Kerala High Court
Sudhakaran vs The Authorised Officer Under ... on 22 January, 2020
Author: Alexander Thomas
Bench: Alexander Thomas
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE ALEXANDER THOMAS
WEDNESDAY, THE 22ND DAY OF JANUARY 2020 / 2ND MAGHA, 1941
WP(C).No.575 OF 2020(V)
PETITIONER:
SUDHAKARAN
AGED 53 YEARS
S/O.SADASIVAN,LEKSHMI SADANAM,CHENTHAPURE,DECENT
JUNCTION,
KOLLAM-691577.
BY ADVS.
SRI.M.KIRANLAL
SRI.MANU RAMACHANDRAN
SRI.T.S.SARATH
SRI.R.RAJESH (VARKALA)
RESPONDENTS:
1 THE AUTHORISED OFFICER UNDER SECURITIZATION ACT,
STATE BANK OF INDIA,RACPC,NEAR IRON BDIRGE,KOLLAM
DISTRICT -691001.
2 THE CHIEF MANAGER,
STATE BANK OF INDIA,KOLLAM BRANCH,NEAR IRON BRIDGE,
KOLLAM DISTRICT-691001.
SRI.JAWAHAR JOSE, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
22.01.2020, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No.575 OF 2020(V)
2
ALEXANDER THOMAS, J
============================
W.P.(C). NO. 575 OF 2020
==============================================
Dated this the 22nd day of January 2020
J U D G M E N T
The prayers in the above writ petition are as follows:
"Issue a writ of mandamus or any other appropriate writ, order or direction directing the respondents to allow the petitioner to pay the loan amount in Loan Accounts No. 67154028671 and A/c No. 67154029437 in monthly installments."
2. Heard Sri. M. Kiran Lal, learned counsel appearing for the petitioner and Sri. Jawahar Jose, learned standing counsel appearing for the respondent State Bank of India.
3. Sri. Jawahar Jose, learned standing counsel appearing for the respondent State Bank of India would submit on the basis of instructions that the overdues to be cleared by the petitioner in this loan transaction as on 21/01/2020 for regularizing the loan account is around Rs.1,95,000/- and that the respondent Bank is prepared to give reasonable time to the petitioner to clear the said dues in equal monthly installments, last of which should be paid on or before 30/04/2020.
4. The counsel for the petitioner submits that the petitioner should immediately pay an amount of not less than Rs.50,000/- to prove WP(C).No.575 OF 2020(V) 3 his bonafides to the respondent Bank on or before 31/01/2020 and that the petitioner may be given time to clear the balance of the overdues in 5 equal monthly installments.
5. After hearing both sides, the respondent Bank does not appear to have very serious objections to the suggestion made by this Court that the outer time limit for clearing the overdues could be extended upto 31/05/2020 instead of 30/04/2020 mentioned by the Bank.
6. Accordingly the following directions and orders are passed.
(i) The competent official of the respondent bank shall immediately furnish a comprehensive and authenticated statement of accounts pertaining to the instant loan transaction in question showing the precise details thereof and the total dues to be cleared by the borrower as on the date of issuance of the said statement.
(ii) The petitioner should immediately pay an amount of not less than Rs.50,000/- to the respondent Bank on or before 31/01/2020.
(iii) In case the petitioner pays an amount of Rs.50,000/- on or before 31/01/2020, then the respondent Bank will thereafter give reasonable time to the petitioner to clear the balance of the overdues in 4 equal monthly installments viz, on or before 28/02/2020, on or before 31/03/2020, on or before 30/04/2020 and on or before 31/05/2020. Until the expiry of the said time limit, further coercive steps in pursuance to the impugned proceedings shall be kept in abeyance by the WP(C).No.575 OF 2020(V) 4 respondent Bank. However, the petitioner shall also pay the applicable charges and interests thereon and should also clear regular EMI's in time.
(iv) On the other hand, if the petitioner does not comply with any of the abovesaid conditions, or defaults with any one of the said installments, including regular EMI's then the respondent Bank will be at liberty to proceed further with the impugned proceedings from the stage where it has stopped.
(v) However in case the petitioner complies with all the abovesaid conditions and clears the entire overdues within the said outer time limit of 31/05/2020, then the respondent Bank will thereupon take necessary steps to ensure that the loan account is duly regularized.
With these observations and directions, the above Writ Petition (Civil) stands finally disposed of.
Sd/-
ALEXANDER THOMAS
Nsd JUDGE
//true copy//
PA to Judge
WP(C).No.575 OF 2020(V)
5
APPENDIX
PETITIONER'S/S EXHIBITS:
EXHIBIT P1 THE TRUE COPY OF THE MC FILED BY THE
RESPONDENT BEFORE THE CHIEF JUDICIAL
MAGISTRATE COURT,KOLLAM
EXHIBIT P2 THE TRUE COPY OF THE NOTICE ISSUED BY THE
ADVOCATE COMMISSIONER.