Kerala High Court
Deepakumari vs The Authorized Officer, State ... on 29 June, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE N.NAGARESH
WEDNESDAY, THE 29TH DAY OF JUNE 2022 / 8TH ASHADHA, 1944
WP(C) NO. 21100 OF 2022
PETITIONER:
DEEPAKUMARI
AGED 44 YEARS
W/O.SANTHOSH KUMAR N.A., NELLITHANATHU HOUSE,
KOTHANALLOOR P.O., PIN - 686 632, KOTHANALLOOR
VILLAGE, VAIKKOM TALUK, KOTTAYAM DISTRICT.
BY ADVS.
NISHIN GEORGE VIJAYABABU
XAVIER THOMAS V.T.
RESPONDENT:
THE AUTHORIZED OFFICER, STATE BANK OF INDIA
STRESSED ASSETS RECOVERY BRANCH, 7TH FLOOR
VANKARATH TOWERS, PALARIVATTOM, BY-PASS
JUNCTION, ERNAKULAM - 682 024.
BY ADVS.
S.AMBILY
K.K.CHANDRAN PILLAI (SR.)
SRI. JITHESH MENON , SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 29.06.2022, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
W.P.(C) No.21100/2022
2
JUDGMENT
Dated this the 29th day of June, 2022
The petitioner is before this Court seeking for a
direction to the respondent to regularize the loan account of
the petitioner with the State Bank of India.
2. The petitioner states that she had availed a
housing loan and a car loan from the respondent. The
petitioner availed two other loans also. The petitioner had to
pay an EMI of Rs.24,000/- for all the four loans. The housing
loan was repayable only within a period of 15 years.
3. The petitioner states that her husband was
employed abroad and dud to Covid-19 pandemic, he lost his
job and had to return to India. Consequently, there was
default in repayment of loan. The respondent initiated
SARFAESI proceedings against the petitioner. The
respondent took symbolic possession of the secured assets
of the petitioner in the month of March, 2022.
W.P.(C) No.21100/2022
4. The petitioner states that she is a house wife and
the repayment was done from the income generated by her
husband from his job abroad. Due to Covid-19 pandemic,
the petitioner's husband lost his job and therefore, the
petitioner was not in a position to repay the amount.
According to the petitioner, her husband has been employed
in Gulf again and if a breathing time is granted, the petitioner
will be able to clear off the entire liability.
5. The Standing Counsel entered appearance and
resisted the writ petition. The Standing Counsel controverted
all the allegations made by the petitioner in the writ petition. It
was submitted that the petitioner had availed three other
loans apart from the housing loan. The housing loan was
declared as NPA and all other loans were also declared as
NPA on 26.02.2021. The loan account has been transferred
to Stressed Assets Recovery Branch. It is too late for the
petitioner to come before this Court and seeks repayment of
amount in instalments. As all the loan accounts have been
W.P.(C) No.21100/2022
declared as NPA, there is no question of regularization of the
loan accounts, submitted the counsel for the petitioner. If the
petitioner can pay the entire loan amount, a short breathing
time may be granted.
6. I have heard the learned counsel for the petitioner
and the learned Standing Counsel for the respondent.
7. The petitioner has availed a housing loan and a
car loan. She has also availed an insurance Suraksha loan.
The four loan accounts of the petitioner were rendered NPA
and subsequently, the respondent invoked proceedings
under the provisions of the SARFAESI Act. The contention of
the petitioner is that her husband was working abroad and
due to Covid-19 pandemic, he lost his job and the repayment
was defaulted. Now, the petitioner is again employed in Gulf
countries and if sufficient time is granted, the petitioner will
be able to clear off the entire liability.
7. In the afore circumstances, this Court is of the
view that the petitioner can be granted reasonable time to
W.P.(C) No.21100/2022
clear the amount. According to the learned Standing
Counsel for the respondent, the total outstanding amount as
on 31.05.2022 is Rs.58,83,051/-.
8. In the facts and circumstances, the writ petition is
disposed of with the following directions:
(1) The petitioner shall remit an amount of
Rs.5,00,000/- (Rupees Five lakhs only) on or before
30.07.2022.
(2) The remaining outstanding amount along with the
accruing interest and other charges, if any, shall be remitted
in 14 equal and consecutive monthly instalments immediately
thereafter.
(3) If the petitioner commits any default in making the
payments as directed above, the respondents will be at
liberty to proceed against the petitioner in accordance with
law.
(4) If the petitioner makes the payments as directed
above, all coercive proceedings against the petitioner and
W.P.(C) No.21100/2022
her sureties shall stand deferred.
The sale proposed for tomorrow shall stand deferred till
31.07.2022 and if the petitioner makes the payment of Rs.5
lakhs by that day, the proceedings pursuant thereto shall
stand cancelled.
Sd/-
N.NAGARESH
JUDGE
AJ
W.P.(C) No.21100/2022
APPENDIX OF WP(C) 21100/2022
PETITIONER EXHIBITS
Exhibit P1 COPY OF THE POSSESSION NOTICE DATED
17/3/2022.
Exhibit P2 COPY OF THE SALE NOTICE DATED
13/5/2022.
