IN THE HIGH COURT OF KERALA AT ERNAKULAM
BASANT BALAJI, J
RAJI – Appellant
Versus
AUTHORIZED OFFICER, (UNDER SARFEASI ACT), THE PAYYOLI CO-OPERATIVE URBAN BANK LTD – Respondent
JUDGMENT
Dated this the 23rd day of February, 2026 The prayer in this writ petition is to call for the records leading to Ext.P1 demand notice and quash the same and to allow the petitioner to repay the entire loan arrears in equal installments.
2. The learned counsel for the respondent submits that an interim order was passed by this Court on 29.7.2025 directing the petitioner to remit Rs.3 lakhs on or before 26.8.2025 but, the petitioner did not remit the amount. Thereafter, an application was moved for extension of time, by which time was extended till 14.11.2025. The petitioner remitted the amount within time and Rs.1.5 lakhs was paid on 15.12.2025 and 19.1.2026. In the meanwhile, the physical possession was taken. Now, the petitioner states that if the petitioner is given an opportunity to pay the overdue amount in instsallments, he will pay the amount and the possession may be restored back to him.
3. The learned counsel for the respondents submits that the overdue amount is Rs.4,61,000/-.
4. Having heard the learned counsel on both sides, and the fact that the respondents have no objection in granting installment facility to the petitioner, I dispose of the writ petition as fol
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.