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IN THE HIGH COURT OF KERALA AT ERNAKULAM
BASANT BALAJI, J
ZACHARIAH CHACKO – Appellant
Versus
THE KOTTAYAM CO-OPERATIVE URBAN BANK LIMITED – Respondent
| Table of Content |
|---|
| 1. petitioner has a financial facility with the bank, and is seeking to regularize defaults. (Para 2) |
| 2. the overdue amount is confirmed, and the bank objects to lengthy installments. (Para 3) |
| 3. court directs installment repayment due to petitioner's disability and is allowing for abeyance of coercive actions. (Para 4) |
JUDGMENT
Dated this the 31st day of January, 2026 The petitioner has availed a financial facility from the respondent Bank. He is a 40% disabled person. Ext.P2 is the ID issued by the Government of Kerala. The loan taken was for an amount of Rs.9 lakhs and Rs.1,40,000/- respectively in the year 2023 and 2024. The term of the loan ends only in the year 2031. Though there was prompt payment till 2024, on default, the bank initiated proceedings under the SARFAESI Act and notices under Section 13(2) as well as 13(4) were issued. The petitioner has approached this Court with a prayer to regularise the loan account by allowing him to remit the overdue amount in 20 monthly installments commencing from 07.03.2026.
3. The learned Standing Counsel for the Bank, on instructions, submits that the overdue amount as on date is Rs.4,30,115/-. The learned counsel obje
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