Kerala High Court
Rajesh.K.P vs State Bank Of India on 28 June, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
TUESDAY, THE 28TH DAY OF JUNE 2022 / 7TH ASHADHA, 1944
WP(C) NO. 20950 OF 2022
PETITIONER:
RAJESH.K.P,
AGED 46 YEARS,
S/O PONNAAPPPAN, KUMAMALIL HOUSE, KAVALAM PO,
PIN -688 506, KUMARAPURAM PANCHAYATH, VILLAGE,
KARTHIKAPALLY TALUK, ALAPPUZHA DISTRICT.
BY ADVS.
NISHIN GEORGE VIJAYABABU
ANNAMMA PHILIP
XAVIER THOMAS V.T.
RESPONDENTS:
1 STATE BANK OF INDIA
KAVALAM BRANCH, BRANCH CODE 70229, MUNDAKAPADAM
BUILDINGS ,THAMARASSERY JUNCTION,KAVALAM PO 688 506
ALAPPUZHA DISTRICT REPRESENTED BY ITS BRANCH MANAGER
2 THE AUTHORIZED OFFICER
STATE BANK OF INDIA (SBI) RASMEC,
ALAPPUZHA RANCH CODE: 61048, BEACH ROAD
ALAPPUZHA DISTRICT, PIN-688 012.
S
SRI. JAYESH MOHAN KUMAR (SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
28.06.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 20950 OF 2022
2
JUDGMENT
The petitioner has approached this Court challenging
proceedings under the SARFAESI Act which have been initiated
by the bank 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
instalments and to obtain regularisation of the loan account.
3. It was submitted on behalf of the respondent bank that
the petitioner committed default in repayment of the housing
loan and the overdue amount is Rs.3,73,000/-(Rupees three
lakhs seventy three thousand 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 overdue amount in limited instalments and
regularise the loan account.
4. I have heard the learned counsel for the petitioner as
well as the learned counsel for the respondents.
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
WP(C) NO. 20950 OF 2022
instalments and thereafter, if the amount so directed is repaid
within the time as directed above, to have the loan account
regularised.
6. Accordingly, there will be a direction to the respondent
bank to accept repayment of the entire overdue amount of
Rs.3,73,000/-(Rupees three lakhs seventy three thousand only)
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.3,73,000/-(Rupees three lakhs
seventy three thousand only) along with any accrued
interest and charges shall be repaid in 10 equated monthly
instalments.
ii. The first instalment shall be paid on or before 30.07.2022
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
DK
WP(C) NO. 20950 OF 2022
APPENDIX OF WP(C) 20950/2022
PETITIONER EXHIBITS
Exhibit-P1 COPY OF THE POSSESSION NOTICE DATED
4-1-2022 WAS ISSUED TO THE PETITIONER
AND THE CO BORROWER BY THE 2ND
RESPONDENT
Exhibit-P2 COPY OF THE NOTICE DATED 13-6-2022
ISSUED BY THE ADVOCATE COMMISSIONER IN
MC NO 273/2022 BEFORE THE HON'BLE CHIEF
JUDICIAL MAGISTRATE'S COURT ALAPPUZHA
