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IN THE HIGH COURT OF KERALA AT ERNAKULAM
BASANT BALAJI, J
SHINOD POOTHOTTE CHANDRAN – Appellant
Versus
FEDERAL BANK LTD – Respondent
WP(C) NO. 45163 OF 2025
| Table of Content |
|---|
| 1. petitioner availed loans mortgaging property. (Para 1) |
| 2. discussions on repayment installment terms. (Para 2) |
| 3. court's final order on installment payments. (Para 3) |
JUDGMENT DATED THE 30TH DAY OF JANUARY 2026 The petitioner has availed a housing loan of Rs.22,50,000/- in 2016 and a flood relief loan of Rs.2,78,250/- in 2018 from the respondent Bank by mortgaging 4.05 Ares of land in Survey No.198/1 of Pappinivattom Village, Kodungallur Taluk, Thrissur District. Due to default in repayment, the Bank initiated proceedings under the SARFAESI Act and notice were issued under Sections 13(2) and 13(4) of the SARFAESI Act . At this point of time, the petitioner approached this Court for a direction to the respondent to regularise the loan account by permitting the petitioner to pay the overdue amount in installments.
2. The counsel for the respondent, on instructions, submits that the respondent has already recalled the loan and an original application is filed as O.A.No.616 of 2025 and that the loan cannot be regularised. But, if the petitioner is ready to pay the outstanding amount in installments, the respondent is willing to permit the petitioner to pay off the outstanding amount in equal monthly installments. The outstanding amount as on 30.12.2025 is Rs.39,04,500/-. The petitioner submits that he may be granted 20 equal monthly installments to pay the amount due, which is opposed by the counsel for the respondent.
3. Taking into consideration that the housing loan wherein the term period is not yet over, but the fact that O.A is filed, I dispose of the writ petition as follows:
a) The petitioner shall remit the outstanding amount of Rs.39,04,500/- (Rupees Thirty nine lakhs four thousand five hundred only) together with allied interest and other charges, in ten (10) equated monthly installments, starting from 20.02.2026 and the subsequent installments shall be paid on or before 20th of every succeeding months.
b) In the event of default of any one installment, the respondent shall be entitled to proceed in accordance with law.
c) All coercive proceedings shall be kept in abeyance to enable the petitioner to repay the entire amount as directed above.
Sd/-
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