JUDGMENT

Dated this the 7^th day of January, 2025

Nitin Jamdar, C.J.

This Writ Appeal, under Section 5 of the Kerala High Court Act , 1958, challenges the judgment dated 10 December 2024 in W.P.(C) No.41833 of 2024, whereby the Respondents / Original Petitioners are granted an opportunity to repay the outstanding amount in six equated monthly instalments.

2. The Petitioners availed a KCC OD facility on 24 November 2019 ₹ for 30,00,000/- from the Ayur Branch of Appellant No.1 after securing it by creating an equitable mortgage of their properties. Due to the default made in its repayment, the account was classified as a Non-Performing Asset (NPA) on 20 March 2024. Thereafter, proceedings were initiated under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (SARFAESI Act) vide a demand notice dated 12 November 2024. Being aggrieved, the Respondents / Original Petitioners have preferred the writ petition.

3. Heard Mr. Sunil Shanker, learned counsel for the Appellants and Mr. Anchal C. Vijayan, learned counsel for the Respondents / Original Petitioners.

4. We note from the impugned order dated 10 December 2024 in W.P