2025:KER:30146 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. MONDAY, THE 7TH DAY OF APRIL 2025 / 17TH CHAITHRA, 1947 WP(C) NO. 2014 OF 2025 PETITIONER: RASHIQUE V., AGED 38 YEARS, S/O. MOIDEEN, SAMSA HOUSE, KADAMPUZHA, FEROKE COLLEGE P.O., KOZHIKODE, PIN – 673632. BY ADVS. RUBY K. ROY VISHNU NARAYANAN RESPONDENTS: 1 THE AUTHORIZED OFFICER, FEROKE CO-OPERATIVE URBAN BANK LTD. NO. D2640, BUS STAND BUILDING, FEROKE P.O., PIN – 673631. 2 THE SECRETARY, FEROKE CO-OPERATIVE URBAN BANK LTD., NO. D2640, BUS STAND BUILDING, FEROKE P.O.,, PIN – 673631. BY ADV S.K. SAJU, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 2014 OF 2025 2 2025:KER:30146 JUDGMENT The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent bank for recovery of the amounts due from the petitioner. 2. The learned counsel for the petitioner would submit that the petitioner may be permitted to clear the liability in instalments. 3. The learned counsel appearing for the respondent Bank submits that the remaining tenure of the loan is only 9 months. Therefore, the petitioner may be required to pay off the entire outstanding amount in some instalments. It is submitted that the outstanding amount as on today (07.04.2025) is Rs.10,53,983/- (Rupees ten lakhs fifty three thousand nine hundred and eighty three only). It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the outstanding amount in limited instalments. 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 along with any accrued interest, costs and charges in 12 WP(C) NO. 2014 OF 2025 3 2025:KER:30146 instalments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.10,53,983/- (Rupees ten lakhs fifty three thousand nine hundred and eighty three only) along with any accrued interest, costs and charges from the petitioner in the following manner:- (i) The petitioner shall pay the outstanding amount of Rs.10,53,983/- (Rupees ten lakhs fifty three thousand nine hundred and eighty three only) along with any accrued interest, costs and charges in 12 equated monthly instalments; (ii) The first instalment shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on or before the last working day of every succeeding months; (iii) In the event of default of any one instalment, 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. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE DK WP(C) NO. 2014 OF 2025 4 2025:KER:30146 APPENDIX OF WP(C) 2014/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE JUDGEMENT IN WP( C) NO. 3755 OF 2023 DATED 16.10.2023 Exhibit P2 A TRUE COPY OF THE NOTICE OF THE ADVOCATE COMMISSIONER DATED 23.08.2024