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2026 Supreme(Online)(Ker) 22584
IN THE HIGH COURT OF KERALA AT ERNAKULAM
P. V. BALAKRISHNAN, J
MANOJ THANKAPPAN – Appellant
Versus
REPCO HOME FINANCE – Respondent
WP(C) NO. 5061 OF 2026
For the Appellants/Petitioners: SHRI.P.JAHANGEER
For the Respondents: SRI. P. PAULOCHAN ANTONY
The court allows the petitioner to clear overdue amounts in installments under the SARFAESI Act.
Headnote:The High Court of Kerala considered a writ petition challenging coercive actions under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). The petitioner was allowed to pay overdue amounts in installments. The court determined that allowing the petitioner to regularize the loan account served the interest of justice. The verdict outlined the repayment plan and conditions for the petitioner.
| Table of Content |
|---|
| 1. discussion of coercive actions under the sarfaesi act. (Para 1) |
| 2. overview of the attorney's submissions regarding payment. (Para 2) |
| 3. court's decision to allow installment payments. (Para 3) |
| 4. details of repayment terms directed by the court. (Para 4) |
P.V. BALAKRISHNAN, J.
….....................................
…........................................................... Dated this the 27th day of March, 2026 JUDGMENT It is aggrieved by the coercive action 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 respondents submitted that the respondents have no objections in permitting the petitioner to clear the overdues with interest, by way of installments and regularise the loan account since, the same is only beneficial to it. He also submitted that the overdue amount as on today is Rs.1,60,000/- (Rupees One Lakh Sixty Thousand only).
4. 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 clear the total overdue amount of Rs.1,60,000/- (Rupees One Lakh Sixty Thousand only) with interest, in installments and regularise the account subject to terms.
Accordingly, this writ petition is allowed as follows;
(i) The petitioner shall remit the entire overdue amount with interest, in 6 equal monthly installments starting from the month of April, 2026 and such payments shall be made on or before 20th of every month.
(ii) The petitioner shall also continue to pay the regular EMIs/Installments along with the installments as directed afore.
(iii) If the petitioner complies with the above directions, the respondents shall regularise the loan account and in case of failure to pay any of the installments as ordered afore, the respondents will be at liberty to continue with the coercive steps already taken.
