Antony M.T vs State Bank Of India
2023 Latest Caselaw 5627 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
        THE HONOURABLE MRS. JUSTICE SHOBA ANNAMMA EAPEN
    FRIDAY, THE 12TH DAY OF MAY 2023 / 22ND VAISAKHA, 1945
                      WP(C) NO. 15341 OF 2023
PETITIONER:

          ANTONY M.T
          AGED 51 YEARS
          S/O MARY THOMAS,
          MALIYAKKAL HOUSE, THRIPUNITHURA., PIN - 682306

          BY ADV RENI JAMES


RESPONDENTS:

    1     STATE BANK OF INDIA
          REPRESENTED BY ITS BRANCH MANAGER,
          KANNADIKKADU BRANCH, MARADU,
          THRIPUNITHURA, PIN - 682304

    2     THE AUTHORIZED OFFICER
          STATE BANK OF INDIA,
          SMECCC ERNAKULAM, PIN - 682024

          BY ADVS.
          K.K.CHANDRAN PILLAI (SR.)(C-41)

          AMBILY S
          STANDING COUNSEL



     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
12.05.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) No.15341 of 2023

                                      -:2:-




                SHOBA ANNAMMA EAPEN, J.
                  -----------------------------------------------
                     WP(C) No.15341 of 2023
                 -------------------------------------------------
               Dated this the 12th day of May, 2023


                                JUDGMENT

The petitioner availed a loan for an amount of

Rs. 15,00,000/- from the respondent bank. On committing

default in repayment, the respondent bank initiated recovery

proceedings against the petitioner. Aggrieved by the

issuance of notice under Section 13(2) the SARFAESI Act,

2002, the petitioner has approached this Court with the

above writ petition.

2. During the course of hearing, the 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 is Rs.12,33,092/- (Rupees Twelve Lakhs

Thirty Three Thousand and Ninety Two Rupees only). It was WP(C) No.15341 of 2023

further submitted that the respondent bank is willing to

accept repayment of the outstanding amount in limited

instalments.

4. I have heard the learned counsel for the petitioner

and the learned counsel for the respondent bank.

5. 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 eight instalments.

Accordingly, there will be a direction to the respondent

bank to accept repayment of the entire outstanding amount

of Rs.12,33,092/- (Rupees Twelve Lakhs Thirty Three

Thousand and Ninety Two Rupees only) along with bank

charges from the petitioner on the following conditions:

i. The petitioner is directed to pay a sum of Rs.1,00,000/-

on or before 31.05.2023.

ii. The balance outstanding amount of Rs.11,33,092/-

(Rupees Eleven Lakhs Thirty Three Thousand and

Ninety Two Rupees only) in eight equated monthly

instalments, the first of which shall be paid on or before WP(C) No.15341 of 2023

30.06.2023.

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/-

SHOBA ANNAMMA EAPEN JUDGE jka/12.05.23 WP(C) No.15341 of 2023

APPENDIX OF WP(C) 15341/2023

PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED 15.03.2023 ISSUED BY THE 2ND RESPONDENT