Shareefa K vs State Bank Of India
2022 Latest Caselaw 10369 Ker

WP(C) NO. 29835 OF 2022
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                     IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                            PRESENT
               THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
         FRIDAY, THE 7TH DAY OF OCTOBER 2022 / 15TH ASWINA, 1944
                               WP(C) NO. 29835 OF 2022
PETITIONER/S:

              SHAREEFA K.
              AGED 54 YEARS
              W/O MOIDEEN,
              KONNADAN HOUSE, MUNDAKAI P.O., WAYANAD.
              , PIN - 673577

              BY ADVS.
              J.G.SYAMNATH
              MUHAMMED SAFEER A.



RESPONDENT/S:

              STATE BANK OF INDIA
              STRESSED ASSETS RECOVERY BRANCH,
              32/1747, K1, 7TH FLOOR,
              VANKARATH TOWERS,
              PALARIVATTOM BYE PASS JUNCTION,
              ERNAKULAM.
              REPRESENTED BY ITS AUTHORISED OFFICER
              , PIN - 682024

      THIS    WRIT    PETITION    (CIVIL)      HAVING       COME   UP   FOR   ADMISSION   ON
07.10.2022,    THE     COURT     ON   THE    SAME     DAY    DELIVERED    THE   FOLLOWING:
Sri.Haskar
 WP(C) NO. 29835 OF 2022
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                             BECHU KURIAN THOMAS, J.
                    ===========================
                              W.P.(C) No.29835 of 2022
                   --------------------------------------------------------
                       Dated this the 7th day of October, 2022


                                       JUDGMENT

Petitioner as borrower from the respondent bank, has committed

default in repayment. Consequently, proceedings have been initiated by

the bank for recovery of the amounts due.

2. During the course of hearing, petitioner has confined the relief to

an opportunity for repaying the outstanding amount in instalments.

3. It was submitted on behalf of the respondent bank that petitioner

committed default in repayment and the outstanding amount is

Rs.27,31,594/-. 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 outstanding amount in limited

instalments.

4. I have heard Syamnath, learned counsel for the petitioner as well

as Sri.Jithesh Menon, 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

outstanding amount in 18 instalments.

6. Accordingly, there will be a direction to the respondent bank to

accept repayment of the entire outstanding amount of Rs.27,31,594/- along

with bank charges from the petitioner on the following conditions: WP(C) NO. 29835 OF 2022

i) The outstanding amount of Rs.27,31,594/- shall be repaid in 18

equated monthly instalments.

ii) The first instalment shall be paid on or before 07.11.2022 and

the remaining instalments shall be paid on or before the 7 th

day 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.

BECHU KURIAN THOMAS JUDGE jm/ WP(C) NO. 29835 OF 2022

APPENDIX OF WP(C) 29835/2022

PETITIONER EXHIBITS

Exhibit-P1 A TRUE COPY OF THE NOTICE UNDER SECTION 13(2) OF THE SARFAESI ACT, 2002 DATED 23-06-2022

Exhibit-P2 A TRUE COPY OF THE COUNTER FOIL OF THE PAYMENT MADE BY THE PETITIONER DATED 24-02-2022