J U D G M E N T

Petitioner has approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act,2002 for recovery of the amounts due upon a loan availed by the petitioner.

2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account.

3. It was submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount as on 03-12-2024 is Rs.9,91,688/-. It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the overdue amount in limited instalments and regularise the loan account.

4. I have heard the learned counsel for the petitioner as well as the learned Standing Counsel for the respondent Bank.

5. Having regard to the facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs, I am of the view that the petitioner can be granted an opportunity to clear off the overdue amount in twelve (12) equal monthly instalments first of which shall be paid on or before 31-12-2024 and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.

6. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.9,91,688/- along with bank charges from the petitioner and regularise the loan account of the petitioner on the following conditions:

(i) The overdue amount of Rs.9,91,688/- together with any accrued interest and charges which shall be repaid in twelve equated monthly instalments.

(ii) The first instalment shall be paid on or before 31-12-2024 and the subsequent instalments shall be paid on the last working day of each succeeding month.

(iii) Petitioner shall continue to pay the regular EMI’s along with the instalments directed above.

(iv) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law.

(v) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-

GOPINATH P.

JUDGE AMG APPENDIX OF WP(C) 22000/2024 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE IDENTITY CARD ISSUED BY THE KERALA ADVOCATES’ CLERKS WELFARE FUND COMMITTEE BEARING MEMBERSHIP NO.57/KACWFC/78/2008 Exhibit P2 A TRUE COPY OF THE CERTIFICATE DATED 18-11-

2008 ISSUED TO THE PETITIONER BY THE KERALA ADVOCATES’ CLERKS WELFARE FUND COMMITTEE FOR HAVING ENROLLED HIM INTO THE ADVOCATE CLERKS FUND Exhibit P3 A TRUE COPY OF THE DEMAND NOTICE DATED 28-12-

2020 FOR RECOVERY OF AN AMOUNT OF RS.9,82,000.00 (RUPEES NINE LAKHS EIGHTY TWO THOUSAND ONLY) ISSUED BY THE 2ND RESPONDENT Exhibit P4 A TRUE COPY OF THE DEMAND NOTICE DATED 4-1-

2022 ISSUED BY THE DY. TAHSILDAR, COLLECTOR/AUTHORISED OFFICER OF KARUNAGAPPALLY TALUK TO THE PETITIONER AND HIS WIFE Exhibit P5 A TRUE COPY OF THE REPRESENTATION DATED 29-7-

2023 SENT BY THE PETITIONER AND HIS WIFE TO THE MINISTER OF THE DEPARTMENT OF REVENUE, GOVERNMENT OF KERALA Exhibit P6 TRUE COPY OF THE ORDER BEARING FILE NO.2021/6994/02/1/S2(REV) DATED 26-8-2023 ISSUED BY THE ADDITIONAL PRINCIPAL SECRETARY, REVENUE (S) DEPARTMENT, THIRUVANANTHAPURAM Exhibit P7 A TRUE COPY OF THE REPRESENTATION DATED 11-9-

2023 SENT BY THE PETITIONER TO THE OFFICE OF THE DISTRICT COLLECTOR Exhibit P8 A TRUE COPY OF THE REPLY LETTER DATED 26-9-

2023 BEARING NO. 1/190410/2023 ISSUED BY THE OFFICE OF THE DISTRICT COLLECTOR, KOLLAM DISTRICT TO THE PETITIONER Exhibit P9 A TRUE COPY OF THE ORDER DATED 6-10-2023 BEARING FILE NO.2021/6994/02/2/S2(REV) ISSUED BY THE OFFICE OF THE PRINCIPAL SECRETARY,