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IN THE HIGH COURT OF KERALA AT ERNAKULAM
BASANT BALAJI, J
USHA MOHANAN – Appellant
Versus
THE KERALA GRAMEENA BANK – Respondent
| Table of Content |
|---|
| 1. petitioners took a loan secured by property. (Para 1) |
| 2. respondent willingness to regularise pending repayments. (Para 2 , 3) |
| 3. court's conditions for repayment and stay on coercive actions. (Para 4 , 5) |
BASANT BALAJI J ======================
W.P.(C) No. 3051of 2026 ========================
Dated 28th day of January, 2026 JUDGMENT The petitioners had availed a loan from the respondent Bank for a sum of ₹8,52,056.55 by creating a mortgage over the residential property owned by them. Owing to unforeseen circumstances, the petitioners defaulted in remitting the equated monthly instalments, pursuant to which the loan account was classified as a Non-Performing Asset. Thereafter, the respondent Bank initiated recovery proceedings under the provisions of the SARFAESI Act . The Bank has now issued a sale notice dated 17.12.2025 proposing to conduct an e-auction on 28.01.2026 for the purpose of realisation of the alleged outstanding dues.
2. The learned counsel for the respondents, on instructions, submitted that although the sale is posted for today, there are no bidders and, therefore, there is no immediate apprehension to the petitioners with regard to the sale. It is fu
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