Orissa High Court
Bhagabat Prasad Bhatta vs Bank Of Maharastra on 19 May, 2023
Author: S.K. Panigrahi
Bench: S.K. Panigrahi
IN THE HIGH COURT OF ORISSA AT CUTTACK
W.P.(C) No.15540 of 2023
Bhagabat Prasad Bhatta .... Petitioner
Mr. Kousik Ananda Guru, Adv.
-versus-
Bank of Maharastra, .... Opposite Parties
Bhubaneswar Branch,
Bhubaneswar
CORAM:
DR. JUSTICE S.K. PANIGRAHI
Order ORDER
No. 19.05.2023
01. 1. This matter is taken up through a hybrid
arrangement.
2. Heard.
3. The Petitioner has filed the present Writ Petition seeking a direction of this Court to the Opposite Party/ Bank to receive the current EMIs and to fix instalments for the outstanding EMIs.
4. Learned counsel for the Petitioner submits that the Petitioner has availed a house loan of Rs.1.00 crore from the Opposite Party/ Bank. The loan is to repay with monthly installment @ EMI of Rs.87,100/- per month. The total loan amount was to be repaid in 240 monthly Signature Not Verified Digitally Signed Signed by: LINGARAJ BEHERA Page 1 of 4 Reason: Authentication Location: ohccuttack Date: 22-May-2023 11:45:15 // 2 // installments. The 1st monthly instalment was started from September, 2019. Accordingly, the Petitioner executed an Agreement for Housing Loan with the Opposite Party/ Bank. He further submits that to avail the house loan, the petitioner created an equitable mortgage in favour of the bank for the land situated at mouza Bhubaneswar Sahara Unit No.20, Jagamara bearing Khata No.1133/3193 having the plot No.308/2407 for an area of Ac.0.070 decimal along with a building. It is also submitted that the petitioner further availed personal loan of Rs.3.00 Lakhs on 09.12.2020 and in order to avail such personal loan, the petitioner executed an agreement on 09.12.2020. He further submits that the petitioner was paying the monthly installments till the initial period of Covid-19 Lock Down. During the total lock down, the petitioner availed the moratorium period. During the moratorium period, though the petitioner was exempted from payment of regular EMI, but the Bank was entitled for interest. The bank has calculated a sum of Rs.21,10,924/- as interest amount during Covid-19 moratorium period. The petitioner has paid a sum of Rs.5,85,953/- during the Covid-19 period which has been adjusted towards the interest.
5. Learned counsel for the Petitioner further submits that the petitioner is a defaulter of 15 EMIs which includes Signature Not Verified Digitally Signed Signed by: LINGARAJ BEHERA Page 2 of 4 Reason: Authentication Location: ohccuttack Date: 22-May-2023 11:45:15 // 3 // Covid-19 moratorium period. So, the total outstanding amount comes to Rs.13,06,500/-. Out of which the petitioner has already paid Rs.70,6000/- as on date. So, the balance amount of Rs.60,00,000/- is to be paid as principal amount. But, after Covid-19 moratorium period, the Opposite Party/Bank has refreshed the instalments which include the interest during the moratorium period. Accordingly, the total principal amount calculated to be Rs.1,19,34,23/-. This amount is to be paid in 230 monthly installments of Rs.1,12,000/- per month. The account of the petitioner has been declared as NPA on 14.01.2023.
6. It is also submitted that as on date, the petitioner is a defaulter of EMI amounting to Rs.14,96000/-. In order to to regularize the account, the petitioner is ready and willing to pay the aforesaid amount on instalment basis along with the current dues. The petitioner has approached the bank authority for regularization of his account. But, the bank authority did not consider his request. Hence, the Petitioner is compelled to approach this Court.
7. In view of the above facts and circumstances, since the petitioner is ready and willing to pay the defaulter EMI, it is directed that the petitioner shall approach the Opposite Party/Bank with the entire default instalments Signature Not Verified Digitally Signed Signed by: LINGARAJ BEHERA Page 3 of 4 Reason: Authentication Location: ohccuttack Date: 22-May-2023 11:45:15 // 4 // amount and whatever fine usually fixed by the Bank along with a copy of this order for regularisation of his loan account. In such event, the Opposite Party/Bank shall consider the same and also consider the payment of the default amount on EMI and regularise his loan account as per law.
8. Accordingly, this Writ Petition is disposed of.
(Dr. S.K. Panigrahi) Judge LB Signature Not Verified Digitally Signed Signed by: LINGARAJ BEHERA Page 4 of 4 Reason: Authentication Location: ohccuttack Date: 22-May-2023 11:45:15