MEDISETTY KRISHNAVENI Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) This Writ Petition, under Article 226 of the Constitution of India, is filed by the petitioner, seeking the following relief:

(2.) It is the case of petitioner that she has availed car loan from the respondent No.3-bank vide Loan A/c.No.37443787307 on 29/12/2017 for a sum of Rs.35,50,000.00. It is further case of the petitioner that ever since she obtained loan, she has been regularly paying the instalments in terms of the agreement and only during the COVID-19 pandemic period, the instalments were irregular. During the COVID-19 pandemic period, the Reserve Bank of India (for short 'RBI') has imposed the Moratorium with regard to payment of loan amounts by postponing the same and as such she was unable to pay the amounts and subsequently as per the schedule, she has been complying with the terms and conditions of the loan agreement. It is also the case of the petitioner that the respondent No.3 without following the procedure, declared her account as NPA on 25/11/2023 and calculated the outstanding as Rs.11,74,173.53 paise as on 21/3/2024. It is further case of the petitioner that respondent No.3 has issued a notice dtd. 26/3/2024 for seizure of vehicle on the ground that EMI of Rs.57,387.00 for the month of February, 2024 due on 27/2/2024 was not remitted/paid resulting overdue of loan account and therefore, to regularise the loan account, respondent No.3 demanded to pay Rs.1,42,858.00. It is also case of the petitioner that pursuant to the said notice dtd. 26/3/2024, the respondent No.3 without following the guidelines of RBI, has been sending the loan recovery agents to her house and harassing to pay the amounts due as per the calculation of respondents.

(3.) The grievance of the petitioner is that the respondents are entitled to recover loan amount in terms of the loan agreement by following the procedure established under law and they are not having any right to recover the loan amount by using force.