Subhash M.P. and Smt. Aswathy R v The Branch Manager, Indian Bank, Polayathode Branch & The Authorized Officer/ AGM, Indian Bank, Kollam

## `IN THE HIGH COURT OF KERALA AT ERNAKULAM` ## `PRESENT` ``` THE HONOURABLE MR.JUSTICE C.S.DIAS ``` ``` TUESDAY, THE 11[TH] DAY OF JULY 2023 / 20TH ASHADHA, 1945 ``` ## `WP(C) NO. 18896 OF 2023` ## `PETITIONERS:` ``` 1SUBHASH.M.P, AGED 49 YEARS S/O. PURUSHOTHAMAN, MANIVELIL, CONTONMENT NORTH NAGAR, CHINNAKKADA, KOLLAM-691001. 2SMT. ASWATHY.R, AGED 40 YEARS W/O. SUBHASH.M.P, MANIVELIL, CONTONMENT NORTH NAGAR, CHINNAKKADA, KOLLAM-691021., PIN - 691001 BY ADVS. GOPAKUMAR R.THALIYAL S.VENUGOPAL ``` ## `RESPONDENTS:` ``` 1THE BRANCH MANAGER, INDIAN BANK, POLAYATHODE BRANCH, POLAYATHODE, KOLLAM-691021. 2THE AUTHORISED OFFICER/AGM, INDIAN BANK, KOLLAM,PIN - 691001 ``` ## `SRI S EASWARAN` ``` THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ALONG WITH WPC NO.18893/2023 ON 11.07.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ``` ## `IN THE HIGH COURT OF KERALA AT ERNAKULAM` ## `PRESENT` ``` THE HONOURABLE MR.JUSTICE C.S.DIAS ``` ``` TUESDAY, THE 11[TH] DAY OF JULY 2023 / 20TH ASHADHA, 1945 ``` ## `WP(C) NO. 18893 OF 2023` ## `PETITIONERS:` ``` 1SUBHASH.M.P, AGED 49 YEARS S/O. PURUSHOTHAMAN, MANIVELIL, CONTONMENT NORTH NAGAR, CHINNAKKADA, KOLLAM, PIN - 691001 2SMT. ASWATHY.R, AGED 40 YEARS W/O. SUBHASH.M.P, MANIVELIL, CONTONMENT NORTH NAGAR, CHINNAKKADA, KOLLAM, PIN - 691001 BY ADVS. GOPAKUMAR R.THALIYAL S.VENUGOPAL ``` ## `RESPONDENTS:` ``` 1THE BRANCH MANAGER, INDIAN BANK, POLAYATHODE BRANCH, POLAYATHODE, KOLLAM-691021. 2THE AUTHORISED OFFICER/AGM, INDIAN BANK, KOLLAM, PIN - 691001 ``` ## `SRI S EASWARAN` ``` THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ALONG WITH WPC NO.18896/2023 ON 11.07.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: ``` ``` WPC No.18896 & 18893 of 2023 ``` ``` 3 ``` ## C.S.DIAS, J. `-------------------------------` W.P.(C.) No.18896 & 18893 of 2023 `-------------------------------` Dated this the 11[th] day of July, 2023 ## COMMON JUDGMENT As the parties are the same and the dispute is pertaining to the repayment of loan amounts borrowed by the petitioners, the writ petitions are being disposed of by this common judgment. 2. The writ petitions are filed, inter alia, to direct the respondents to permit the petitioners to pay the outstanding amounts in instalments and close the loan accounts. 3. The common case of the petitioners in the writ petitions is that, they had availed financial assistance from the first respondent bank by creating an equitable mortgage by deposit of title deeds. Due to reasons beyond their control, they ``` WPC No.18896 & 18893 of 2023 ``` ``` 4 ``` could not pay the instalments on time. The bank has now proceeded against the secured asset under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (in short, ‘Act’). The petitioners are willing to pay the outstanding amount in instalments and close the loan accounts. Hence, the writ petition. 4. Heard; Sri.Gopakumar R. Thaliyal, the learned Counsel appearing for the petitioners and Sri. S.Easwaran, the learned Counsel appearing for the respondents. 5. Sri. S.Easwaran, on instructions, submitted that the petitioners had availed five loans from the first respondent bank. The total outstanding amount as on today is Rs.14.843/- Crore. The overdue amount is Rs.1.5/- Crore. Due to the enormous outstanding amount, the first respondent is not willing to extend any ``` WPC No.18896 & 18893 of 2023 ``` ``` 5 ``` instalment facility to the petitioners. The petitioners may be relegated to exhaust their statutory remedies. 6. The Hon’ble Supreme Court in South Indian Bank Ltd vs. Naveen Mathew Philip (2023 LiveLaw (SC) 320) , after adverting to a myriad of earlier judicial pronouncements rendered under the Act, has categorically declared that High Courts shall not, unless in extra ordinary circumstances, interfere with proceedings initiated under the Act, in writ proceedings under Article 226 of the Constitution of India. 7. Having considered the pleadings and materials on record and after appreciating the rival submissions across the Bar, I do not find any extraordinary circumstances made out to entertain the writ petitions by exercising the ``` WPC No.18896 & 18893 of 2023 ``` ``` 6 ``` plenary powers of this Court under Article 226 of the Constitution of India. Nonetheless, it will be upto the petitioners to either submit a concrete proposal before the first respondent bank to avail the One Time Settlement Scheme or exhaust their statutory remedies, in accordance with law. Resultantly, the writ petitions are dismissed without prejudice to the right of the petitioners to work out their remedies, in accordance with law. Sd/- C. S. DIAS JUDGE SKP/11-07 ``` WPC No.18896 & 18893 of 2023 ``` ``` 7 ``` ## `APPENDIX OF WP(C) 18893/2023` ``` PETITIONERS’ EXHIBITS: EXHIBIT P1TRUE COPY OF THE NOTICE DATED 11.04.2023 ISSUED BY THE 2ND RESPONDENT ``` ``` RESPONDENTS' EXHIBITS:NIL ``` ``` WPC No.18896 & 18893 of 2023 ``` ``` 8 ``` ## `APPENDIX OF WP(C) 18896/2023` ``` PETITIONERS’ EXHIBITS: EXHIBIT P1TRUE COPY OF THE NOTICE DATED 11.04.2023 ISSUED BY THE 2ND RESPONDENT ``` ``` RESPONDENTS' EXHIBITS:NIL ``` ``` TRUE COPY ``` ``` P.A.TO JUDGE ```