Ramachandran vs State Bank Of India
2022 Latest Caselaw 1195 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
               THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
        FRIDAY, THE 28TH DAY OF JANUARY 2022 / 8TH MAGHA, 1943
                              WP(C) NO. 3003 OF 2022
PETITIONER:

              RAMACHANDRAN
              AGED 54 YEARS
              S/O.LATE KRISHNAN, PROPRIETOR, INTECH ASSOCIATE ,XII/464-
              466, VATANAPPALLY.P.O,PAINOOKARAN HOUSE,
              KANDASSANKADAVU.P.O,
              THRISSUR-680613.
              BY ADV K.I.SAGEER


RESPONDENT:

              STATE BANK OF INDIA
              REPRESENTED BY ITS AUTHORISED OFFICER, ASSET RECOVERY
              MANGEMENT BRANCH, R.S.BUILDING, M.G.ROAD, ERNAKULAM-682011.
              BY ADVS.
              K.K.CHANDRAN PILLAI (SR.)
              S.AMBILY


     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
28.01.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 3003 OF 2022
                               -:2:-


                BECHU KURIAN THOMAS, J.
            -----------------------------------------
                  W.P.(C) No.3003 of 2022
            ----------------------------------------
          Dated this the 28th day of January, 2022

                          JUDGMENT

Petitioner as borrower from the respondent bank, has

committed default in repayment. Consequently,

proceedings have been initiated by the bank for recovery

of the amounts due.

2. During the course of hearing, petitioner has

confined the relief to an opportunity for repaying the total

outstanding amount in instalments.

3. It was submitted on behalf of the respondent bank

that the petitioner committed default in repayment and the

total outstanding amount is Rs.30,82,954/-. 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 total outstanding

amount in limited instalments.

WP(C) NO. 3003 OF 2022

4. I have heard Sri.K.I Sageer Ibrahim, the learned

counsel for the petitioner as well as Sri.K.K Chandran

Pillai, the learned Standing Counsel for the respondent.

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 view

that the petitioner can be granted an opportunity to repay

the total outstanding amount in '18' instalments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire total

outstanding amount of Rs.30,82,954/- along with bank

charges from the petitioner on the following conditions:

(i) The total outstanding amount of Rs.30,82,954/-

shall be repaid in '18' equated monthly instalments.

(ii) The first instalment shall be paid on or before 28/02/2022.

WP(C) NO. 3003 OF 2022

(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/-

BECHU KURIAN THOMAS JUDGE AJM WP(C) NO. 3003 OF 2022

APPENDIX OF WP(C) 3003/2022

PETITIONER'S EXHIBITS :

Exhibit P1 A TRUE COPY OF THE NOTICE NO.SME-TCR 93/2020-21 DATED 12-10-2021 ISSUED BY THE RESPONDENT UNDER SEC.13(2) OF THE ACT.

Exhibit P2 A TRUE COPY OF THE RULE.8(1) NOTICE NO.ARMB/EKM/DKK/657 DATED 17.01.2022 ISSUED BY THE RESPONDENT.

Exhibit P3 A TRUE COPY OF THE LAWYER NOTICE TMK/LN/16 DATED 17.01.2022 ISSUED BY THANKOM MUKUNDAKRISHNAN, ADVOCATE

RESPONDENT'S EXHIBITS : NIL

AJM //TRUE COPY// PA TO JUDGE