The court affirmed that debtors may be granted installment payment plans under SARFAESI, ensuring due process before coercive actions.

IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE P. V. BALAKRISHNAN TUESDAY, THE 24^TH DAY OF MARCH 2026 / 3RD CHAITHRA, 1948 WP(C) NO. 11513 OF 2026 PETITIONER:

SAINABA K.A AGED 60 YEARS W/O. LATE BAVA, KEELATHKIZHAKKAN HOUSE, M. H. KAVALA, THANDEKKAD, PERUMBAVOOR, POONJASSERY P.O., ERNAKULAM DISTRICT, PIN - 683547 BY ADVS.

SRI.PAUL K.VARGHESE SMT.A.A.GEETHA RESPONDENTS:

1 THE SOUTH INDIAN BANK LTD REGIONAL OFFICE. SIB BUILDING, INFOPARK ROAD, RAJAGIRI VALLEY P.O., KAKKANAD, ERNAKULAM DISTRICTREPRESENTED BY ITS AUTHORISED OFFICER., PIN – 682039

2 THE SOUTH INDIAN BANK LTD MORAKKALA, KUMARAPURAM, PALLIKKARA ERNAKULAM DISTRICTREPRESENTED BY ITS BRANCH MANAGER., PIN -

683565

3 THE BRANCH MANAGER SOUTH INDIAN BANK LTD, MORAKKALA, KUMARAPURAM, PALLIKKARA ERNAKULAM DISTRICT, PIN - 683565 BY ADV.SRI.B.J.JOHN PRAKASH, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24.03.2026, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

JUDGMENT

Dated this the 24^th day of March, 2026 It is aggrieved by the coercive steps taken by the respondents under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (hereinafter referred to as the ‘SARFAESI Act’ for short), this writ petition has been preferred by the petitioner.

2. Heard the learned counsel for the petitioner and the learned Standing Counsel for the respondents.

3. The learned counsel for the petitioner submits that an opportunity may be given to the petitioner to clear the outstanding amount in installments.

4. The learned counsel for the respondents submitted that, the total outstanding amount, as on 23.03.2026, is Rs.15,50,264/- (Rupees Fifteen Lakhs Fifty Thousand Two Hundred and Sixty Four only) and the bank has no objections in permitting the petitioner to clear the entire outstanding amount with interest, by way of installments since, the same is only beneficial to it.

5. Hence, considering the submissions made by the learned counsel for the respondents and the facts and circumstances of this case, I am of the view that the petitioner can be granted an opportunity to repay the entire outstanding amount of Rs.15,50,264/- (Rupees Fifteen Lakhs Fifty Thousand Two Hundred and Sixty Four only) along with any accrued interest, costs and charges in installments, subject to terms.

Accordingly, this writ petition is allowed as follows:

(i) The petitioner shall remit a sum of Rs.2,00,000/-

(Rupees Two Lakhs only) on or before 15^th April, 2026 to the bank;

(ii) Thereafter, the petitioner shall remit the balance outstanding amount along with any accrued interest, costs and charges in eight equal monthly installments starting from May, 2026 and the installments shall be paid on or before

15^th of every month;

(iii) In case the petitioner complies with the above condition, the respondents shall not take any coercive steps against the petitioner; and (iv) In case the petitioner fails to comply with any of the condition as stated afore, the respondents will be at liberty to continue with the coercive steps already taken against the petitioner.

Sd/-

P.V. BALAKRISHNAN, JUDGE nk APPENDIX OF WP(C) NO. 11513 OF 2026 PETITIONER EXHIBITS Exhibit P1 A TRUE PHOTO OF THE ABOVE-MENTIONED RESIDENTIAL HOUSE OF THE PETITIONER Exhibit P2 A TRUE COPY OF THE NOTICE ISSUED BY THE AUTHORIZED OFFICER, SOUTH INDIAN BANK LTD., REGIONAL OFFICE, ERNAKULAM, DATED

16.1.2025 Exhibit P3 A TRUE COPY OF THE NOTICE ISSUED BY JENNA SUSAN BAJI, ADVOCATE COMMISSIONER TO THE PETITIONER AND OTHERS, DATED 8.12.2025 Exhibit P4 A TRUE COPY OF THE PAYMENT TRANSACTION RECEIPT FOR A SUM OF RS. 1,00,000/- ISSUED BY SOUTH INDIAN BANK LTD., DATED

17.12.2025 Exhibit P5 A TRUE COPY OF THE PAYMENT TRANSACTION RECEIPT FOR A SUM OF RS. 1,00,000/- ISSUED BY SOUTH INDIAN BANK LTD., DATED

19.12.2025 Exhibit P6