Kerala High Court
Vasudev R Pai vs State Bank Of India on 16 April, 2025
WP(C) NO. 14933 OF 2025 1
2025:KER:32559
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MRS. JUSTICE SHOBA ANNAMMA EAPEN
WEDNESDAY, THE 16TH DAY OF APRIL 2025 / 26TH CHAITHRA, 1947
WP(C) NO. 14933 OF 2025
PETITIONER:
VASUDEV R PAI,
AGED 50 YEARS
S/O RAMDAS PAI,ASMA QUARTERS, SERVICE STATION
ROAD,NEAR RACHANA ARTS CLUB, KELOTH,PAYYANNUR,
KANNUR, PIN - 670307
BY ADVS.
E.S.SANEEJ
S.LEKHA
RESPONDENTS:
1 STATE BANK OF INDIA,
REPRESENTED BY BRANCH MANAGER, RASMEC, ARYAN
ARCADE,KOTTENCHERRY, RAMNAGAR ROAD,KANHANGAD, KASARGODE,
PIN - 671315
2 THE BRANCH MANAGER,
STATE BANK OF INDIA,RASMEC, ARYAN ARCADE,KOTTENCHERRY,
RAMNAGAR ROAD,KANHANGAD, KASARGODE, PIN - 671315
3 THE AUTHORIZED OFFICER
STATE BANK OF INDIA, RASMEC, ARYAN ARCADE, KOTTENCHERRY,
RAMNAGAR ROAD, KANHANGAD, KASARGODE, PIN - 671315
BY ADVS.
C.Ajith Kumar
VARSHA S.S.(K/000877/2024)
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
16.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
The petitioner has approached this Court challenging proceedings
under the SARFAESI Act which have been initiated by the respondent
Bank for recovery of the amounts due from the petitioner.
2. During the course of hearing, petitioner has confined the relief to
an opportunity for repaying the overdue amount in instalments and to
obtain regularisation of the loan accounts.
3. It is submitted on behalf of the respondent Bank that the
petitioner committed default in repayment of vehicle loan and the
overdue amount as on 12.03.2025 is Rs.71,200/-(Rupees Seventyone
thousand two hundred only). It is further submitted that though
proceedings for recovery have been initiated, as a matter of indulgence,
the respondent Bank is willing to accept repayment of the overdue amount
in limited instalments and regularise the loan accounts.
4. Having regard to the circumstances of the case and the
submissions made as recorded above, I am of the view that the petitioner
can be granted an opportunity to repay the total overdue amount on
condition that a sum of Rs.10,000/- (Rupees Ten thousand only) shall be
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paid on or before 30.04.2025 and the balance overdue amount along with
any accrued interest, costs and charges shall be paid in 6 equal monthly
instalments, the first of which shall be paid on or before 30.05.2025 and
the subsequent instalments shall be paid on or before the 30th day of every
succeeding months and thereafter, if the amount so directed is repaid
within the time as directed above, to have the loan accounts regularised.
5. Accordingly, there will be a direction to the respondent Bank to
accept repayment of the entire overdue amount of Rs.71,200/-(Rupees
Seventyone thousand two hundred only)along with any accrued interest,
costs and charges from the petitioner and regularise the loan accounts of
the petitioner in the following manner:-
i. The petitioner shall pay a sum of Rs.10,000/- (Rupees Ten thousand
only) on or before 30.04.2025. The balance overdue amount along
with any accrued interest, costs and charges shall be paid in 6 equal
monthly instalments;
ii. The first instalment shall be paid on or before 30.05.2025 and the
subsequent instalments shall be paid on or before the 30th day of
every succeeding month;
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iii. Petitioner shall continue to pay the regular EMI's / instalments
along with the instalments directed above;
iv. In the event of default of any one instalment, the respondent Bank
shall be entitled to proceed in accordance with the law;
v. 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
lsn
2025:KER:32559
APPENDIX OF WP(C) 14933/2025
PETITIONER EXHIBITS
Exhibit P1 TRUE PHOTOCOPY OF THE POSSESSION NOTICE ISSUED
BY THE 3RD RESPONDENT DATED 12.03.2025
Exhibit P2 TRUE PHOTOCOPY OF THE REPRESENTATION SUBMITTED
BEFORE THE 3RD RESPONDENT DATED 02.04.2025
