Disposed

Priya Maneshkumar v. State Bank of India SBI

Kerala HC6 Oct 2023WP(C)/15449/2023

Case brief

AI extract

What is this about?

The High Court allowed the petitioner to remit the outstanding loan of Rs. 44,80,584/- plus interest and charges in 6 equal monthly installments. Directions were issued to keep proceedings under the SARFAESI Act in abeyance during repayment.

What did the court decide?

Petitioner permitted to remit Rs. 44,80,584/- with interest in 6 equal monthly installments; SARFAESI proceedings kept in abeyance.

Priya Maneshkumar Vs State Bank of India SBI — Banking and Recovery | Kerala HC (2023)

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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 K. BABU

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FRIDAY, THE 6TH DAY OF OCTOBER 2023 / 14TH ASWINA, 1945

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WP(C) NO. 15449 OF 2023

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PETITIONER:

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PRIYA MANESHKUMAR
AGED 49 YEARS
W/O LATE MR. MANESHKUMAR E.S,
RESIDING AT URUPARAMBIL HOUSE, KAKASSERY P.O,
CHITTATUKARA, THRISSUR, PIN - 680511
BY ADVS.
M.R.HARIRAJ
VISWAJITH C.K
GISHA G. RAJ
REJIVUE K.C.
ALINA ANNA KOSE
VIDYA A.K
AKHILA S.
MEGNA MARIYAM M.
M.R.RAJENDRAN NAIR (SR.)

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RESPONDENTS:

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1STATE BANK OF INDIA SBI
ASSET RECOVERY MANAGEMENT BRANCH, 40/947 1ST FLOOR,
R.S BUILDING, METRO PILLAR NO. 697,
OPP. MAHARAJAS COLLEGE GROUND, MG ROAD,
ERNAKULAM, PIN - 682011
2THE BRANCH MANAGER
STATE BANK OF INDIA, A.R.M.B ERNAKULAM,
R S BUILDING, MG ROAD, KOCHI, PIN - 682011
3THE ASSISTANT GENERAL MANAGER
STRESSED ASSESTS RECOVERY BRANCH (SARB) (05182),
7TH FLOOR- VANKARATH TOWERS,
PALARIVATTOM BYPASS JUNCTION, ERNAKULAM,
PIN - 682024
4THE REGIONAL MANAGER
STATE BANK OF INDIA, ASSET RECOVERY MANAGEMENT BRANCH,

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W.P.(C) NO.15449 OF 2023

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40/947 1ST FLOOR, R.S BUILDING, METRO PILLAR NO. 697,
OPP. MAHARAJAS COLLEGE GROUND, MG ROAD, ERNAKULAM,
PIN - 682011

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5THE CHIEF GENERAL MANAGER
STRESSED ASSETS RESOLUTION GROUP CORPORATE CENTRE,
21ST FLOOR, MARKET TOWER 'E', CUFFE PARADE,
MUMBAI, PIN - 400005

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ADV.JITHESH MENON – STANDING COUNSEL

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
06.10.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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W.P.(C) NO.15449 OF 2023

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K.BABU, J.

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W.P.(C). No.15449 of 2023

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Dated this the 06^th day of October, 2023

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JUDGMENT

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The prayers in this Writ Petition are as follows:

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“(i) To call for the records leading to Exhibit P4 and to quash the same by the issuance of a writ of certiorari or other appropriate writ, order or direction;

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(ii) To direct the respondents to permit the petitioners to settle the outstanding loan amounts in installments before proceeding any further with Exhibit P4;

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(iii) grant such other relief as may be prayed for and the court may deem fit to grant, and

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(iv) grant the costs of this Writ Petition.”

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Heard both sides.

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Upon instructions, the learned counsel for the respondent Bank

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submitted that the total amount due to the bank is Rs. 44,80,584 /- as

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W.P.(C) NO.15449 OF 2023

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on today. The Bank is agreeable to permit the petitioner to remit the amount in 6 instalments. In the above circumstances, the Writ Petition is disposed of with the following directions:-

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(i) The petitioner shall remit the total amount of Rs. 44,80,584 /- together with any accrued interest and charges in 6 equal monthly instalments.

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(ii) The first instalment shall be paid on or before 31.10.2023 and the subsequent instalments shall be paid on the last working day of every succeeding month. (iii) The respondent Bank shall accept the loan amount from the petitioner as stated above.

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(iv) In the event of default of payment of any one instalment, the respondent Bank is entitled to proceed in accordance with law.

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(v) The proceedings initiated under the SARFAESI Act against the petitioner shall be kept in abeyance to facilitate repayment as stated above.

Sd/-

K.BABU

SMF

W.P.(C) NO.15449 OF 2023

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APPENDIX OF WP(C) 15449/2023

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PETITIONER EXHIBITS

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EXHIBIT P1A TRUE COPY OF THE DEATH CERTIFICATE NO.
D0090170-1304193 DATED 19/04/2013
EXHIBIT P2A TRUE COPY OF THE JUDGEMENT IN WP(C)
39751/2022 DATED 13/01/2023
EXHIBIT P3A TRUE COPY OF THE PAY IN SLIP DATED
13/03/2023
EXHIBIT P4A TRUE COPY OF THE NOTICE FOR TAKING
POSSESSION ALONG WITH THE ORDER OF THE
HONOURABLE CHIEF JUDICIAL MAGISTRATE COURT,
THRISSUR DATED 18/04/2023
EXHIBIT P5A TRUE COPY OF REPRESENTATION DATED
15/05/2023
EXHIBIT P6A TRUE COPY OF THE MINUTES OF THE HEARING
DATED 25/05/2023 ALONG WITH RETYPED COPY
EXHIBIT P7A TRUE COPY OF THE REPRESENTATION DATED
14/09/2023 SUBMITTED TO THE CHIEF GENERAL
MANAGER

Priya Maneshkumar v. State Bank of India SBI

Case brief

What is this about?

What did the court decide?

Priya Maneshkumar v. State Bank of India SBI

Case brief

What is this about?

What did the court decide?

What the court decided

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