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IN THE HIGH COURT OF KERALA AT ERNAKULAM
P. V. Balakrishnan, J
Noushad – Appellant
Versus
Kerala State Co-operative Bank – Respondent
| Table of Content |
|---|
| 1. challenge against coercive recovery actions under the sarfaesi act. (Para 1) |
| 2. mutual agreement between borrower and bank for installment-based overdue clearance. (Para 2 , 3 , 4) |
| 3. judicial authorization of a structured repayment plan to regularize loan accounts. (Para 5 , 6) |
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29.06.2026, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
J U D G M E N T
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 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 entire overdues with interest, by way of installments and regularise the loan account since
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