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2026 Supreme(Online)(Ker) 23752
IN THE HIGH COURT OF KERALA AT ERNAKULAM
P. V. BALAKRISHNAN, J
DHANYA KANNAN – Appellant
Versus
THE KERALA STATE CO-OPERATIVE BANK LTD. – Respondent
WP(C) NO.12487 OF 2026
For the Appellants/Petitioners: SHRI.MOHAMMED ASHRAF
For the Respondents: ADV.SHRI.K.S.ARUN KUMAR
Court allows installment payments for overdue amounts under SARFAESI Act, ensuring compliance to prevent coercive measures.
Headnote:The writ petition concerns coercive action under the SARFAESI Act. The petitioner requested the opportunity to clear overdue amounts through installments. The court allowed the petition, enabling resolution by requiring an upfront payment and subsequent monthly installments, conditional upon compliance. The final order included specific payment terms.
| Table of Content |
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| 1. petitioner seeks relief from coercive actions under sarfaesi act. (Para 1 , 2) |
| 2. counsel for both parties discuss repayment options. (Para 3 , 4) |
| 3. court permits repayment plan to regularize loan. (Para 5) |
JUDGMENT
Dated this the 30th day of March, 2026 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 petitioner submits that an opportunity may be given to the petitioner to clear the overdue amount in installments.
4. The learned counsel for the respondents submitted that the bank has 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 date, is Rs.12,15,113/- (Rupees Twelve Lakhs Fifteen Thousand One Hundred and Thirteen only)
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 clear the overdue amount of Rs.12,15,113/- (Rupees Twelve Lakhs Fifteen Thousand One Hundred and Thirteen 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 a sum of Rs.1,50,000/- (Rupees One Lakh Fifty Thousand only) on or before 15th April, 2026 to the bank;
