GEORGE K V Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) The petitioner is aggrieved of the dismissal of the petition filed by him for condoning the delay in filing the statutory appeal before the DRAT, Chennai, challenging Ext. R1(a) final order passed by the DRT, Ernakulam in OA 942/99.

(2.) The case has got a long history. The petitioner availed a loan of Rs.10,00,000/- for construction of a building from the respondent Bank in September, 1996 and the due amount was liable to be repaid by way of 96 equal monthly instalments at the rate of 16,250/-. The terms and conditions in respect of the loan transaction were stipulated under Ext. P3 order sanctioning the loan. As per clause No. 8 of Ext. P3, the first instalment of the repayment was to start only after a period of 18 months. While so, just 1 1/2 years after the commencement of the repayment, the respondent Bank approached the DRT, Ernakulam by filing OA 942/99 for realisation of the entire outstanding liability, which was stated as Rs.12,87,000/-, despite the fact that, the petitioner had already effected a payment of Rs.6,70,000/- as evident from Ext. P4 statement of accounts issued by the Bank.

(3.) In response to the averments and allegations raised in Ext. P1 OA filed before the DRT, the petitioner filed written statement challenging the proceedings, particularly making a mention that the OA was only premature, as the amount had never become over due at any point of time. It was also pointed out that the apprehension of the Bank over the due amount was also out of place, particularly when the petitioner was having an 'FD account' in the very same Bank with sufficient amount to his credit.