LAWS(KER)-2019-3-238

RAMSHINA V.P. Vs. STATE OF KERALA

Decided On March 13, 2019
Ramshina V.P. Appellant
V/S
STATE OF KERALA Respondents

JUDGEMENT

(1.) Petitioner availed a loan from the 5 th respondent for an amount of Rs.1.5 lakhs under the educational loan scheme "PNB Vidyalakshyapurthi". Over and above the said amount, on 11.3.2009 an amount of Rs.32,800/- was also advanced to the petitioner for her educational purpose by the 5 th respondent bank. As per the terms of the scheme, the repayment for the loan amount will start only from the one year after the completion of the course or 6 months after getting the employment, whichever is earlier. There was also 1% reduction in the interest rate, if the amount is paid during the course period. According to the petitioner, there was certain declarations made by the Finance Minister during the financial year 2014-15 in the parliament with respect to the interest waiver to the educational loans. To put it short, repayment was defaulted, consequent to which revenue recovery action was initiated at the instance of the bank, and it is thus challenging the coercive action, this writ petition is filed.

(2.) When this writ petition was admitted to the files of this Court, interim order against coercive action was granted on condition that petitioner remits an amount of Rs.25,000/-, within one week from 14.1.2019 I am informed that the condition is complied with by the petitioner. Yet another vital contention advanced by the learned Counsel for the petitioner is that, no adjustment of subsidy is provided by the bank, which is entitled in educational loan matters. However, learned Counsel for the bank submitted that already the said amount is adjusted, which is clearly discernible from Ext.P2 statement of account provided by the bank.

(3.) A detailed counter affidavit is filed by the 5 th respondent, justifying the stand adopted by the bank, in view of the default on the part of the petitioner, in the matter of repayment in accordance with the terms of the agreement.