Kerala High Court
Latha Sreedharan vs State Bank Of India on 11 January, 2023
WP(C) NO. 41793 OF 2022
1
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
WEDNESDAY, THE 11TH DAY OF JANUARY 2023 / 21ST POUSHA, 1944
WP(C) NO. 41793 OF 2022
PETITIONER:
LATHA SREEDHARAN,
AGED 53 YEARS,
W/O SREEDHARAN, CHEMBOTH HOUSE, HOUSE NO.24
KOOTTALA TEMPLE,ARIMBOOR P.O, THRISSUR-680 620.
BY ADVS.
K.I.SAGEER
MUHAMMED YASIL
RESPONDENTS:
1 STATE BANK OF INDIA,
REPRESENTED BY ITS AUTHORISED OFFICER,
ASSET RECOVERY MANAGEMENT BRANCH, FIRST FLOOR,
R.S BUILDING, M.G ROAD, ERNAKULAM-682 011.
2 STATE BANK OF INDIA,
BRANCH MANAGER,
FIRST FLOOR, KPS TOWER, AYYANTHOLE P.O,
THRISSUR - 680 003.
3 CHIEF MANAGER,
ASSET RECOVERY MANAGEMENT BRANCH,
STATE BANK OF INDIA, FIRST FLOOR, R.S BUILDING,
M.G ROAD, ERNAKULAM-682 011.
ADV.AMAL GEORGE (SC)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 11.01.2023, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
WP(C) NO. 41793 OF 2022
2
JUDGMENT
The petitioner availed a housing loan from the respondent
Bank. The petitioner has approached this Court challenging
proceedings under the SARFAESI Act which have been initiated by
the bank for recovery of the amounts due from the petitioner.
2. The learned counsel appearing for the respondent Bank
submits that the loan account of the petitioner cannot be
regularized as the Bank has already recalled the loan and an
Original Application as O.A.No.280/2021 is already pending before
the Debts Recovery Tribunal. It is submitted that the total
outstanding amount as on 23.12.2022 is Rs.31,87,790/-(Rupees
thirty one lakhs eighty seven thousand seven hundred and ninety
only) and that the Bank has no objection in granting some
reasonable instalments to the petitioner to clear the liability. It is
submitted that the number of instalments may be limited to six.
3. The learned counsel appearing for the petitioner
submits that the petitioner has not received any notice of the
Original Application. It is submitted that the tenure of the loan
was till the year 2029. It is submitted that the son of the
petitioner is completely paralyzed and is bed ridden. It is
submitted that considering the above and considering the fact
WP(C) NO. 41793 OF 2022
that the loan account cannot be regularized despite the fact that
the tenure was till the year 2029, the petitioner may be given
liberal instalments to clear the entire liability.
3. I have heard the learned counsel for the petitioner as
well as the learned Standing Counsel for the respondents.
4. 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 20
instalments.
5. Accordingly, there will be a direction to the respondent
bank to accept repayment of the entire outstanding amount of
Rs.31,87,790/-(Rupees thirty one lakhs eighty seven thousand
seven hundred and ninety only) along with any accrued interest,
costs and charges charges from the petitioner on the following
conditions:
(i)The outstanding amount of Rs.31,87,790/-(Rupees
thirty one lakhs eighty seven thousand seven
hundred and ninety only) along with any accrued
interest, costs and charges shall be repaid in 20
equated monthly instalments.
(ii)The first instalment shall be paid on or before
10.02.2023 and the subsequent instalments shall be
paid on or before the 10th day of every succeeding
WP(C) NO. 41793 OF 2022
month.
(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.
Sd/-
GOPINATH P.
JUDGE
DK
WP(C) NO. 41793 OF 2022
APPENDIX OF WP(C) 41793/2022
PETITIONER EXHIBITS
Exhibit-P1 A TRUE COPY OF THE NOTICE DATED
30.11.2022 ISSUED BY THE 1ST RESPONDENT
Exhibit-P2 A TRUE COPY OF THE LOAN ACCOUNT
STATEMENT
