Ratheesh R vs Authorized Officer
2022 Latest Caselaw 6350 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
        FRIDAY, THE 3RD DAY OF JUNE 2022 / 13TH JYAISHTA, 1944
                        WP(C) NO. 17593 OF 2022
PETITIONER:

            RATHEESH R.
            AGED 41 YEARS
            S/O RAJENDRAN, RAJ BHAVAN,PARAVATTOM, MANIYAR P.O.
            PUNALUR, KOLLAM DISTRICT, PIN NO. 689 662

            BY ADVS.
            JOBI.A.THAMPI
            BINNY.A.THOMAS
            S.R.REMYA
            SHOUKATH HUSAIN



RESPONDENTS:

    1       AUTHORIZED OFFICER
            STATE BANK OF INDIA, RASMEC KOTTARAKKARA, 1385/432A,
            ARPAN TOWERS,PRATHIBHA JUNCTION, KADAPPAKKADA, KOLLAM
            PIN-691008

    2       THE BRANCH MANAGER,
            STATE BANK OF INDIA,TOWN BRANCH, PUNALUR, KOLLAM
            DISTRICT. PIN- 691306

    3       THE BRANCH MANAGER,
            STATE BANK OF INDIA, KARAVALOOR BRANCH, KOLLAM
            DISTRICT. PIN- 691306
OTHER PRESENT:

            SRI, JAWAHAR JOSE (SC)




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 W.P (C) No.17593/2022                     -2-


                                   JUDGMENT

The petitioner has availed 3 separate loans from the respondent bank. One

among the loans is a housing loan the other is stated to be a loan for payment of

premium on insurance taken out by the petitioner (Sureksha loan) and the third is a

personal loan against the pension accruing to the petitioner.

2. The petitioner has approached this court seeking a limited relief of

repayment of the overdue amount in installments. The over due amount in respect

of the housing loan is stated to be Rs.5,56,595/- while the over due in respect of

insurance loan is Rs.21,909/- and the over due in respect of personal loan is

Rs.12,353/-.

3. During the course of hearing, petitioner has confined the relief to an

opportunity for repaying the overdue amount in instalments and to obtain

regularisation of the loan account.

4. It was submitted on behalf of the respondent bank that the petitioner

committed default in repayment and the over due amount in housing loan is

Rs.5,56,595/-, over due in respect of insurance loan is Rs.21,909/- and the over

due in respect of personal loan is Rs.12,353/-. 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 overdue amount in limited

instalments and regularise the loan accounts.

5. I have heard the learned counsel for the petitioner as well as the

learned Standing Counsel for the respondent Bank.

6. Having regard to the facts and circumstances of the case and the

situation now prevailing, apart from the submissions made as recorded above and

also taking into account the fact that the petitioner has undertaken to clear off the

overdue amount along with regular EMIs, I am of the view that the petitioner can be

granted an opportunity to clear off the overdue amount in ten (10) equal

instalments first of which shall be paid on or before 30-06-2022 and thereafter, if

the amount so directed is repaid within the time as directed above, to have the loan

account regularised.

7. Accordingly, there will be a direction to the respondent bank to accept

repayment of the entire overdue amount of Rs.5,90,857/- (total in all the three

loans) along with bank charges from the petitioner and regularise the loan account

of the petitioner on the following conditions:

(i) The overdue amount of Rs.5,90,857/- together with any accrued

interest and charges shall be repaid in ten equated monthly

instalments.

(ii) The first instalment shall be paid on or before 30-06-2022 and the

subsequent instalments shall be paid on the last working day of every

succeeding month.

(iii) Petitioner shall continue to pay the regular EMI's along with the

instalments directed above.

(iv) In the event of default of any one instalment, the respondent bank

shall be entitled to proceed in accordance with law.

(v) 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

AMG

APPENDIX OF WP(C) 17593/2022

PETITIONER EXHIBITS

Exhibit P1 TRUE COPY OF THE IDENTITY CARD NO.6396913 ISSUED BY SAINIK BOARD, MINISTRY OF DEFENCE

Exhibit P2 TRUE COPY OF THE TERMINATION LETTER DTD. 30-04-2020 ISSUED BY EASYDRIVE CAR RENTAL CO', JEDDAH, SAUDI ARABIA TO THE PETITIONER.

Exhibit P3 TRUE COPY OF THE NOTICE DTD.24.09.2019 ISSUED BY THE 1ST RESPONDENT UNDER SECTION 13(2) OF THE SECURITIZATION AND RECONSTRUCTION OF THE FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002.

Exhibit P4 TRUE COPY OF THE REPRESENTATION DTD.20-05-2022 SUBMITTED BY THE PETITIONER BEFORE THE 1ST RESPONDENT.

Exhibit P4(A) TRUE COPY OF THE POSTAL RECEIPT DTD.25-05-2022 IN RESPECT OF EXT.P4 REPRESENTATION.