Partly allowed

G.Vimalakumari v. State Bank of India

Kerala HC2 Feb 2021WP(C)/2528/2021

Case brief

AI extract

What is this about?

The High Court fixed a directive for the petitioner to clear overdue loan amounts in seven monthly instalments commencing 15.02.2021. Upon compliance, the bank was ordered to keep SARFAESI Act proceedings in abeyance, though a single default would permit resumption of coercive action. The writ petition was disposed of accordingly.

What did the court decide?

Petitioner directed to pay overdue loan in seven instalments commencing 15.02.2021 plus regular EMIs; if complied, bank to keep SARFAESI Act action in abeyance; single default permits resumption of re

G.Vimalakumari Vs State Bank of India — Contract and Commercial Disputes | Kerala HC (2021)

¶1

IN THE HIGH COURT OF KERALA AT ERNAKULAM

¶2

PRESENT

¶3

THE HONOURABLE MR. JUSTICE A.M.BADAR

¶4

TUESDAY, THE 02ND DAY OF FEBRUARY 2021 / 13TH MAGHA,1942

¶5

WP(C).No.2528 OF 2021(M)

¶6

PETITIONER/S:

¶7

G.VIMALAKUMARI, AGED 53 YEARS D/O.VELAYUDHAN, THADATHIL CHARUVILA VEEDU, MALACKAL P.O., KILIMANOOR, THIRUVANANTHAPURAM DISTRICT.

¶8

BY ADV. SRI.LATHEESH SEBASTIAN

¶9

RESPONDENT/S:

¶10

1 STATE BANK OF INDIA REPRESENTED BY THE REGIONAL MANAGER, REGIONAL OFFICE, THIRUVANANTHAPURAM-695001.

¶11

2 THE AUTHORIZED OFFICER, UNDER THE SARFAESI ACT, STATE BANK OF INDIA, RASMEC-IV BANK, HOUSING BOARD BUILDING, SANTHI NAGAR, THIRUVANANTHAPURAM-695001.

¶12

3 THE BRANCH MANAGER, STATE BANK OF INDIA, MADAVOOR BRANCH, MADAVOOR, THIRUVANANTHAPURAM DISTRICT-695602.

¶13

SRI.R S KALKURA --SC FOR BANK

¶14

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

¶15

WP(C).No.2528 OF 2021 2

¶16

JUDGMENT

¶17

Dated this the 2nd day of February 2021

¶18

Heard both sides.

¶19

Learned counsel appearing for the petitioner submits that

¶20

the petitioner along with her son availed a housing loan from the respondent bank and she defaulted the loan instalments due to financial crunch. Learned counsel further submitted that the petitioner is not challenging the action taken under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act (hereinafter referred to as 'the SARFAESI Act'), but wants to repay the entire overdue amount of loan in instalments.

¶21

Learned Standing Counsel appearing for the respondent bank submits that the term of loan is for twenty years and loan was taken in the year 2010. Therefore, if the petitioner clears of the entire overdue amount in suitable instalments, necessary order can be passed in that regard.

¶22

Having considered the submissions so advanced, the writ petition is disposed of with the following directions:-

¶23

The petitioner is directed to pay the entire overdue amount of

¶24

WP(C).No.2528 OF 2021 3

¶25

loan in seven equated monthly instalments commencing from 15.02.2021, apart from continuing to pay regular EMIs. If the petitioner follows this direction, the respondent bank shall keep the action taken under the SARFAESI Act in abeyance. In case of single default, the respondent bank is permitted to continue with the coercive action for recovery of the loan amount. Needless to mention that no extension of time for compliance of this order shall be granted.

¶26

The writ petition is accordingly disposed of.

Sd/-

A.M.BADAR

JUDGE

ajt

WP(C).No.2528 OF 2021 4

¶32

APPENDIX

¶33

PETITIONER'S/S EXHIBITS:

¶34

EXHIBIT P1 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 19.01.2021 THE PETITIONER. EXHIBIT P2 TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER BEFORE THE 3RD RESPONDENT DATED 21.01.2021.

G.Vimalakumari v. State Bank of India

Case brief

What is this about?

What did the court decide?

G.Vimalakumari v. State Bank of India

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

V.J.Sabu Vs the Authorised Officer

Usha.S Vs the Authorised Officer

Ceat Limited Vs State of Kerala

Hash Constructions Vs the Deputy Commissioner

Yousaf Haji Parancheri Vs Regional Passport Officer

Akash Vs the Branch Manager,Kerala State Co-Operative Bank (Erstwhile Thrissur District Co-Operative Bank)