Mohammed Chalakkara vs State Bank Of India
2023 Latest Caselaw 5738 Ker

               IN THE HIGH COURT OF KERALA AT ERNAKULAM
                                PRESENT
           THE HONOURABLE MRS. JUSTICE SHOBA ANNAMMA EAPEN
        TUESDAY, THE 16TH DAY OF MAY 2023 / 26TH VAISAKHA, 1945
                       WP(C) NO. 15811 OF 2023
PETITIONER:

            MOHAMMED CHALAKKARA,
            AGED 52 YEARS,
            S/O.ALI KUNHI C, 'ASMA', KANDAMPARAMBATH HOUSE,
            ATHOLI P.O, KOZHIKODE., PIN - 673315

            BY ADVS.
            T.D.SUSMITH KUMAR
            T.O.DEEPA
            C.SIVADAS


RESPONDENTS:

    1       STATE BANK OF INDIA,
            ATHOLI BRANCH, ATHOLI P.O, KOZHIKODE, PIN - 673315
            REPRESENTED BY ITS BRANCH MANAGER.

    2       THE AUTHORIZED OFFICER,
            STATE BANK OF INDIA, ASSET RECOVERY MANAGEMENT BRANCH,
            R.S BUILDING, M.G ROAD, ERNAKULAM., PIN - 682011

            BY ADV.
            SRI.JITHESH MENON, SC, SBI


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.05.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 15811 OF 2023      -2-



                          JUDGMENT

The petitioner availed loans 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.60,00,000/- (Rupees

Sixty lakh only). It was 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 twelve(12) instalments.

6. Accordingly, there will be a direction to the

respondent bank to accept repayment of the entire

outstanding amount of Rs.60,00,000/- (Rupees Sixty lakh

only) along with bank charges from the petitioner on the

following conditions:

(i) The petitioner is directed to remit an

amount of Rs.5,00,000/- (Rupees Five

lakh only) on or before 10.06.2023. The

balance amount shall be paid in

twelve(12) equated monthly instalments,

on or before 10th of every month.

(ii) In the event of default of any one

instalment, the respondent bank shall be

entitled to proceed in accordance with

law.

(iii) 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

vv

APPENDIX OF WP(C) 15811/2023

PETITIONER EXHIBITS

EXHIBIT P-1 A TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED IN CMP NO.164/2023 ON THE FILE OF THE CHIEF JUDICIAL MAGISTRATE, KOZHIKODE.