Kerala High Court
Nivin vs State Bank Of India Sbi on 30 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 32563 OF 2024
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2024:KER:72528
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
MONDAY, THE 30TH DAY OF SEPTEMBER 2024 / 8TH ASWINA, 1946
WP(C) NO. 32563 OF 2024
PETITIONER:
NIVIN
AGED 33 YEARS
S/O VIJAYAN NELLIPARAMBIL HOUSE, KSHB COLONY,
KALLEPULLY, PALAKKAD, PIN - 678005
BY ADVS.
T.K.SANDEEP
SWETHA R.
RESPONDENTS:
1 STATE BANK OF INDIA SBI
REPRESENTED BY ITS BRANCH MANAGER MG ROAD BRANCH,
ERNAKULAM, PIN - 682011
2 AUTHORISED OFFICER
STATE BANK OF INDIA MG ROAD ERNAKULAM, PIN - 682011
SRI. JAYESH MOHAN KUMAR .K-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
30.09.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 32563 OF 2024
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JUDGMENT
Dated this the 30th day of September, 2024
The present Writ Petition has been filed seeking
the following prayers:
i) issue a writ of certiorari or any other writ order or
direction, toquash EXHIBIT-P1 notice issued under
SARFAESI Act andfurther proceedings pursuant to the
same initiated bytherespondent Bank against the
property of the petitioner.
ii) Issue a Writ of mandamus or any other writ order or
direction, directing to the respondent bank to permit the
petitioner toremit the defaulted arrears in reasonable
installments;
iii) Issue a Writ of Mandamus or any other writ order or
direction, directing to the respondent bank to regularise
the loan; And
iv) Grant such other reliefs as are deem just and
necessaryinthefacts and circumstances of the case.
2. The petitioner and his brother had availed a housing
loan of Rs.19,29,659/- and a top up loan of Rs.12,50,000/-
and one Suraksha loan from the respondent bank. The
petitioner has mortgaged his property having an extent of
0.0307 Hectors of land and building in old Sy.No.715/4
resy.Block No.2/16 in Palakkad 2 village, Palakkad2 taluk
Palakkad District. The term of the loan for repayment is 10
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years ie, up to 2029. The petitioner has defaulted in
making repayment of the loans taken from the respondent
bank. Therefore, the bank after classifying the petitioner's
loan accounts as NPA, has proceeded under the provisions
of the SARFAESI Act and Rules made thereunder.
3. The learned counsel for the bank submits that if the
petitioner makes payment of substantial amount upfront
and remaining overdue amount in few instalments, along
with the regular instalments, the bank shall regularize the
loan accounts of the petitioner. As on today, the overdue
amount is Rs.5,00,000/- and the total outstanding amount
is Rs.40,00,000/-.
4. Considering the said stand of the learned counsel for
the bank, the present writ petition is disposed of in the
following terms:
i. The petitioner shall pay an upfront amount of
Rs.1,00,000/- on or before 15.10.2024 along with
one regular instalment and remaining overdue
amount in 5 equal monthly instalments, along
with the regular instalments. The 1st instalment
is to be paid on or before 15.11.2024 and
remaining 4 instalments on or before 15 th day of
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each succeeding month.
ii. Once the petitioner pays the entire overdue
amount, the bank shall regularize the loan
account of the petitioner.
iv. In case of failure to make payment of
Rs.1,00,000/- along with one instalment or any
subsequent instalments as directed above, the
bank shall be free to proceed further against the
petitioner for realizing the outstanding loan
amount.
With the aforesaid directions, the present writ petition
stands finally disposed of.
Sd/-
DINESH KUMAR SINGH
JUDGE
AP
WP(C) NO. 32563 OF 2024
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APPENDIX OF WP(C) 32563/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPYOF THEPOSSESSION NOTICE UNDER
SECTION 13(4) AND RULE 3 UNDER SECURITIZATION
AND RECONSTRUCTION OF FINANCIAL ASSETS
ANDENFORCEMENT OF SECURITY INTEREST ACT 2002
DATED 31/7/2024
Exhibit P2 TRUECOPY OF THE RECEIPT OF PAYMENT DATED
2/8/2024
