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

FRIDAY, THE 14^TH DAY OF MARCH 2025 / 23RD PHALGUNA, 1946 WP(C) NO. 10003 OF 2025 PETITIONER: SHAJAN.P.D, AGED 59 YEARS S/O DANIEL, PADIPURA THONDALIL HOUSE,VAYALA.P.O, ADOOR TALUK,PATHANAMTHITTA DISTRICT, PIN - 691554 BY ADV K.SANEESH KUMAR RESPONDENTS:

1 THE KERALA STATE CO OPERATIVE BANK, REGIONAL OFFICE, OPP.MUNICIPAL TOWN HALL, ALAPPUZHA DISTRICT-REPRESENTED BY ITS-SECRETARY., PIN - 688011

2 AUTHORISED OFFICER, THE KERALA STATE CO OPERATIVE BANK,REGIONAL OFFICE, OPP.MUNICIPAL TOWN HALL,ALAPPUZHA DISTRICT, PIN -

688011 OTHER PRESENT:

SMT.K.AMMINIKUTTY, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 14.03.2025, 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. Learned counsel appearing for the respondent bank submits that the tenure of the loan is said to expire next year. It is submitted that the overdue amount as on 14.03.2025 is Rs.12,57,415/-. It is submitted that since the loan is to expire next year, the number of installments may be limited. 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. 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 in ten equal monthly instalments, the first of which shall be paid on or before 28.03.2025 and the subsequent instalments shall be paid on the last working 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.

5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.12,57,415/- 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 overdue amount of Rs. 12,57,415/- along with any accrued interest, costs and charges in ten equal monthly instalments;

ii. The first instalment shall be paid on or before 28.03.2025 and the subsequent instalments shall be paid on or before the last working day of every succeeding months;

iii. Petitioner shall continue to pay the regular EMI’s/instalments 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) 10003/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 12.12.2023 Exhibit P2 A TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 27.2.2025