IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P.

THURSDAY, THE 20^TH DAY OF FEBRUARY 2025 / 1ST PHALGUNA, 1946 WP(C) NO. 43454 OF 2024 PETITIONER/S:

UNNIKRISHNAN.K.K.

AGED 59 YEARS S/O. KITTAPPAN, KARYDATH HOUSE, POOPATHY. P.O, POYYA, THRISSUR DIST., PIN - 680733 BY ADVS.

K.S.RAJESH M.SHAJU PURUSHOTHAMAN RESPONDENT/S:

1 THE DEPUTY TAHASILDAR (RR), TALUK OFFICE, KODUNGALLUR, P.O. KODUNGALLUR, THRISSUR DIST., PIN - 680664

2 THE VILLAGE OFFICER POYYA VILLAGE, THRISSUR DIST., PIN - 680733

3 CANARA BANK MALA BRANCH, AL KHANIS COMPLEX, K.K. ROAD, P.O. MALA, THRISSUR DIST. REPRESENTED BY IT’S BRANCH MANAGER., PIN - 680732 BY ADVS.

GOPIKRISHNAN NAMBIAR M K.JOHN MATHAI(K/413/1984)

JOSON MANAVALAN(J-526)

KURYAN THOMAS(K/131/2003)

PAULOSE C. ABRAHAM(MAH/58/2006)

RAJA KANNAN(K/356/2008)

AKHILA NAMBIAR(K/737/2021)

THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON

20.02.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

JUDGMENT

The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent bank for recovery of the amounts due from 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. Petitioner is a co-obligant in respect of an educational loan obtained by his daughter from the respondent bank. On default being committed, proceedings have been initiated under the provisions of the Revenue Recovery Act to recover the amounts due from the petitioner. Counsel for the petitioner submits that the petitioner may be permitted to clear the liability in some installments.

4. It was submitted on behalf of the respondent bank that the petitioner committed default in repayment of a consumption loan and the total overdue amount as on 27.01.2025 is Rs.5,29,000/- (Rupees five lakh twenty nine thousand only) and the bank has no objection in granting some installments to the petitioner to clear the liability. 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 installments and regularise the loan account.

5. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the total overdue amount of Rs.5,29,000/- (Rupees five lakh twenty nine thousand only) in ten equal monthly instalments, the first of which shall be paid on or before 05.03.2025 and the subsequent installments shall be paid on the 5^th day of every succeeding months 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.5,29,000/- (Rupees five lakh twenty nine thousand only) along with any accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner in the following manner:

i. The petitioner shall pay the entire overdue amount of Rs.5,29,000/- (Rupees five lakh twenty nine thousand only) along with any accrued interest, costs and charges in ten equal monthly instalments;

ii. The first instalment shall be paid on or before 05.03.2025 and the subsequent instalments shall be paid on or before the 5^th of every succeeding months;

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 Nsd APPENDIX OF WP(C) 43454/2024 PETITIONER EXHIBITS Exhi