Arachana Nath vs The State Bank Of India
2023 Latest Caselaw 739 Ker

Citation : 2023 Latest Caselaw 739 Ker
Judgement Date : 12 January, 2023

Kerala High Court

Arachana Nath vs The State Bank Of India on 12 January, 2023

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
          THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
    THURSDAY, THE 12TH DAY OF JANUARY 2023 / 22ND POUSHA, 1944
                        WP(C) NO. 42124 OF 2022
PETITIONER :

          ARACHANA NATH,
          AGED 36 YEARS,
          W/O ANILKUMAR, GANGA LABHAM MARKET,
          VP - IX/224 A TO G, THUMBODE,
          CHAMBALUVILA, THIRUVANANTHAPURAM,
          PIN - 695 609

          BY ADV REENA ABRAHAM



RESPONDENTS :

    1     THE STATE BANK OF INDIA,
          KILIMANOOR BRANCH, REEMA COMPLEX,
          OPPOSITE KILIMANOOR TOWN HALL,
          THIRUVANANTHAPURAM,
          REPRESENTED THROUGH ITS BRANCH MANAGER,
          PIN - 695 601

    2     THE AUTHORISED OFFICER,
          THE STATE BANK OF INDIA,
          STRESSED ASSETS RECOVERY BRANCH, LMS BRANCH,
          OPP.MUSEUM WEST GATE, VIKAS BHAVAN P.O,
          THIRUVANNATHAPURAM, PIN - 695 033

          BY SRI.M.JITHESH MENON, SC




     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 42124 OF 2022
                                        2




                   BECHU KURIAN THOMAS, J.
                 =-=-=-=-=-=-=-=-=-=-=-=-=-=
                   W.P.(C) No.42124 of 2022
                 =-=-=-=-=-=-=-=-=-=-=-=-=-=
             Dated this the 12th day of January, 2023

                                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 the

petitioner committed default in repayment and the outstanding amount under

a cash credit facility as on 22.11.2022 along with interest is Rs.1,81,31,210/-.

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. Even though, petitioner challenged Ext.P1 notice of sale, it is

submitted by the learned counsel for the respondents that the sale did not

take place due to the absence of bidders.

WP(C) NO. 42124 OF 2022

5. The learned counsel for the petitioner thereafter submitted that

the petitioner would be satisfied if a reasonable instalment facility is granted to

repay the amount and she relies upon relief No.1 sought in the writ petition.

6. I have heard Smt.Reena Abraham, the learned counsel for the

petitioner as well as Sri.M.Jithesh Menon, the learned Standing Counsel for

the respondents.

7. 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 '12' instalments.

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

accept repayment of the entire outstanding amount of Rs.1,81,31,210/- along

with bank charges from the petitioner on the following conditions:

(i) The outstanding amount of Rs.1,81,31,210/- as on 22.11.2022 along with bank charges shall be repaid in '12' equated monthly instalments.

(ii) The first instalment shall be paid on or before 12.02.2023 and the remaining instalments shall be paid on or before the 12th day of the succeeding months.