166 OF 2021                   2



                                    JUDGMENT

Petitioner has approached this Court challenging

proceedings initiated by the respondent Bank under the

provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act,

for recovery of the amounts due from the petitioner. The

petitioner is a guarantor in respect of two loans availed by

her son from the respondent bank

2. Learned counsel appearing for the petitioner submits

that the petitioner's son availed two education loans from the

respondent bank. It is submitted that he could not repay that

loan because of the financial crisis in connection with Covid-

19 pandemic. It is stated that the Bank cannot recover the

amount under the first loan by proceeding against the

property of the petitioner as the said loan was not required to

be secured by providing any collateral security.

3. Learned Standing Counsel appearing for the

respondent bank submits that the petitioner's son availed two

loans and committed default in repayment. It is also

submitted that regularisation is not possible. It is further

submitted that though proceedings for recovery have been

initiated, as a matter of indulgence, the respondent bank is

willing to accept the repayment of the outstanding amount in

limited instalments. It is submitted that on sanctioning the

second loan, the proeprty of the petitioner taken as collateral

security for the first loan as well. He refers to Ext.R1(a)

memorandum of deposit of title deeds in this regard. It is

submitted that on taking the 2nd loan, both loans were to be

secured by mortgage. According to the learned Standing

counsel appearing for the respondent, the balance amount

which is liable to be repaid in respect of the housing loan is

Rs.12,15,095/- (Rupees twelve lakhs fifteen thousand and

ninety five only) and that the total liability in respect of the

education loan is Rs.13,71,244/- (Rupees thirteen lakhs

seventy one thousand two hundred and forty four only) as on

27.07.2022 and the petitioner can be permitted to clear the

same in twenty instalments.

4. I have heard the learned counsel for the petitioner

as well as the learned Standing counsel appearing for the

respondent bank.

5. The learned counsel appearing for the petitioner

states that she may be given a reasoable opportunity to clear

the liability in instalments. 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 view that the petitioner can be granted an opportunity to

repay the outstanding amount in twenty instalments. The

contention that the property of the petitioner was mortgaged

only for the second loan cannot be accepted in the light of

Ext.R1(a).

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.25,86,339/- (Rupees twenty five

lakhs eighty six thousand three hundred and thirty nine only)

along with accrued interest and bank charges from the

petitioner in the following manner:

(i) The outstanding amount of Rs.25,86,339/- (Rupees twenty five lakhs eighty six thousand three hundred and thirty nine only)shall be repaid in twenty equated monthly instalments along with any accrued interest/costs;

(ii) The first instalment shall be paid on or before 31.08.2022 and the subsequent instalments shall be paid on or before the 15th day of the succeeding months;

(iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law;

(iv) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

sd/-

GOPINATH P., JUDGE ajt

APPENDIX OF WP(C) 21166/2021

PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE DATED 3.6.2019 ISSUED BY THE 2ND RESPONDENT Exhibit P2 A TRUE COPY OF THE CERTIFICATE NO.VKB25/2021-

22 ISSUED BY THE AGRICULTURAL OFFICER, VALLIKUNNAM Exhibit P3 A TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED BY THE CHIEF JUDICIAL MAGSITRATE COURT, ALAPPUZHA IN M.C.NO.117/2020