Saritha Anand vs State Bank Of India
2023 Latest Caselaw 98 Ker

                IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
                 THE HONOURABLE MR. JUSTICE GOPINATH P.
        FRIDAY, THE 6TH DAY OF JANUARY 2023 / 16TH POUSHA, 1944
                         WP(C) NO. 258 OF 2023
PETITIONER/S:

            SARITHA ANAND
            AGED 45 YEARS
            PROPRIETOR, M/S CLASSICAL STEEL KITCHEN INTERIOR,
            2/38 KANNAMPARA ROAD, IRUNILAMKODE P O
            THRISSUR
            , PIN - 680583
            BY ADV K.AMAR RAGH


RESPONDENT/S:

    1       STATE BANK OF INDIA
            ARMB
            REP.BY CHIEF MANAGER AND AUTHORISED OFFICER
            R.S,BUILDING, M.G ROAD ERANAKULAM, PIN - 682011
    2       THE ASSISTANT GENERAL MANAGER
            STATE BANK OF INDIA, PRAMEKKAVU TEMPLE BRANCH
            GEETHANJALI, THRISSUR
            , PIN - 680001



            ADV. TOM K THOMAS (SC)


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
06.01.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 258 OF 2023                  2



                                 JUDGMENT

Petitioner has approached this Court, challenging

proceedings initiated by the respondent Bank under the

provisions of the Securitisation and Reconstruction of

Financial Assets and Enforcement of Security Interest Act,

for recovery of the amounts due from the petitioner.

2. Learned counsel appearing for the petitioner

submits that the petitioner availed credit facilities from the

respondent bank, but she could not repay that loan because

of financial crisis. During course of hearing, petitioner has

confined the relief to an opportunity for repaying the liability

in instalments.

3. Learned counsel appearing for the respondent

bank submits that the petitioner availed term loans from the

respondent bank and committed default in repayment. It is

also submitted that the loan accounts of the petitioner

cannot be regularised as the loan accounts have been

recalled and the bank has already filed an O.A. before the

Debts Recovery Tribunal under the provisions of the

Recovery of Debts and Bankruptcy Act. It is submitted that

the entire outstanding amount due under the facilities can

be permitted to be paid in six equal monthly instalments.

According to the learned counsel appearing for the

respondent, as on 05.01.2023, the balance amount which is

liable to be repaid is Rs.42,17,434/- (Rupees Forty two lakhs

seventeen thousand four hundred and thirty four only) .

4. Learned counsel appearing for the petitioner

would submit that the petitioner is not disputing the liability

and she is only requesting for some accommodation to repay

the amount. It is submitted that going by the judgment of

the Division Bench of this Court in Sundaram BNP Paribas

Home Finance Ltd V. Nisha [2016(1) KLT SN 72

(C. No.74)], this Court in exercise of jurisdiction under

Article 226 of the Constitution of India can grant reasonable

instalments to clear the liability. It is submitted that the

petitioner is a woman entrepreneur, whose business was

affected on account of the Covid-19 pandemic and the

petitioner may be given at least twenty instalments to clear

the liabiliy.

5. Having heard the learned counsel appearing for the

petitioner and the learned counsel appearing for the

respondent bank and having regard to the circumstances of

the case and the situation now prevailing, I am of the view

that the petitioner can be granted an opportunity to repay

the outstanding amount in twelve instalments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.42,17,434/- (Rupees Forty two

lakhs seventeen thousand four hundred and thirty four only),

as on 05.01.2023, along with accrued interest and bank

charges from the petitioner in the following manner:

(i) The outstanding amount of Rs.42,17,434/- (Rupees Forty two lakhs seventeen thousand four hundred and thirty four only) shall be repaid in twelve equated monthly instalments along with any accrued interest/costs;

(ii) The first instalment shall be paid on or before 31.01.2023 and the subsequent instalments shall be paid on or before the last working 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.

Sd/-

GOPINATH P.

JUDGE ajt

APPENDIX OF WP(C) 258/2023

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF NOTICE ISSUED BY THE 1ST RESPONDENT DATED ON 19/11/2021 UNDER SECTION 13(4) OF THE SARFAESI ACT READ WITH RULE8(1)OF THE SECURITY INTEREST (ENFORCEMENT RULES) RULE 2002 Exhibit P2 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN MC 210/2022 DATED 08/12/2022