The court allowed the petitioner to repay her loan in installments, deferring the bank's coercive actions pending compliance.

JUDGMENT

Dated this the 25^th day of October, 2025 The Petitioner is aggrieved by the impugned action taken by the respondent to take physical possession of the petitioner’s residential property comprised in Re.Sy. No. 345/6 of Manoorkkara Village, Nedumangadu Taluk, Thiruvananthapuram District, under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the SARFAESI Act). Petitioner is the absolute owner of the property comprised in Re.Sy. No. 345/6 of Manoorkkara Village, Nedumangadu Taluk, Thiruvananthapuram District. The Petitioner had availed a loan for an amount of Rs. 3, 00,000/- (Rupees Three Lakhs only) from the respondent in the year 2015. When there was default in repayment, the bank initiated proceedings against the petitioner under the SARFEASI Act.

2. The learned counsel for the petitioner would submit that the petitioner may be permitted to clear the liability in installments.

3. It is submitted on behalf of the respondent Bank that the petitioner committed default in repayment of the loan and the outstanding amount as on 23.02.2026 is Rs.3,29,635/-(Three lakhs twenty nine thousand six hundred thirty five only).

4. In view of the above, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount on the following conditions:

(i) The petitioner shall pay the outstanding amount of Rs.3,29,635/-(Three lakhs twenty nine thousand six hundred thirty five only), along with any accrued interest, cost and allied charges in six equated monthly installments.

(ii) The 1^st installment shall be paid on or before 10.03.2026. The remaining installments shall be paid on or before the 10^th day of every succeeding months.

(iii) In case of failure to make payment of any one of the installments as directed above, the bank shall be free to take possession of the secured assets. The bank shall proceed against the petitioner in accordance with law.

(iv) Till such time, all coercive proceedings against the secured assets shall be deferred.