Kerala High Court
Sathi Devi Anil vs State Bank Of India on 3 May, 2024
Author: Kauser Edappagath
Bench: Kauser Edappagath
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE DR. JUSTICE KAUSER EDAPPAGATH
FRIDAY, THE 3RD DAY OF MAY 2024 / 13TH VAISAKHA, 1946
WP(C) NO. 16637 OF 2024
PETITIONERS:
1 SATHI DEVI ANIL,
AGED 45 YEARS
W/O LATE ANIL KK,
KUZHUMBIL HOUSE, KALAMPOOR P.O.,
ENANALLOOR, MUVATTUPUZHA,
ERNAKULAM, PIN - 686673
2 SANTHA KESAVAN NAIR,
AGED 74 YEARS
M/O LATE ANIL KK, KUZHUMBIL HOUSE,
KALAMPOOR P.O., ENANALLOOR,
MUVATTUPUZHA, ERNAKULAM, PIN - 686673
3 ABHIJITH. K.A.,
AGED 24 YEARS
S/O LATE ANIL KK, KUZHUMBIL HOUSE,
KALAMPOOR P.O., ENANALLOOR,
MUVATTUPUZHA, ERNAKULAM, PIN - 686673
4 ABHIRAMI ANIL,
AGED 20 YEARS
D/O LATE ANIL KK, KUZHUMBIL HOUSE,
KALAMPOOR P.O., ENANALLOOR,
MUVATTUPUZHA, ERNAKULAM, PIN - 686673
BY ADVS.
P.MOHAMED SABAH
LIBIN STANLEY
SAIPOOJA
SADIK ISMAYIL
R.GAYATHRI
M.MAHIN HAMZA
ALWIN JOSEPH
RAYEES P.
BENSON AMBROSE
W.P.(C) No. 16637/2024
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RESPONDENTS:
1 STATE BANK OF INDIA,
VAZHAKULAM BRANCH,VAZHAKULAM P.O,
REPRESENTED BY ITS MANAGER, PIN - 686670
2 THE AUTHORIZED OFFICER,
STATE BANK OF INDIA REGIONAL BUSINESS OFFICE-4
(MUVATTUPUZHA), 2ND FLOOR, V S TOWER,
KACHERITHAZHAM, MUVATTUPUZHA,
ERNAKULAM DISTRICT, PIN - 686661
3 THE AUTHORIZED OFFICER,
STATE BANK OF INDIA, STRESSED ASSETS RECOVERY
BREANCH, 7TH FLOOR, VANKARATH BUILDING,
PALARIVATTOM, ERNAKULAM, PIN - 682025
BY ADV S.LAKSHMY
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 03.05.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
W.P.(C) No. 16637/2024
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JUDGMENT
The petitioners are challenging the recovery proceedings initiated
against them under the Securitisation and Reconstruction of Financial Assests
and Enforcement of Security Interest Act, 2002. The petitioners have availed
a credit facility from the respondent Bank and consequent to the default
committed by the petitioners in repaying the amount, the said account is
declared as NPA. Accordingly, recovery proceedings have been initiated
which is impugned in this writ petition.
2. Heard.
3. The learned counsel appearing for the Bank submits that as on
date, an amount of Rs.53,14,073/- is outstanding. It is submitted by the
learned counsel for the Bank upon instructions that they are amenable for
granting an opportunity to the petitioners to repay the said amount in
reasonable monthly instalments.
In such circumstances, this writ petition is disposed of granting an
opportunity to the petitioners to clear the entire amount along with interest, in
12 equal monthly instalments commencing from 01/06/2024 onwards. The
subsequent instalments shall be paid by the petitioners on 5th day of every
month. In case of default on the part of the petitioners in payment of any of
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the instalments, the aforesaid facility shall stand cancelled, upon which the
Bank will be at liberty to proceed with the recovery proceedings. Subject to
the above direction, the recovery proceedings against the petitioners are
directed to be kept in abeyance.
Sd/-
DR. KAUSER EDAPPAGATH
JUDGE
APA
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APPENDIX OF WP(C) 16637/2024
PETITIONER EXHIBITS
EXHIBIT P1 THE TRUE COPY OF THE NOTICE DATED 04.03.2024
ISSUED BY THE ADVOCATE MISNA SALEEM IN MC NO.
655/2023 PENDING BEFORE THE ADDITIONAL CHIEF
JUDICIAL MAGISTRATE COURT, ERNAKULAM
