Asif P.A. vs. The Authorized Officer - Kerala High Court, 29 November 2019

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE S.V.BHATTI FRIDAY, THE 29TH DAY OF NOVEMBER 2019 / 8TH AGRAHAYANA, 1941 WP(C).No.31709 OF 2019(K) PETITIONER/S: ASIF P.A. AGED 34 YEARS SON OF SHRI.P.K.ALIYAR,RESIDING AT PUTHUKATTIL HOUSE,MARI P.O, PAIPRA, MUVATTUPUZHA-686673. BY ADVS. SRI.ANIL S.RAJ SMT.K.N.RAJANI SRI.SAJEN THAMPAN RESPONDENT/S: THE AUTHORIZED OFFICER STATE BANK OF INDIA,PAIPRA ADB, P.B.NO.1,AL SHIFA HOSPITAL BUILDING,PEZHAKKAPPILLY P.O, 686673. SC JITESH MENON THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 29.11.2019, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

WP(C).No.31709 OF 2019 -2- JUDGMENT Heard Adv.Anil S. Raj for petitioner and Adv.Jithesh Menon, Standing Counsel for respondent-Bank.

The petitioner prays for the following reliefs:- I) A writ, order or direction in the nature of Mandamus, or such other writ, order or direction, directing the respondent to exclude penal interest and all extra and permit the petitioner to settle the account by offering him a one-time settlement. ii) Such other appropriate writ, order or direction sought for in the course of the proceedings. iii) Direct the respondents to pay costs of the above proceedings.”

The petitioner states that the petitioner in spite of adverse market conditions and insufficient cash flow; is interested in clearing the loan account. For the said purpose the petitioner seeks indulgence of this Court to grant reasonable time to clear the outstanding amount.

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Adv.Jithesh Menon, appearing for respondent submits that the writ petition is filed without making such request before the respondent Bank. The petitioner, if proves bona fides in clearing the outstanding amount, the Bank has no difficulty in considering the request of petitioner. It is argued that the instalments are agreed terms between the parties under the loan agreement and are binding unless otherwise changed on mutually agreed terms. In exceptional circumstances, this Court can grant additional instalments or reschedule the agreed instalments. But the case on hand does not present such exceptional circumstances. The petitioner, if proves bona fides, the respondent Bank would certainly consider the request of petitioner for granting or rescheduling the instalments.

The submissions made by the learned counsel are noted. The petitioner, since is not pressing the writ prayers, this Court is not proposing to examine the objection raised by respondent, namely substituting instalments in the place of

WP(C).No.31709 OF 2019 -4- already agreed instalments or change time schedule in exercising its juri iction under Article 226 of the Constitution. Keeping in perspective the stand of the Standing Counsel appearing for the respondent Bank and to meet the ends of justice, I am satisfied that the Writ Petition can be disposed of by this order. (a) The petitioner is given liberty to request, within two weeks from today, the respondent Bank by enclosing a copy of this judgment, for granting instalments/time for payment of the outstanding amount. (b) The petitioner is directed to deposit Rs.10,00,000/- (Rupees Ten lakhs only) on or before 16.12.2019. (c) Upon the petitioner complying with the said conditions, the respondent Bank considers the request of petitioner for granting instalments/time as may be warranted in this behalf. (d) The instalments so facilitated by the respondent Bank, it is needless to observe, shall be independent of other

WP(C).No.31709 OF 2019 -5- obligation under the loan agreement. (e) A decision on the request is taken and communicated to petitioner within four weeks from today. (f) The respondent is directed not to take coercive steps for four weeks from today subject to petitioner complying with the above direction for. (g) The petitioner if fails to comply with the condition of depositing Rs.10,00,000/-(Rupees Ten lakhs only), the respondent bank is free to proceed in accordance with law. S.V.BHATTI JUDGE JS

WP(C).No.31709 OF 2019 -6- APPENDIX PETITIONER'S/S EXHIBITS: EXHIBIT P1OF STATEMENT OF ACCOUNT DATED 21.11.2019 EXHIBIT P2OF NOTICE ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER DATED 8.11.2019 EXHIBIT P3OF GST INVOICE BEARING INVOICE NO.87 DATED 15.04.2019.