Allowed

Raji R.Nair v. the Manager, State Bank of India

Kerala HC18 Dec 2014WP(C)/29352/2014

Case brief

AI extract

What is this about?

Petitioners sought suspension of recovery proceedings under the SARFAESI Act for outstanding education loans. The Court granted a stay contingent upon clearing the debt in twelve equal monthly installments, with relief withdrawn upon default.

What did the court decide?

Recovery proceedings suspended; petitioners directed to pay outstanding amount in twelve equal monthly installments by 15th of each succeeding month starting Jan 15, 2015.

Raji R.Nair Vs the Manager, State Bank of India — Banking and Recovery | Kerala HC (2014)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT:

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THE HONOURABLE MR.JUSTICE P.R.RAMACHANDRA MENON

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THURSDAY, THE 18TH DAY OF DECEMBER 2014/27TH AGRAHAYANA, 1936

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WP(C).No. 29352 of 2014 (T)

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PETITIONER(S):

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1. RAJI R. NAIR,

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RENJU NIVAS, KIZHATHADIYOOR P.O., MONNANI, PALA - 686 575.

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2. RAMACHANDRAN NAIR, RENJU NIVAS, KIZHATHADIYOOR P.O., MONNANI,

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PALA - 686 575.

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BY ADV. SRI.K.V.GOPINATHAN NAIR

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RESPONDENT(S):

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--------------------------

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1. THE MANAGER, STATE BANK OF INDIA, PALA - 686 575.

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2. DEPUTY TAHSILDAR,

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REVENUE RECOVERY OFFICE, PALA - 686 575.

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R1 BY ADV. SRI.M.JITHESH MENON R2 BY SENIOR GOVERNMENT PLEADER SRI.P.FAZIL

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THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 18-12-2014, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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msv/

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WP(C).No. 29352 of 2014 (T)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXT.P1 : TRUE COPY OF THE CERTIFICATE OF REGISTRATION ISSUED BY THE KERALA NURSES MID-WIFE'S COUNCIL DT.26-10-2009.

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EXT.P2 : TRUE COPY OF THE CERTIFICATE ISSUED BY THE KARNATAKA STATE NURSING COUNCIL DT.4-6-2013.

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EXT.P3 : TRUE COPY OF THE LETTER ISSUED BY THE CHIEF MANAGER DT.25-9-2010.

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EXT.P4 : TRUE COPY OF THE STATEMENT OF ACCOUNT ISSUED BY THE BANK DT.20-9-2014.

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EXT.P5 : TRUE COPY OF DEMAND NOTICE ISSUED BY 2ND RESPONDENT DT.30-9-2014.

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RESPONDENT(S)' EXHIBITS:

NIL

//TRUE COPY//

P.S.TO JUDGE

Ms v/

P.R. RAMACHANDRA MENON, J.

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W.P.(C) No.29352 of 2014

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Dated this the 18^th day of December, 2014.

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JUDGMENT

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The petitioners availed two education loans (Rs.83,000/- + Rs.1,50,000/-) from the respondent Bank in connection with the study of the 1^st petitioner. Since repayment could not be effected, the Bank proceeded with steps under the SARFAESI Act, which made the petitioners to approach this Court by filing this writ petition.

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The learned counsel appearing for the respondent Bank submits that the outstanding liability as on 13.12.2014 is nearly Rs.2,63,271/- (Rupees Two lakhs sixty three thousand two hundred and seventy one only).

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The learned counsel for the petitioners submits that the default was never wilful, but because of some unforeseen circumstances and that steps are being taken to have the liability cleared, for which some breathing time is sought for.

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After hearing both the sides, the petitioners are directed to satisfy the entire amount by way of 'twelve' equal monthly

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W.P.(C) No.29352 of 2014

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instalments, the first of it shall be effected on or before the 15^th of January, 2015, followed by similar installments, to be effected on or before the 15^th of the succeeding months. Subject to this, the recovery proceedings shall be kept in abeyance, for the time being. It is made clear that, if any single default is committed with regard to the satisfaction of the entire amount as above, it will be open for the respondents to proceed with further steps for realization of the entire amount in lump, by pursuing such steps from the stage where it stands now.

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The writ petition is disposed of.

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P.R. RAMACHANDRA MENON,

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JUDGE

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Raji R.Nair v. the Manager, State Bank of India

Case brief

What is this about?

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Raji R.Nair v. the Manager, State Bank of India

Case brief

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