Jacquelin Alias Lilly Pushpam vs State Bank Of India
2022 Latest Caselaw 6651 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                THE HONOURABLE MR. JUSTICE GOPINATH P.
     THURSDAY, THE 9TH DAY OF JUNE 2022 / 19TH JYAISHTA, 1944
                       WP(C) NO. 12473 OF 2022
PETITIONER:

          JACQUELIN ALIAS LILLY PUSHPAM
          AGED 52 YEARS, W/O. BENEDICT.H, PANICKER THOTTAM,
          ST.MATHEWS NAGAR, POZHIYOOR P.O.,
          THIRUVANANTHAPURAM,PIN-695 513.

          BY ADVS.
          SREEDEVI KYLASANATH
          ACHUTH KYLAS
          R.MAHESH MENON


RESPONDENTS:

    1     STATE BANK OF INDIA
          POZHIYOOR BRANCH, REPRESENTED BY ITS AUTHORIZED
          OFFICER, P.B.NO.1 DEVASWOM BANK BUILDING,
          POZHIYOOR P.O., TRIVANDRUM, KERALA,PIN-695 513.

    2     RETAIL ASSETS CENTRAL PROCEESING CENTRE,
          1ST FLOOR, CHANDRASEKHARAN NAIR, STADIUM COMPLEX,
          PALAYAM, THIRUVANANTHAPURAM-695 033.

          BY ADV R.S.KALKURA


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
09.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 12473 OF 2022                  2



                                 JUDGMENT

Petitioner has approached this Court challenging

proceedings initiated under the Securitisation and

Reconstruction of Financial Assets and Enforcement of

Security Interest Act (SARFAESI Act) for recovery of the

amounts due from the petitioner.

2. During the course of hearing, petitioner has

confined the relief to an opportunity for repaying the

overdue amount in installments and to obtain regularization

of the loan account.

3. It was submitted on behalf of the respondent bank

that the petitioner committed default in repayment and the

overdue amount is Rs.89,759/- (Rupees Eighty Nine

Thousand Seven Hundred and Fifty Nine only)(as on 05-04-

2022). 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 installments and regularize the

loan account.

4. I have heard Adv.Sreedevi Kylasanath, learned

counsel for the petitioner as well as Adv.R.S Kalkura, 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 overdue amount

in 10 installments and thereafter, if the amount so directed

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

account regularized.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire overdue

amount of Rs.89,759/- (Rupees Eighty Nine Thousand Seven

Hundred and Fifty Nine only) along with bank charges from

the petitioner and regularize the loan account of the

petitioner on the following conditions:

(I) The overdue amount of Rs.89,759/- (Rupees

Eighty Nine Thousand Seven Hundred and Fifty Nine only)

shall be repaid in 10 equated monthly installments along

with any accrued interest and costs;

(ii) The first installment shall be paid on or before

10-07-2022 The subsequent installments shall be paid on or

before the last working day of succeeding months;

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

along with the installments directed above;

(iv) In the event of default of any one installment, 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

ats

APPENDIX OF WP(C) 12473/2022

PETITIONER EXHIBITS

Exhibit P1 THE TRUE COPY OF THE BANK STATEMENT TO THE CREDIT FACILITY AVAILED BY PETITIONERS SON DATED 03.03.2022.

Exhibit P2 TRUE COPY OF THE NOTICE UNDER SEC 13 (2) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002, ISSUED BY THE RESPONDENT BANK DATED 03.09.2021 TO PETITIONER'S SON.

Exhibit P3 THE TRUE COPY OF THE DISABILITY CERTIFICATE OF PETITIONERS HUSBAND SRI.BENEDICT H, DATED 17.05.2018 ISSUED FROM GENERAL HOSPITAL, NEYYATTINKARA.

Exhibit P4 THE TRUE COPY OF THE NOTICE ISSUED TO THE PETITIONER BY THE ADVOCATE COMMISSIONER IN MC NO 72 OF 2022 DATED NIL.