Jayyan Thankayyan @ Jayan T vs State Bank Of India, Stressed ...
2023 Latest Caselaw 1250 Ker

             IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
              THE HONOURABLE MR. JUSTICE GOPINATH P.
    WEDNESDAY, THE 18TH DAY OF JANUARY 2023 / 28TH POUSHA, 1944
                        OP (DRT) NO. 16 OF 2023
IN O.A NO.663/2022 BEFORE THE HONOURABLE DEBTS RECOVERY TRIBUNAL-
                             II,ERNAKULAM
PETITIONER/DEFFENDANT:

          JAYYAN THANKAYYAN @ JAYAN T,
          AGED 46 YEARS, S/O S. THANKAYYAN,
          PARAYADIVILAKATHU PUTHEN VEEDU,
          CHATHALAMPATTUKONAM, VEDIVACHANKOVIL P.O.
          PALLICHAL VILLAGE,,NEYYATINKARA TALUK,
          THIRUVANANTHAPUAM DISTRICT, KERALA - 695501
          BY ADV MARIAN G.M.THARAKAN


RESPONDENT/APPLICANT:

          STATE BANK OF INDIA,
          STRESSED ASSET RECOVERY BRANCH
          REP. BY ITS CHIEF MANAGER,
          OPP. MUSEUM WEST GATE, VIKAS BHAVAN P.O.,
          THIRUVANANTHPURAM, KERALA -, PIN - 69503


          ADV. JAWAHAR JOSE STANDING COUNSEL



    THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION
ON 18.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 O.P(DRT)No.16 of 2023
                                         2




                                JUDGMENT

Dated this the 18th day of January, 2023

The petitioner has filed this Original Petition under

Article 227 of the Constitution of India, seeking the following

reliefs;

i. Grant stay of proceedings in O.A No.663/2022 pending Before the Honourable Debt Recovery Tribunal-II, Ernakulam.

ii. Direct the Respondents to reschedule the repayment of the loan under fresh terms;

iii. Grant sufficient time to make payments in reasonable instalments of the amounts due and payable. iv. To pass such other orders/directions as this Honourable Court may deem fit and proper in exercise of its powers under Article 227 of the Constitution of India considering the facts and circumstances of the case, and the interest of justice.

2. It is the case of the petitioner that the petitioner

is willing to settle the entire liability in instalments and to

enable the petitioner to do so, the proceedings in O.A

No.663/2022 on the files of the Debts Recovery Tribunal-II,

Ernakulam may be kept in abeyance.

O.P(DRT)No.16 of 2023

3. The learned counsel appearing for the respondent

Bank would submit that the petitioner has no cause of action

to approach this Court by filing an Original Petition under

Article 227 of the Constitution of India. It is submitted that

the Original Application is yet to be adjudicated and the

same will be done, in accordance with law. It is submitted

that there are no grounds made out to stay the proceedings

before the Tribunal. It is submitted that not withstanding the

above, the petitioner can be permitted to clear the entire

liability by paying the amount claimed in the O.A, together

with any accrued interest and costs in some instalments.

4. Having heard the learned counsel for the

petitioner and the learned counsel appearing for the

respondent bank, I am clear in my mind that the petitioner

has no cause of action to approach this Court under Article

227 of the Constitution of India seeking the stay of the

proceedings in O.A No.663/2022. However, taking into

consideration the submission of the learned counsel that the

petitioner will settle the entire liability in instalments, this

Original Petition stands disposed of permitting the petitioner

to pay the amount of Rs.30,22,965/- which is the amount O.P(DRT)No.16 of 2023

due as on 20.10.2022, along with any accrued interest and

costs in twenty four (24) equal monthly instalments,

commencing from 10.02.2023. If the petitioner pays the

entire amount as the manner permitted above, the Original

Application namely, O.A No.663/2022 shall be withdrawn.

However, if the petitioner fails to pay any of the instalments

as permitted in this judgment, the petitioner will lose the

benefit of this judgment and it will be open to the bank to

proceeded against the petitioner in accordance with law.

Sd/-

GOPINATH P.

JUDGE AP O.P(DRT)No.16 of 2023

APPENDIX OF OP (DRT) 16/2023

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE PAPERBOOK OF THE PETITION IN O.A.NO.663/2022 DATED 29/10/2022