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IN THE HIGH COURT OF KERALA AT ERNAKULAM
BASANT BALAJI, J
ABDUN NAZER – Appellant
Versus
CANARA BANK – Respondent
| Table of Content |
|---|
| 1. loan default initiated bank action. (Para 1 , 2) |
| 2. petitioner seeks installment payment for default. (Para 3 , 4) |
| 3. court emphasizes procedural course before seeking relief. (Para 5 , 6) |
JUDGMENT
(Dated this the 12th day of February, 2026)
The petitioner is the owner of the property which was mortgaged as security for a loan of ₹1,00,00,000/- availed from the respondent Bank in the year 2023 for a period of four years. The secured assets comprised 9.41 cents of land with a residential building having an extent of 2600 sq. ft., along with an additional extent of 1.25 cents of land.
2. Upon default in repayment of the instalments, the respondent Bank initiated proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). An Advocate Commissioner was appointed to take physical possession of the secured assets.
3. At that stage, the petitioner approached the Debt Recovery Tribunal by filing S.A. No. 434 of 2024 under Section 17 of the SARFAESI Act. It is admitted by the petitioner that physical possession of the secured assets was taken on 23.01.2026.
4. The relief sought in the present writ
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