Ranju.S.V vs The South India Bank Ltd
2022 Latest Caselaw 10953 Ker

                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                      PRESENT
                     THE HONOURABLE MR. JUSTICE GOPINATH P.
         THURSDAY, THE 3RD DAY OF NOVEMBER 2022 / 12TH KARTHIKA, 1944
                             WP(C) NO. 30896 OF 2022
PETITIONER:

     1        RANJU S.V.
              S/O. G.SASI,
              AGED 35 YEARS,
              S.V. SADANAM
              PERINGOTTUMELE, MATTAMOODU, NEMOM, P.O THIRUVANANTHAPURAM,
              PIN - 605036
              BY ADV S.NIDHEESH

RESPONDENTS:

     1        THE SOUTH INDIA BANK LTD
              REGIONAL OFFICE, 3RD FLOOR, YWCA BUILDING, SPENCER JUNCTION,
              M.G. ROAD, THIRUVANANTHAPURAM, PIN - 695001
              REP. BY ITS AUTHORIZED OFFICER.
     2        2. THE CHIEF MANAGER, SOUTH INDIA BANK LTD
              REGIONAL OFFICE, 3RD FLOOR, YWCA BUILDING, SPENCER JUNCTION,
              M.G. ROAD, THIRUVANANTHAPURAM, PIN - 695001
              BY ADVS.
              SUNIL SHANKAR A
              VIDYA GANGADHARAN(K/000424/2020)
              SANDHRA.S(K/001610/2021)

     THIS     WRIT    PETITION   (CIVIL)   HAVING   COME   UP   FOR   ADMISSION   ON
03.11.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WPC No.30896 of 2022
                                   2




                           JUDGMENT

Dated this the 03rd day of November, 2022

The petitioner availed two loans from the

respondent bank. One is an overdraft facility and the

other is a housing loan.

2. The learned counsel appearing for the

petitioner states that the petitioner may be given time

till 31.12.2022 to clear the outstanding amount of

Rs.54,07,668/- in the overdraft facility and the

petitioner may be permitted to clear the overdue of

Rs.35,18,752/- in respect of the housing loan in ten

equal monthly installments.

3. The learned Standing Counsel appearing for

the respondent bank states that if the petitioner

remits a sum of Rs.54,07,668/- in the overdraft

together with any accrued interest and costs on or

before 31.12.2022 and also pays the overdue in

respect of the housing loan of Rs.35,18,752/- in ten WPC No.30896 of 2022

equal monthly installments commencing from

30.11.2022, further proceedings against the

petitioner can be kept in abeyance.

Having heard the learned counsel for the

petitioner and the learned Standing Counsel

appearing for the respondent bank, the writ petition is

disposed of with the following directions;

(i) The petitioner will clear the overdraft of

Rs.54,07,668/- together with any accrued

interest and costs in two equal monthly

installments payable on 30.11.2022 and

31.12.2022;

(ii) The petitioner shall pay the overdue amount

due under the housing loan of

Rs.35,18,752/- together with any accrued

interest and costs in ten equal monthly

installments commencing from 30.11.2022

and subsequent installments shall be paid

on or before the last working day of every WPC No.30896 of 2022

succeeding month;

(iii) In the event of default of any one

installment, 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.

Sd/-

GOPINATH P.

JUDGE SKP/03-11 WPC No.30896 of 2022

APPENDIX OF WP(C) 30896/2022

PETITIONER'S EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE NOTICE U/S 13(4) OF THE SARFAESI ACT ISSUED BY THE RESPONDENTS DATED 6.11.2021 EXHIBIT P2 TRUE COPY OF THE NOTICE DATED 15.12.2021 ISSUED BY THE RESPONDENTS FOR PROPOSED SALE OF THE SECURED ASSETS.

EXHIBIT P3 TRUE COPY OF THE JUDGMENT IN W.P© 5661/22 DATED 26.8.2022 EXHIBIT P4 TRUE COPY OF THE COMMUNICATION FROM THE 1ST RESPONDENT BANK DATED 13.9.2022 RESPONDENTS' EXHIBITS:NIL

TRUE COPY

P.A.TO JUDGE