Kerala High Court
P.J.Joseph vs State Bank Of India on 8 June, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
WEDNESDAY, THE 8TH DAY OF JUNE 2022 / 18TH JYAISHTA, 1944
WP(C) NO. 7299 OF 2020
PETITIONER/S:
P.J.JOSEPH
AGED 60 YEARS
S/O.JOSEPH, PUNNATHANATH HOUSE,BHARANANGANAM P.O.,
KOTTAYAM-686578.
BY ADV E.V.MOLY
RESPONDENT/S:
1 STATE BANK OF INDIA
THIRUNAKKARA (KOTTAYAM), PHOENIX TOWERS, OPP. PRIVATE
BUS STAND, REPRESENTED BY ITS AUTHORIZED OFFICER, -
686001.
2 KERALA STATE FINANCIAL ENTERPRISES LTD.,
REPRESENTED BY ITS MANAGING DIRECTOR, KSFE LTD., HEAD
OFFICE, BHADRATHA MUSEUM ROAD, TRICHUR-680020.
BY ADVS.
SMT.DEEPA NARAYANAN
SRI.SALIL NARAYANAN K.A., SC, KSFE LTD.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
08.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 7299 OF 2020 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.
2. Learned counsel appearing for the petitioner
submits that the petitioner had availed two loans from the 1st
respondent bank. But he could not repay the loans.
3. Learned Standing Counsel appearing for the
respondent bank submits that the petitioner availed two
loans of Rs.9,57,000/- and Rs.8,00,000/- 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. According to the learned Standing counsel
appearing for the respondent bank, as of now, balance
amount which is liable to be repaid is Rs.17,79,516/- (Rupees
Seventeen lakhs seventy nine thousand five hundred and
sixteen only) and the petitioner can be permitted to clear
the same in seven instalments.
4. I have heard the learned counsel for the
petitioner as well as the learned Standing counsel
appearing 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 outstanding
amount in seven instalments.
6. Accordingly, there will be a direction to the
respondent bank to accept repayment of the entire
outstanding amount of Rs.17,79,516/- (Rupees Seventeen
lakhs seventy nine thousand five hundred and sixteen only)
along with bank charges from the petitioner on the following
conditions:
(i) The outstanding amount of Rs.17,79,516/- (Rupees
Seventeen lakhs seventy nine thousand five hundred and
sixteen only)shall be repaid in seven equated monthly
instalments along with any accrued interest/costs;
(ii) The first instalment shall be paid on or before 30.06.2022
and the subsequent instalments shall be paid on or before
the 20th 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) 7299/2020
PETITIONER EXHIBITS
EXHIBIT P1 TRUE COPY OF THE JUDGMENT DATED 06.02.2018 IN
WPC 3068/2018.
EXHIBIT P2 TRUE COPY OF THE LETTER FOR FILING OF
COMPLAINT BEFORE LOK AYUKTHA.
EXHIBIT P3 TRUE COPY OF THE LETTER SUBMITTED BY THE
PETITIONER UNDER RTI ACT.
EXHIBIT P4 TRUE COPY OF THE REPLY LETTER RECEIVED BY THE
PETITIONER FROM 2ND RESPONDENT.
EXHIBIT P5 TRUE COPY OF THE NOTICE ISSUED BY THE
ADVOCATE COMMISSIONER.
Exhibit P6 THE TRUE COPY OF THE NOTICE DATED 25.4.2022
ISSUED BY ADVOCATE COMMISSIONER
