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HIGH COURT OF KERALA
N. NAGARESH, J
RISMAL.K.P – Appellant
Versus
KERALA BANK – Respondent
| Table of Content |
|---|
| 1. borrower's inability to repay due to a pandemic. (Para 2 , 3 , 4) |
| 2. bank's rights to execute loans upon default. (Para 5 , 6 , 7) |
| 3. court's discretion in allowing time for repayment. (Para 9 , 10) |
| 4. formal conclusion on petitioners' repayment terms. (Para 11) |
J U D G M E N T
Dated this the 31st day of January, 2024 The petitioners have approached this Court aggrieved by the coercive proceedings for recovery of financial advance made by the Kerala State Co-operative Bank to the petitioners, invoking the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002.
2. The 1st petitioner had availed Personal Loan and a Housing Loan. The petitioners state that though the petitioners made remittances promptly during the initial repayment period of the financial advance, they could not pay the repayment instalments promptly later due to Covid-19 pandemic. The repayment of loans fell into arrears. It happened due to reasons beyond the control of the petitioners.
3. Though the petitioners requested the Bank to permit the petitioners to repay the overdue amounts in easy monthly instalments, the Bank authorities were
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