Kerala Bank Evicts 70-Year-Old Woman's Family, NRI Stranger Pays Off Loan To Save Their Home
A Kerala family faced distress when their home was sealed by Kerala State Cooperative Bank over an unpaid loan. NRI businessman Unnikrishnan Nair intervened, paying Rs 1,92,850 to unseal the house
A family from Parappachal in Kerala’s Kasargod district faced a distressing situation when their home was sealed by the Kerala State Cooperative Bank due to their inability to repay a loan taken for coconut farming. The family was away at the hospital for treatment when bank officials arrived for recovery proceedings.
Vijesh TP, the borrower, had taken a loan of Rs 2 lakh but had only managed to repay Rs 37,000. As a result, the bank pasted a court notice on the house and sealed it. Upon returning home at around 6 pm on Thursday, Vijesh, his 70-year-old mother Janaki, his wife Vijina, and their two children aged three and seven, were shocked to find their house sealed. Left with no other option, they spent the night in the courtyard, even setting up a makeshift kitchen.
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Fortunately, their plight was highlighted in a media report, which caught the attention of Unnikrishnan Nair, an NRI businessman from Cherthala in Alappuzha district.
Onmanorama reported that Unnikrishnan Nair, the founder and chairman of Mannath Group International, which operates in event management, hospitality, robotics, and finance in the UAE, transferred Rs 1,92,850 to Kerala Bank’s account and insisted on opening the house that very night. The bank complied and unsealed the house around 7 pm on Thursday, March 20.
Vijesh had initially taken the loan in 2013 to establish a coconut picking business. However, his plans were derailed in 2015 when he suffered a fall, fracturing his thigh bone, and leaving him unable to work. Neighbours raised funds for his surgery, which included a steel implant. Unable to do heavy labour, Vijesh began defaulting on the loan and had only been able to repay Rs 37,000. The debt increased to Rs 6.5 lakh. The bank offered a one-time settlement of Rs 2.85 lakh, but when the family couldn’t pay, it started attachment proceedings.
Following Nair’s intervention, the revenue officials withdrew the recovery proceedings, allowing the family to return to their home by Thursday evening. Expressing his heartfelt gratitude, Vijesh said, “We have no connection with Krishnankutty. Despite this, he helped us and saved my family."
According to the Onmanorama report, Vijesh T P expressed their relief by saying, “We are happy. Last night, sleeping outside, we felt like there was no one for us." He added, “We were saved by the news media. Journalism is about speaking up for people like us."
Vijesh’s wife, Vijina, said her heart broke when her mother-in-law and children cried after being locked out on Wednesday. The Kerala State Cooperative Bank, known as Kerala Bank, invoked the SARFAESI Act to seize their deteriorating three-bedroom, tiled-roof house.
Unnikrishnan Nair, who was in Alappuzha, saw Janaki’s story on TV. “I immediately tried to contact the bank. It took several calls before I was connected to the Deputy General Manager for debt recovery," he told Onmanorama. The DGM connected him to the branch manager, who quoted Rs 2.85 lakh as due.
“I asked for a discount. Luckily, Kerala Bank’s board was meeting in Thiruvananthapuram today, and they accepted my offer," he said. The bank agreed to settle for Rs 1,92,850 — the principal amount. “I transferred it immediately. My only request was that the family shouldn’t spend another night outside," he said.
Meanwhile, Kerala Bank faces criticism for ignoring the state government’s directive not to attach houses over loan defaults. On February 10, Chief Minister Pinarayi Vijayan told the Assembly: “As part of SARFAESI, banks are attaching houses, causing several issues. In this context, the cooperative sector should lead by example. Our stance is that when houses are pledged as collateral, banks should not seize them under normal circumstances. Families have the right to live in their homes. Banks must not take actions that render people homeless. We had taken this decision earlier, but now we will issue instructions to ensure it is strictly followed."
Fifteen days after this statement, Kerala Bank approached the Kasaragod Chief Judicial Magistrate seeking help to evict the family. Sabu Abraham, CPM leader and Kerala Bank director from Kasaragod, said that although the CM made the statement, the standing instruction issued to cooperative banks barred attachment of homes on three cents in urban areas and five cents in rural areas. Janaki’s house, he said, stood at 26 cents, and the attachment was for 16 cents, including the house.
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