S. V. VENUGOPAL Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) In Writ Petition No.25717/2022, the challenge is to the coercive proceedings of recovery of loan initiated under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Ordinarily, such writ petitions are not entertained in view of a catena of decisions of the Hon'ble Apex Court. However, to ensure that no injustice is caused to the prompt borrowers, the writ petitions are being entertained with limited interference and subject to borrowers showing bona fide by making payment of certain instalments which are stipulated as a precondition for the grant of retrieve . Where these conditions are not complied with, it becomes an added point to deny relief to the borrower, in constitutional jurisdiction.

(2.) A Co-ordinate Bench of this Court vide order dtd. 22/12/2022 had said as under:

(3.) The Co-ordinate Bench had granted time up to 15/1/2023 for making the re-payment acting on the submission of learned counsel for the petitioner. However, only a small payment of Rs.22,00,000.00 (Rupees Twenty two Lakh) only has been paid as against outstanding of Rs.1,09,01,892.00 (Rupees One Crore nine lakhs one thousand eight hundred ninety two) only.