O R D E R

The amended relief sought for in the present writ petition is to quash the order of rejection passed by the Indian Bank in proceedings dated 13.05.2019 declining the request of the writ petitioner to grant of educational loan is under challenge.

2. The petitioner states that he had submitted a loan application on

05.12.2018 to approve a loan amount of Rs.1 Crore, stating that the petitioner has secured admission to M.B.B.S course in a Private Medical College under management quota. The petitioner requested the respondent / Bank to sanction loan and they have failed to do so. Thus, the present writ petition has been filed. During the pendency of the writ petition, the respondent / Bank considered the application submitted by the writ petitioner and rejected the same mainly on the ground that the petitioner has availed admission through management quota. It is further stated that at a total cost of Rs.105.75 Lakhs for pursuing the M.B.B.S Course, the probability of the Student earning as much to repay the loan after completion of his course very low. More so, the petitioner has secured 66.67% marks in the Higher Secondary Course.

3. The learned counsel for the petitioner mainly contended that the petitioner secured admission for M.B.B.S course in the Sri Balaji Medical College and Hospital and submitted loan application to sanction a sum of Rs.1 Crore. The petitioner being a bona fide student pursuing M.B.B.S course is eligible for educational loan and thus, the order impugned is liable to be quashed and direction issued to sanction educational loan.

4. The reasons stated by the respondents / Bank is that the petitioner secured admission to M.B.B.S course under the management quota. If at all the petitioner secured admission under Government quota, the Bank would be in a position to consider the case to pay the Government fees. As far as the claim of the writ petitioner to sanction Rs.1 Crore is concerned, the reason stated by the respondent that there is no probability of the student earning as much to re-pay the EMI after completion of the Course is very low. Grant of Educational Loan is to be made scrupulously with reference to the guidelines issued to the Nationalised Banks.

5. In the present case, the reason stated for the rejection of the educational Loan to the petitioner is acceptable and therefore, this Court is not inclined to interfere with the order passed by the respondent in proceedings dated 13.05.2019.

6. Accordingly, this Writ Petition stands dismissed. No costs.

Consequently, connected Miscellaneous Petition is closed.

02.01.2024 Jeni Index : Yes Speaking order Neutral Citation : Yes To

1.The General Manager, Indian Bank, CPPC, No.66, Rajaji Salai, Fourth Floor, Chennai – 600 001.

2.The Zonal Manager, North Zonal Office, Indian Bank Building, 5th Floor, 66 George Town, Rajaji Salai, Chennai – 600 001.

3.The Manager, Indian Bank, Ashok Nagar Branch, No.69, First Avenue, Ashok Nagar, Chennai – 600 083.

S.M.SUBRAMANIAM, J.

Jeni

02.01.2024