2025:KER:29352 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 4TH DAY OF APRIL 2025 / 14TH CHAITHRA, 1947 OP (DRT) NO. 18 OF 2025 IN SA NO.874 OF 2024 OF DEBT RECOVERY TRIBUNAL- 2, ERNAKULAM PETITIONER/APPLICANT: NAZAR M.H., AGED 63 YEARS, S/O. MUHAMMED HANEF, PROPRIETOR, M/S. AL-FALAH TRADERS, HANNA TOWERS, KOVALAM JUNCTION, TC-67/1784, KOVALAM, THIRUVANANTHAPURAM, PIN – 695 527. BY ADVS. S.K.ADHITHYAN CHRISTY THOMAS REUBEN CHARLY SHAHINA NOUSHAD VYSHNAV S. NAIR RESPONDENTS/ RESPONDENTS : 1 UNION BANK OF INDIA, REPRESENTED BY AUTHORIZED OFFICER, CHALAI BAZAR BRANCH, TC, 38/438-2, GOWRI PLAZA, CHENTHITTA, CHALAI, THIRUVANANTHAPURAM,PIN – 695 036. 2 THE AUTHORIZED OFFICER, UNION BANK OF INDIA, CHALAI BAZAR BRANCH, TC, 38/438-2, GOWRI PLAZA, CHENTHITTA, CHALAI, THIRUVANANTHAPURAM, PIN – 695 036. BY ADVS. ASP.KURUP (SC) SADCHITH.P.KURUP(K/1419/2002) C.P.ANIL RAJ(K/872/2007) SIVA SURESH(K/2688/2022) B.SREEDEVI(K/169/2024) ATHIRA VIJAYAN(K/199/2024) SWATHI KRISHNA P.H.(K/000791/2024) THIS OP (DEBT RECOVERY TRIBUNAL) HAVING COME UP FOR ADMISSION ON 04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:29352 OP (DRT) 18/2025 2 JUDGMENT Petitioner faces proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) to recover amounts due under credit facilities availed by the petitioner from the 1st respondent bank. The petitioner is before this Court being aggrieved by the fact that steps are being taken to take physical possession of the secured asset at a time when a stay petition filed by the petitioner along with an application for amendment of S.A.No. 874/2024 is pending consideration of the Debts Recovery Tribunal-II, Ernakulam. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the outstanding amount in installments. 3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment and the outstanding amount is Rs.35,16,676.97/-. It is further submitted that though proceedings for recovery have been 2025:KER:29352 OP (DRT) 18/2025 3 initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the outstanding amount in limited installments. 4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount in 12 installments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.35,16,676.97/- along with any accrued interest, cost and bank charges from the petitioner in the following manner: (i) The petitioner shall pay the outstanding amount of Rs.35,16,676.97/- together with any accrued interest, cost and bank charges in 12 equated monthly installments; (ii) The first installment shall be paid on or before 30-04-2025. The subsequent installments shall be paid on or before the last working day of the succeeding months; 2025:KER:29352 OP (DRT) 18/2025 4 (iii) In the event of default of any one installment, the respondent bank shall be entitled to proceed in accordance with the law; (iv) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance. (v) Petitioner shall unconditionally withdraw S.A.No.874/2024 pending before the Debts Recovery Tribunal-II, Ernakulam forthwith. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE ats 2025:KER:29352 OP (DRT) 18/2025 5 APPENDIX OF OP (DRT) 18/2025 PETITIONER’S EXHIBITS Exhibit P1 TRUE COPY OF THE S.A NO 874/2024 FILED BY THE PETITIONER DATED 26.11.2024 Exhibit P2 TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 31.12.2024 Exhibit P3 PETITION. A TRUE COPY OF THE ADVANCE PETITION NUMBERED AS 122/25 FILED BY THE PETITIONER DATED 08.01.2025 Exhibit P4 A TRUE COPY OF THE AMENDMENT PETITION NUMBERED AS 124/25 FILED BY THE PETITIONER DATED 08.01.2025 Exhibit P5 TRUE COPY OF THE STAY PETITION DATED 08.01.2025 NUMBERED AS 123/25 RESPONDENT’S EXHIBITS Exhibit R1A A TRUE COPY OF THE JUDGMENT IN WPC NO. 9775/2023 DATED 03.04.2023 OF THIS HONOURABLE COURT Exhibit R1B A TRUE COPY OF THE JUDGEMENT IN RP RP 846/2023 DATED 21.08.2023 Exhibit R1C A TRUE COPY OF THE JUDGMENT IN OP (DRT} 62/2024 DATED 07.02.2024