Allowed

Mr.Sankara Narayanan P.A v. Bank of Baroda

Kerala HC8 Dec 2017WA/2445/2017

Case brief

AI extract

What is this about?

This writ appeal challenged recovery proceedings under the SARFAESI Act for an education loan. Declaring the appellant as a defaulter but noting his new employment, the court permitted payment of the liability in instalments instead of continuing aggressive recovery steps.

What did the court decide?

The appellant was permitted to discharge the liability in instalments of Rs. 50,000/- per month; recovery proceedings were stayed conditionally.

Mr.Sankara Narayanan P.A Vs Bank of Baroda — Education and Admissions | Kerala HC (2017)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT:

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THE HONOURABLE THE ACTING CHIEF JUSTICE MR.ANTONY DOMINIC &

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THE HONOURABLE MR. JUSTICE DAMA SESHADRI NAIDU

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FRIDAY, THE 8TH DAY OF DECEMBER 2017/17TH AGRAHAYANA, 1939 WA.No. 2445 of 2017 () IN WP(C).34436/2017 --------------------------------------------

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AGAINST THE JUDGMENT IN WP(C) 34436/2017 DATED 13-11-2017

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APPELLANT(S)/PETITIONER:

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MR.SANKARA NARAYANAN P.A AGED 64, S/O AYYAPPAN, PARAPPURATH HOUSE, PERAMANGALAM P.O., THRISSUR-680 545.

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BY ADV. SRI.P.V.GEORGE(PUTHIYIDAM)

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RESPONDENT(S)/RESPONDENTS:

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1. BANK OF BARODA REPRESENTED BY BRANCH MANAGER, PERAMANGALAM BRANCH, ST. MARY'S CHURCH COMPOUND, PERAMANGALAM P.O., THRISSUR-680 545.

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2. AUTHORIZED OFFICER

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BANK OF BARODA, ST. MARY'S CHURCH COMPOUND, PERAMANGALAM P.O., THRISSUR-680 545.

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BY SMT.R.REMA, STANDING COUNSEL, BANK OF BARODA

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THIS WRIT APPEAL HAVING COME UP FOR ADMISSION ON 08-12-2017, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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sou.

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Antony Dominic, Ag.CJ & Dama Seshadri Naidu, J -------------------------------------------------------------W.A. No. 2445 of 2017

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Dated this the 8^th day of December, 2017

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J U D G M E N T

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Antony Dominic, Ag.CJ

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Heard the counsel for the appellant and the learned counsel appearing for the respondent.

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Appellant filed the writ petition challenging the recovery proceedings initiated by the Bank under the SARFAESI Act for realisation of its dues under an education loan. However, the writ petition was dismissed mainly on account of the fault of the appellant in not complying with the interim order passed by the learned Single Judge. It is this judgment, which is impugned before us.

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Although several contentions on the merits of the matter were urged by the counsel for the appellant, having regard to the admitted position that the appellant is a defaulter of his liability, we cannot find fault with the action of the Bank in proceeding to recover its dues. However, taking note of the fact that the loan in question is an education loan and the appellant

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W.A.2445/17

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has now obtained an employment, we are inclined to think that the appellant should be afforded an opportunity to clear off the liability in instalments.

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In such circumstances, we permit the appellant to discharge the liability in instalments of Rs.50,000/- per month as undertaken by him. The first instalment shall be paid on or before 5.1.2018 and the subsequent instalments shall be paid on the 5^th of every succeeding months. If payment is made as above, recovery steps will not be continued and if default is committed in paying any one of the instalments, the Bank will be free to continue with the recovery proceedings already initiated.

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With these directions, we dispose of the writ appeal.

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Sd/Antony Dominic, Acting Chief Justice

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Sd/Dama Seshadri Naidu, Judge

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sou.8/12.

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// True copy //

Mr.Sankara Narayanan P.A v. Bank of Baroda

Case brief

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Mr.Sankara Narayanan P.A v. Bank of Baroda

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