Kerala High Court
Sheeba Kamaludeen Alias Sheeba Kamal vs State Bank Of India on 6 September, 2024
Author: Dinesh Kumar Singh
Bench: Dinesh Kumar Singh
WP(C) NO. 29585 OF 2024
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DINESH KUMAR SINGH
FRIDAY, THE 6TH DAY OF SEPTEMBER 2024 / 15TH BHADRA, 1946
WP(C) NO. 29585 OF 2024
PETITIONER:
SHEEBA KAMALUDEEN ALIAS SHEEBA KAMAL,
AGED 49 YEARS
W/O. KAMALUDEEN, RESIDING AT ‘FATHIMA
VILLA', MEKONE, CHANDANATHOPE, KOLLAM, PIN -
691014
BY ADV B.SABITHA (DESOM)
RESPONDENT:
STATE BANK OF INDIA,
REPRESENTED BY THE AUTHORIZED OFFICER RACP, I AND
II FLOOR, RAVI'S ARCADE, KOLLAM DISTRICT, PIN -
691013
SRI. ARUN THOMAS-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 06.09.2024, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
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JUDGMENT
The present writ petition has been filed for the following
prayers:
"i) Issue a writ of mandamus or any other appropriate
writ, direction or order, directing the respondent to give
instalment facility for the repayment of the arrears of
loan amount and regularize the loan account by paying
the same in 15 installments along with EMI.
ii) Issue a writ of mandamus or any other appropriate
writ, direction or order, directing the respondent to stay
all the further proceedings initiated under Exhibit P1
notice.
iii) To issue such other reliefs as this Honourable Court
may deem fit and proper in the circumstances of this
case."
2. The petitioner had availed two housing loans from the
respondent Bank. The petitioner had created equitable mortgage
of her property having an extent of 2.02 Ares of land in
Re.Sy.No.184/11/2 of Block no.16 in Kottamkara Village, Kollam
Taluk, Kilikollur Sub District, Kollam District. The petitioner has
committed defaults in making repayment of the loan amount. And
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thereforre, the Bank after classifying the loan account of the
petitioner as Non-Performing Asset has proceeded under the
provisions of the SARFAESI Act and Rules made thereunder. As of
today, the total outstanding amount is Rs.13,38,298/- and the
total overdue amount is Rs.4,80,480/-.
3. The learned counsel for the respondent Bank submits
that if the petitioner pays the substantial upfront amount to the
Bank and the remaining overdue amount in installments as this
Court may fix, the Bank shall regularise the loan account of the
petitioner for making payment in terms of the loan agreement and
the Bank shall not proceed under the provisions of the SARFAESI
Act.
Considering the said stand of the learned counsel for the
respondent Bank, the present writ petition is disposed of with
following directions:
1. The petitioner shall pay Rs.1 lakh on or before
05.10.2024 and the remaining overdue amount in 6 equal
monthly installments along with regular installments. The 1 st
installment is to be paid on or before 07.11.2024 and the
remaining 5 installments to be paid on or before 7 th day of each
succeeding month.
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2. In case of failure to make payment of Rs.1 lakh or any
subsequent installments as directed above, the Bank shall be
free to proceed with the SARFAESI proceedings against the
petitioner for realization of the overdue amount, in accordance
with law.
3. After making payment of the entire overdue amount,
the petitioner shall continue to pay the regular monthly
installments in terms of the loan agreement to discharge the loan
liability to the Financial Institution.
Sd/-DINESH KUMAR SINGH
JUDGE
lsn
WP(C) NO. 29585 OF 2024
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APPENDIX OF WP(C) 29585/2024
PETITIONER EXHIBITS
Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED
08.08.2024 ISSUED BY THE RESPONDENT ALONG
WITH LEGIBLE COPY
Exhibit P2 TRUE COPY OF THE MARRIAGE INVITATION OF
THE DAUGHTER OF THE PETITIONER ISSUED BY
THE RESPONDENT
RESPONDENTS EXHIBITS: NIL
TRUE COPY
P.A TO JUDGE
LSN
