Kerala High Court
Sareena.B.P vs State Bank Of India on 10 August, 2022
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. 9561 OF 2022
PETITIONER:
1 SAREENA.B.P.,
AGED 42 YEARS
W/O.ABDUL AZEEZ CEERAKATH, FATHIMA MANZIL, C.H.NAGAR,
SREEKANDAPURAM P.O., SREEKANDAPURAM AMSOM, TALIPARAMBA
TALUK, KANNUR DISTRICT-670 631.
BY ADVS.
V.T.MADHAVANUNNI
V.A.SATHEESH
ANAND V.S
RESPONDENTS:
1 STATE BANK OF INDIA,
SREEKANDAPURAM BRANCH, SREEKANDAPURAM P.O., TALIPARAMBA
TALUK, KANNUR DISTRICT-670 631, REPRESENTED BY ITS BRANCH
MANAGER.
2 THE AUTHORIZED OFFICER/CHIEF MANAGER,
RACC SREEKANDAPURAM, STATE BANK OF INDIA, SREEKANDAPURAM
P.O., TALIPARAMBA TALUK, KANNUR DISTRICT-670 631.
BY ADVS.
G.G.MANOJ
S.SARATH PRASAD
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
10.08.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WPC NO.9561 OF 2022
2
JUDGMENT
Dated this the 10th day of August, 2022
The petitioner has approached this Court
challenging proceedings initiated under the
Securitisation and Reconstruction of Financial Assets
and Enforcement of Security Interest Act
(hereinafter referred to as the SARFAESI Act) for
recovery of the amounts due upon three separate
loans availed by the petitioner from the respondent
bank; one is stated to be a housing loan and two
other loans are stated to be ordinary loans secured
by way of mortgage. The learned counsel appearing
for the petitioner states that the petitioner may be
given an opportunity to clear the entire liability in
instalments as the regularization of the account is
not possible.
2. The learned counsel for the respondent
bank has no objection to reasonable opportunity
WPC NO.9561 OF 2022
being given to the petitioner to clear the liability. It
is stated that as on today the total amount due
from the petitioner is Rs.36,52,794/- (Rupees Thirty
six lakh fifty two thousand seven hundred ninety
four only). It was further submitted that though
proceedings for recovery have been initiated, as a
matter of indulgence, the respondent bank is willing
to accept repayment of the outstanding amount in
limited instalments.
3. I have heard the learned counsel for the
petitioner as well as the learned Standing Counsel
for the respondents.
4. 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 (20) instalments.
5. Accordingly, there will be a direction to the
WPC NO.9561 OF 2022
respondent bank to accept repayment of the entire
outstanding amount of Rs.36,52,794/- (Rupees
Thirty six lakh fifty two thousand seven hundred
ninety four only) along with bank charges from the
petitioner on the following conditions:
(i) The outstanding amount of Rs.36,52,794/-
(Rupees Thirty six lakh fifty two thousand seven
hundred ninety four only) together with any accrued
interest/costs shall be repaid in twenty (20)
equated monthly instalments
(ii) The first instalment shall be paid on or
before 30.08.2022 and subsequent instalments
shall be paid on or before the last working day of
every succeeding month.
(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
WPC NO.9561 OF 2022
be kept in abeyance.
The writ petition is disposed of as above.
Sd/-
GOPINATH P.
JUDGE
SKP/10-8
WPC NO.9561 OF 2022
APPENDIX OF WP(C) 9561/2022
PETITIONER'S EXHIBITS:
EXHIBIT P1 TRUE COPY OF THE NOTICE ISSUED BY THE
RESPONDENT NO.1 TO THE PETITIONER UNDER SECTION
13(2) OF SARFAESI ACT DATED 03.02.2022.
RESPONDENTS' EXHIBITS: NIL
TRUE COPY
P.A.TO JUDGE
