Kerala High Court
Omanakuttan Nair vs State Bank Of India on 27 June, 2023
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE C.S.DIAS
TUESDAY, THE 27TH DAY OF JUNE 2023 / 6TH ASHADHA, 1945
WP(C) NO. 16440 OF 2023
PETITIONER:
OMANAKUTTAN NAIR,
AGED 53 YEARS
S/O RAGHAVA KURUP, RESIDING AT ELAMTHOTTATHIL HOUSE,
VETTIYAR P.O, MAVELIKKARA,
ALAPPUZHA DIST. -690558.
BY ADV BABU PAUL
RESPONDENTS:
1 STATE BANK OF INDIA,
STATE BANK OF INDIA, STRESSED ASSETS RECOVERY BRANCH,
7TH FLOOR, VANKARATH TOWERS,
PALARIVATTOM, ERNAKULAM, -682024.
2 STATE BANK OF INDIA,
STATE BANK OF INDIA, KOCHALUMMOOD, MAVELIKKARA,
REPRESENTED BY THE MANAGER,
ALAPPUZHA DISTRIC, PIN-690105.,
PIN - 690105
OTHER PRESENT:
SRI JITHESH MANON
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
27.06.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P.(C)No.16440/2023
-:2:-
Dated this the 27th day of June,2023
JUDGMENT
The writ petition is filed to direct the respondents
to permit the petitioner to pay off the outstanding
amount in equated monthly instalments and regularise
the loan account.
2. The petitioner's case is that, he had availed a
educational loan from the second respondent - Bank -
by creating an equitable mortgage. Due to unforeseen
circumstances, he could not pay the instalments on
time. The respondents are now proceeded against the
secured asset of the petitioner under the Securitisation
and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002 (in short
'Act'). The petitioner is prepared to pay off the
outstanding amount in instalments. Hence, the writ
petition.
W.P.(C)No.16440/2023
3. Heard; Sri. Babu Paul, the learned counsel
appearing for the petitioner and Sri.M.Jithesh Menon,
the learned counsel appearing for the respondent.
4. Sri. M.Jithesh Menon, on instructions,
submitted that the petitioner had availed three loans
from the second respondent - Bank. The loan
accounts were classified as Non-Performing Asset
(NPA) in the year 2021. The respondents have filed
O.A.No.550/2022 before Debt Recovery Tribunal-1,
Ernakulam. The respondents are not willing to permit
the petitioner to pay off the outstanding amount in
instalments. Hence, the writ petition may be dismissed.
5. The Hon'ble Supreme Court in South Indian
Bank Ltd vs. Naveen Mathew Philip (2023 LiveLaw
(SC) 320), after adverting to a myriad of earlier judicial
pronouncements rendered under the Act, has
categorically declared that High Courts shall not,
unless in extraordinary circumstances, interfere with
W.P.(C)No.16440/2023
proceedings initiated under the Act, in writ
proceedings filed under Article 226 of the Constitution
of India.
6. Having considered the pleadings and
materials on record, and taking note of the submissions
made across the Bar, I am not inclined to exercise the
discretionary powers of this Court under Article 226 of
the Constitution of India and entertain the writ
petition. Nonetheless, it would be up to the petitioner
to work out his statutory remedies as provided under
the Act.
Resultantly, the writ petition is dismissed, without
prejudice to the right of the petitioner to work out his
remedies, in accordance with law.
Sd/-
C.S.DIAS,JUDGE
DST/27.06.23 //True copy//
P.A.To Judge
W.P.(C)No.16440/2023
APPENDIX
PETITIONER EXHIBITS
EXHIBIT P1 TRUE COPY OF THE COMPLAINT MC. 36/23 FILED
BEFORE THE CJM COURT, ALAPPUZHA
EXHIBIT P2 TRUE COPY OF THE RECEIPT DT.24/4/23
EVIDENCING THE PAYMENT TO THE RESPONDENT.
RESPONDENT'S EXHIBITS: NIL
