CHANDESHWAR PRASAD SINGH Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) This writ petition has been filed by the petitioner for the following reliefs:

(2.) Learned counsel for the petitioner claimed that petitioner's son took education loan from State Bank of India, Station Road, Ara, Bhojpur and for that purpose title deed of the property of petitioner's wife was given to the Bank. The said education loan of Rs.1,98,596.00 was advanced during the period from 2003-2006 and interest was paid to the Bank during the said period. It was also stated that petitioner's son passed his B.Tech. examination in June 2006 and got employment in HCL in September, 2007 and thereafter he started repayment of loan by instalments depositing Rs. 4,000.00 per month. It is also alleged that Personnel Banking Manager, State Bank of India, Station Road, Ara Branch in an arbitrary manner withdrew Rs. 5,500.00 from the saving account of the petitioner and deposited the same in the loan account of petitioner's son and when the petitioner went to enquire for the same he misbehaved with him, whereafter the premium for realisation of loan was enhanced from Rs. 4,000.00 to Rs. 4,868.00 per month and the interest was calculated at compound rate. It is also claimed that the petitioner has been filing representations before the authorities for redressal of his grievance in accordance with law, but they are not paying any heed to the same.

(3.) From the arguments of learned counsel for the parties as well as from the materials on record, it is quite apparent that education loan was taken by the petitioner and his son and the application dated 28.11.2003 (Annexure-A) for the loan was signed by both of them and the proposal for sanction of the said term loan was recommended by the recommending panel on 12.12.2003 (Annexure-B) and, accordingly, the loan was sanctioned and arrangement letter dated 12.12.2003 (Annexure-C) was issued by the State Bank of India which was received by the petitioner and his son, both accepting the terms and conditions thereof including terms and condition no. 4 for repayment of loan in equal monthly instalments in 84 months from commencement of repayment and the repayment will commence one year after completion of the course or after six months of getting a job whichever is earlier.