Aswathy Lekshmi T.S vs State Bank Of India
2023 Latest Caselaw 11281 Ker

           IN THE HIGH COURT OF KERALA AT ERNAKULAM
                               PRESENT
                THE HONOURABLE MR.JUSTICE N.NAGARESH
FRIDAY, THE 27TH DAY OF OCTOBER 2023 / 5TH KARTHIKA, 1945
                       WP(C) NO. 32359 OF 2023
PETITIONERS:

    1          ASWATHY LEKSHMI T.S.,
               AGED 36 YEARS
               W/O NITHIN MENON C., KOTTARATHIL VEEDU,
               VILAKUDI P.O., PATHANAPURAM, KOLLAM,
               PIN - 691508
    2          NITHIN MENON C.,
               AGED 38 YEARS
               KOTTARATHIL VEEDU, VILAKUDI P.O.,
               PATHANAPURAM, KOLLAM, PIN - 691508

RESPONDENTS:

    1          STATE BANK OF INDIA,
               REP. BY ITS AUTHORISED OFFICER,
               STRESSED ASSETS RECOVERY BRANCH, LMS COMPOUND,
               OPP. MUSEUM WEST GATE, VIKAS BHAVAN P.O.,
               THIRUVANANTHAPURAM, PIN - 695033
    2          AUTHORISED OFFICER,
               STATE BANK OF INDIA, STRESSED ASSETS RECOVERY
               BRANCH, LMS COMPOUND, OPP. MUSEUM WEST GATE,
               VIKAS BHAVAN P.O., THIRUVANANTHAPURAM,
               PIN - 695033
               SRI.JITHESH MENON, SC

        THIS    WRIT   PETITION    (CIVIL)   HAVING   COME    UP    FOR
ADMISSION       ON   27.10.2023,   THE   COURT   ON   THE    SAME   DAY
DELIVERED THE FOLLOWING:
 WP(C) NO. 32359 OF 2023
                                    ..2..




                          N.NAGARESH, J.
               ---------------------------------------------
                    W.P.(C) No.32359 of 2023
               ----------------------------------------------
              Dated this the 27th day of October, 2023

                       JUDGMENT

The petitioners state that the 1 st petitioner along with

one Vijayamma availed a home loan of Rs.15 lakhs along

with a home loan insurance of Rs.22,505/-. The 2 nd petitioner

who is the husband of the 1 st petitioner availed a Cash Credit

facility of another Rs.20 lakhs. These advances were received

during 2014-2017.

2. The petitioners state that for reasons beyond the

control of the petitioners, they could not repay the loan

installments promptly. The respondents thereupon issued

notice under Section 13(2) of the SARFAESI Act, 2002.

3. The petitioners submit that if a breathing time is

granted, the petitioners will be able to clear the overdue WP(C) NO. 32359 OF 2023 ..3..

arrears in installments. The petitioners submit that in view of

the construction carried out by him on behalf of KSRTC and

Government, huge amounts are due to him as is evidence by

Ext.P4 judgment. Therefore, the petitioners may be granted 24

installments to repay the overdues.

4. Standing Counsel entered appearance on behalf of

the 1st respondent-Bank and resisted the writ petition. The

Standing Counsel pointed out that since securitization

proceedings are invoked, the writ petition itself is not

maintainable. However, if the petitioners make substantial

payment immediately, in that case, a reasonable time can be

granted to the petitioners to clear the overdues.

5. Heard both sides.

6. The petitioners have taken a home loans and a

Cash Credit facility. The petitioners state that they had paid

initial installments promptly. They could not maintain

repayment for reasons beyond their control. Taking into WP(C) NO. 32359 OF 2023 ..4..

consideration the facts of the case, I am inclined to grant the

petitioners some time to clear the dues.

7. The writ petition is therefore disposed of with the

following directions:

(i) The petitioners shall remit an amount of Rs. 5 lakhs

on or before 30.11.2023.

(ii) The remaining outstanding amount along with

accruing interest and other administrative charges, if

any, shall be paid in 10 consecutive Monthly

Installments immediately thereafter.

(iii) In case the petitioners commit any default in making

any of the installments, the respondents will be at

liberty to proceed against the petitioners in

accordance with law.

(iv) If the petitioners continue to remit the amount as

directed above, no coercive proceedings shall be

taken against the petitioners.

WP(C) NO. 32359 OF 2023 ..5..

(v) After making the initial payment of Rs.5 lakhs the

petitioners will be liberty to approach the respondents

for OTS benefits.

Sd/-

N.NAGARESH, JUDGE

AS WP(C) NO. 32359 OF 2023 ..6..

APPENDIX OF WP(C) 32359/2023

PETITIONERS' EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE BANK STATEMENT OF THE HOME LOAN AVAILED BY THE 1 ST PETITIONER DATED14.06.2023 EXHIBIT P2 TRUE COPY OF THE BANK STATEMENT OF THE CASH CREDIT (CONTRACTORS SPECIAL) AVAILED BY THE 2 ND PETITIONER DATED 20.06.2023 EXHIBIT P3 TRUE COPY OF THE NOTICE UNDER S. 13(2) OF THE SARFAESI ACT, 2002 DATED 22.06.2022 ISSUED BY THE 2ND RESPONDENT TO THE 2 ND PETITIONER EXHIBIT P4 TRUE COPY OF THE JUDGMENT DATED 16.09.2022 IN W.P.(C) NO. 23017/2020 OF THIS HON'BLE COURT EXHIBIT P5 TRUE COPY OF THE POSSESSION NOTICE UNDER S. 13(4) OF THE SARFAESI ACT DATED 07.10.2022 ISSUED BY THE 3 RD RESPONDENT