JUDGMENT

(Dated this the 10^th day of January 2025) NITIN JAMDAR, C.J. Heard Mr.C.Ajith Kumar, learned counsel for the Appellant and Mr.Ajith M. Jiji, learned counsel for Respondent No.1.

2. This Writ Appeal, under Section 5 of the Kerala High Court Act , 1958, challenges the judgment dated 17 December 2024 in W.P.(C) No.44956 of 2024, whereby the Respondent/Original Petitioner is granted an opportunity to repay the outstanding amount in ten equated monthly installments.

3. The Petitioner had availed a loan of Rs.35,00,000/- from the Appellant Bank after securing it by creating an equitable mortgage of his properties. Due to the default made in its repayment, the account was classified as a 'Non-Performing Asset' (NPA). Thereafter, proceedings were initiated u/s 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002. Being aggrieved by the above, a Writ Petition was preferred.

4. It is not in dispute before us that against the action initiated by the Respondent - Bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 the Writ Petitioner has the remedy to