Kerala High Court
Mahendra Kumar. K vs State Bank Of India on 27 March, 2024
Author: Devan Ramachandran
Bench: Devan Ramachandran
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
WEDNESDAY, THE 27TH DAY OF MARCH 2024 / 7TH CHAITHRA, 1946
WP(C) NO. 10278 OF 2024
PETITIONER:
MAHENDRA KUMAR K.
AGED 36 YEARS
S/O SUBRAMANIAN, RESIDING AT KURUPPATH HOUSE,
B P ANGADI, TALAKKAD, TIRUR, MALAPPURAM, KERALA,
PIN - 676102
BY ADVS.
PRATHAP. S.R.K.
ANN OLIVIA VALLAVANADAN
ARCHANA VINOD
ADWYTHA P.R.
RESPONDENTS:
1 STATE BANK OF INDIA
REPRESENTED BY ITS CHAIRPERSON, STATE BANK BHAVAN,
MADAM CAMAMARG, MUMBAI, PIN - 400021
2 THE REGIONAL MANAGER
STATE BANK OF INDIA, THAMPANOOR, THIRUVANANTHAPURAM,
KERALA, PIN - 695014
3 THE AUTHORISED OFFICER
STATE BANK OF INDIA, RETAIL ASSETS CENTRALISED
PROCESSING CENTRE, 1ST FLOOR, STATE BANK BHAVAN,
MANANCHIRA, KOZHIKODE, KERALA, PIN - 673001
4 THE BRANCH MANAGER,
STATE BANK OF INDIA, PALAYAM BRANCH, UDUPPI BUILDINGS,
MM ALI ROAD, PALAYAM, KOZHIKODE, KERALA, PIN - 673002
5 THE STATION HOUSE OFFICER
TIRUR POLICE STATION, TIRUR, MALAPPURAM,
KERALA, PIN - 676101
BY ADVS.
Ambily S
RUPA R. NAIR(K/001021/2023)
MATHEW JOSEPH BALUMMEL(K/001219/2019)
K.K.CHANDRAN PILLAI (SR.)(C-41)
SMT S.AMBILY-SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
27.03.2024, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 10278 OF 2024 2
JUDGMENT
When this matter was called today, Smt.S.Ambily - learned Standing Counsel for the respondent - Bank, submitted that, the overdues in the loan account of the petitioner, as on 27.03.2024, is Rs.1,80,000/-; and that if he is willing to pay the same in not more than 5 equal monthly installments, the account can be regularized.
2. Sri.Prathap S.R.K. - learned counsel for the petitioner, fully agreed to the afore and prayed that this writ petition be thus ordered.
In the afore circumstances, I allow this writ petition, granting liberty to the petitioner to pay the overdue amount in the loan account, namely, Rs.1,80,000/- as on 27.03.2024, in 5 equal monthly instalments commencing from 27.04.2024. He shall also, in addition to this, pay the regular EMIs without fail and if this is done, the account will stand regularized.
Needless to say, on payment of at least three instalments as afore, the vehicle now repossessed by the respondent - Bank will be returned to the petitioner; however, on condition that he will not transfer it, alienate it or cause any damage to it during the term of the loan.
It goes without saying that as long as the petitioner pays as per the above directions, all further action pursuant to Ext.P5 will stand deferred; but if he defaults payment of two consecutive installments as WP(C) NO. 10278 OF 2024 3 ordered above, the respondent - Bank will be at full liberty to recover the entire liability from the petitioner, by continuing with further action as per the loan agreement without having to obtain any further orders from this Court.
Sd/-
DEVAN RAMACHANDRAN JUDGE MC/1.4 WP(C) NO. 10278 OF 2024 4 APPENDIX OF WP(C) 10278/2024 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE REGISTRATION CERTIFICATE BEARING REGISTRATION NO. KA 51 MV 3472 ISSUED BY THE REGISTERING AUTHORITY, E CITY, BANGALORE Exhibit P2 A TRUE COPY OF THE TRANSACTION DETAILS MADE ON 19.01.2024 Exhibit P3 A TRUE COPY OF THE TRANSACTION DETAILS MADE ON 21.01.2024 BY THE PETITIONER TO LOAN ACCOUNT Exhibit P4 A TRUE COPY OF THE COMPLAINT DATED 27.02.2024 PREFERRED BY THE PETITIONER BEFORE THE STATION HOUSE OFFICER ALONG WITH RECEIPT NO. 15295037-2024-5-00235 DATED 29.02.2024 Exhibit P5 A TRUE COPY OF THE LETTER BEARING NO.
RACPC/SARC/2023-24/CL/TN-401 DATED 29.02.2024 ISSUED BY THE 3RD RESPONDENT Exhibit P6 A TRUE COPY OF THE GUIDELINES FOR FAIR PRACTICES CODE FOR LENDERS" ISSUED BY THE RESERVE BANK OF INDIA