Jose V Daniel vs State Bank Of India Branch At ...
2023 Latest Caselaw 1479 Ker

            IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                  PRESENT
             THE HONOURABLE MR. JUSTICE GOPINATH P.
  FRIDAY, THE 20TH DAY OF JANUARY 2023 / 30TH POUSHA, 1944
                       WP(C) NO. 1085 OF 2023
PETITIONER:

            JOSE V DANIEL
            AGED 54 YEARS, S/O. V.K DANIEL,
            VADAKEMUNDAKATHIL, KADAPRA- MANNAR P.O,
            PATHANAMTHITTA DISTRICT, PIN - 689 630.
            BY ADVS.
                     JOSEPH GEORGE
                     P.J.FRANCIS
                     BIJO THOMAS GEORGE
                     P.A.REJIMON
                     SAJEEV JOHN T.


RESPONDENTS:

    1       STATE BANK OF INDIA BRANCH AT MANNAR
            REPRESENTED BY ITS BRANCH MANAGER, MANNAR P.O,
            ALAPPUZHA, PIN - 689 622.


    2       THE AUTHORIZED OFFICER
            STATE BANK OF INDIA, RASMEC,
            AMBANATT BUILDING, NEAR KSRTC BUS STATION,
            MAVELIKKARA, PIN - 690 101.



OTHER PRESENT:

            ADV. SANTHOSH MATHEW (SC)



     THIS     WRIT     PETITION    (CIVIL)     HAVING    COME    UP    FOR
ADMISSION     ON   20.01.2023,      THE     COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 W.P.(C) No.1085/2023                 -:2:-




                             JUDGMENT

Petitioner availed three separate loans from the

respondent Bank. On default being committed, proceedings

have been initiated against the petitioner under the provisions

of the Securitisation and Reconstruction of Financial Assets and

Enforcement of Security Interest Act (SARFAESI Act) to recover

amounts due under the aforesaid three loans. The loans include

one housing loan and two business loans.

2. The learned counsel appearing for the petitioner

submits that the petitioner may be permitted to clear the

liability in installments.

3. The learned counsel appearing for the respondent

Bank submits that there are no overdues in respect of the

housing loan. It is submitted that out of the remaining two

loans one of the loan cannot be regularized and the entire

amount of Rs.4,50,065/- (as on 16-01-2023) has to be repaid in

full. In respect of the other business loan, it is submitted that

the petitioner can be permitted to clear the overdue amount of

Rs.11,43,825/-.

4. The learned counsel appearing for the petitioner

submits that since the term of the business loan, where the

overdue amount is Rs.11,43,825/- will also expire shortly, the

petitioner may be permitted to clear the outstanding amount in

respect of both business loans in installments.

5. The learned counsel appearing for the respondent

bank submits that the bank has no objection in permitting the

petitioner to clear the entire outstanding amount in respect of

all the loans in installments. It is submitted that the total

outstanding amount (as on 16-01-2023) in respect of all three

loans put together is Rs.17,22,818/-(Rupees Seventeen Lakh

Twenty Two Thousand Eight Hundred and Eighteen only).

6. 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

installments.

7. Accordingly, there will be a direction to the respondent

bank to accept repayment of the entire outstanding amount of

Rs.17,22,818/-(Rupees Seventeen Lakh Twenty Two Thousand

Eight Hundred and Eighteen only) along with any accrued

interest and bank charges from the petitioner on the following

conditions:

(i) The total outstanding amount of Rs.17,22,818/-(Rupees

Seventeen Lakh Twenty Two Thousand Eight Hundred and

Eighteen only) in respect of all the three loans together with any

accrued interest/cost shall be repaid in 18 equated monthly

installments;

(ii) The first installment shall be paid on or before

15-02-2023. The subsequent installments shall be paid on or

before the 15th day of the succeeding months;

(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.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE ats

APPENDIX OF WP(C) 1085/2023

PETITIONER EXHIBITS

Exhibit P-1 TRUE PHOTOCOPY OF NOTICE DATED 09-01-2023 ISSUED BY THE 2ND RESPONDENT