Judgment
IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P.
TUESDAY, THE 18TH DAY OF OCTOBER 2022 / 26TH ASWINA, 1944 WP(C) NO. 25515 OF 2022 PETITIONERS:
1 LATHEEFA BEEVI AGED 72 YEARS W/O.LATE MUHAMMED MUSTHAFA, PROPRIETOR, PUTHUVEETTIL SAW MILL, KILIKOLLUR, KOLLAM, RESIDING AT PUTHENVEEDU, T.K.M.C. P.O., KOLLAM., PIN - 691005 2 M.SAHIRSHA AGED 56 YEARS S/O.LATE MUHAMMED MUSTHAFA, PUTHENVEEDU, T.K.M.C. P.O, KOLLAM, PIN - 691005 BY ADVS.
B.MOHANLAL ABIJITH M.
RESPONDENTS:
1 THE CHIEF MANAGER AND AUTHORIZED OFFICER STATE BANK OF INDIA, RASMEC, LOTUS TOWER, PULAMON, KOTTARAKKARA, KOLLAM., PIN - 691531 2 THE BRANCH MANAGER, STATE BANK OF INDIA POOYAPPALLY BRANCH, POOYAPPALLY P.O., KOTTARAKKARA,KOLLAM, PIN - 691537 BY ADV SRI.R.S.KALKURA, SC, SBI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18.10.2022, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WPC No.25515 of 2022 2 JUDGMENT Dated this the 18th day of October, 2022 Petitioners have approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (hereinafter referred to as the SARFAESI Act) for recovery of the amounts due upon a cash credit availed by the petitioner.
2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the outstanding amount in installments.
3. It was submitted on behalf of the respondent bank that the petitioners committed default in repayment and the outstanding amount is Rs.29,81,048/- (Rupees Twenty nine lakh eighty one thousand forty eight only) as on 09.08.2022. It was further submitted that though proceedings for recovery have been initiated, as a matter of
WPC No.25515 of 2022 3 indulgence, the respondent bank is willing to accept repayment of the outstanding amount in limited instalments.
4. I have heard the learned counsel for the petitioners as well as the learned Standing Counsel for the respondents.
5. Having regard to the circumstances of the case and the situation now prevailing, apart from the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the outstanding amount in fifteen (15) instalments.
6. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.29,81,048/- (Rupees Twenty nine lakh eighty one thousand forty eight only) along with bank charges from the petitioners on the following conditions:
(i) The outstanding amount of Rs.29,81,048/-
WPC No.25515 of 2022 4 (Rupees Twenty nine lakh eighty one thousand forty eight only) together with any accrued interest/costs shall be repaid in fifteen (15) equated monthly installments;
(ii) The first installment shall be paid on or before 07.11.2022 and subsequent installments shall be paid on or before 07th of every succeeding month;
(iii) In the event of default of any one installment, the respondent bank shall be entitled to proceed in accordance with law;
(iv) In order to enable the petitioners to repay the entire amounts, all coercive proceedings shall be kept in abeyance;
The writ petition is disposed of as above.
Sd/- GOPINATH P.
JUDGE SKP/18-10
WPC No.25515 of 2022 5 APPENDIX OF WP(C) 25515/2022 PETITIONERS' EXHIBITS:
EXHIBIT P1 THE TRUE COPY OF THE GST REGISTRATION CERTIFICATE NO:32ACEPL7926Q1Z3 DATED 17/01/2018 ISSUED BY THE GOVERNMENT OF INDIA TO THE 1ST PETITIONER EXHIBIT P2 THE TRUE COPY OF THE RECEIPT NO:1210005851/C020100 DATED 26/03/2022 ISSUED BY THE SECRETARY, KOLLAM CORPORATION EVIDENCING THE PAYMENT OF FEE FOR RENEWAL OF THE LICENSE IN FAVOUR OF THE 1ST PETITIONER EXHIBIT P3 THE TRUE COPY OF THE CONSENT NO:PCB/KO/CTO/R4/491/2019 DATED 01/01/2020 ISSUED BY THE ENVIRONMENTAL ENGINEER, KERALA STATE POLLUTION CONTROL BOARD, KOLLAM TO THE 1ST PETITIONER.
EXHIBIT P4 THE TRUE COPY OF THE STATEMENTS OF ACCOUNTS OF THE LOAN OF THE 1ST PETITIONER OBTAINED FROM THE 2ND RESPONDENT.
EXHIBIT P5 THE TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER SMT.PARVATHY, KOLLAM TO THE PETITIONERS AS PER THE ORDER OF THE CHIEF JUDICIAL MAGISTRATE COURT, KOLLAM IN M.C.NO:207/2022 EXHIBIT P6 THE TRUE COPY OF THE MARRIAGE INVITATION CARD OF THE 2ND PETITIONER'S DAUGHTER PROPOSED TO CONDUCT THE MARRIAGE ON 25/09/2022 RESPONDENTS' EXHIBITS:NIL TRUE COPY P.A.TO JUDGE