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2026 Supreme(Online)(Ker) 24770
IN THE HIGH COURT OF KERALA AT ERNAKULAM
P. V. BALAKRISHNAN, J
PRADEEPAN T.P. – Appellant
Versus
AUTHORIZED OFFICER KERALA GRAMEENA BANK – Respondent
WP(C) NO. 11749 OF 2026
For the Appellants/Petitioners: SHRI.ATHUL KRISHNA N.S.
For the Respondents: SHRI.JAWAHAR JOSE
Petitioner granted installment opportunity to clear overdue loan under SARFAESI Act.
Headnote:This judgment involves a writ petition filed under the SARFAESI Act seeking relief from coercive actions of the bank. The petitioner is granted an opportunity to clear an overdue amount of Rs.6,49,067/- in installments and regularise the loan account, with clear conditions for compliance. The court reiterates the importance of compliance to avoid further coercive action.
| Table of Content |
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| 1. petitioners seeks relief from coercive action under sarfaesi act. (Para 1) |
| 2. respondents' counsel agrees to allow installments for repayment. (Para 2 , 3 , 4) |
| 3. court finds merit in petitioner's request and formulates repayment schedule. (Para 5) |
JUDGMENT
Dated this the 01st day of April, 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 06.03.2026, is Rs.6,49,067/- (Rupees Six Lakhs Forty Nine Thousand and Sixty Seven 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.6,49,067/- (Rupees Six Lakhs Forty Nine Thousand and Sixty Seven 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.2,00,000/- (Rupees Two Lakhs only)
within one month from today, to the bank;
(ii) Thereafter, the petitioner shall remit the balance overdue amount with interest in eight equal monthly installments, commencing from May, 2026, and such installments shall be paid on or before the end of every month;
(iii) The petitioner shall also continue to pay the regular EMIs/Installments along with the installments as directed afore;
(iv) 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 bank will be at liberty to continue with the coercive steps already taken.
