2025:KER:30147 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. 2783 OF 2025 PETITIONER: JAYASINDHU K.S., AGED 54 YEARS, W/O. RAJENDRAN PILLAI, RAJITHA BHAVAN, KOTTUKKAL, KOTTARAKKARA TALUK, KOLLAM, PIN – 691306. BY ADV PRAKASH MATHEW RESPONDENTS: 1 KERALA BANK, KOTTUKKAL BRANCH, KOTTUKKAL, KOTTARAKKARA TALUK, KOLLAM, PIN – 691306. 2 THE AUTHORIZED OFFICER, KERALA BANK, KOTTUKKAL BRANCH, KOTTUKKAL, KOTTARAKKARA TALUK, KOLLAM, PIN – 691306. BY ADV P.C.SASIDHARAN, 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. 2783 OF 2025 2 2025:KER:30147 JUDGMENT 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. It was submitted on behalf of the respondent Bank that the petitioner committed default in repayment of a business loan and the outstanding amount as on 03.04.2025 is Rs.34,72,103/- (Rupees thirty four lakhs seventy two thousand one hundred and 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 on condition that Rs.2,00,000/- (Rupees two lakhs only) shall be paid on or before 30.04.2025 and the balance amount along with accrued interest, costs and charges shall be paid in 12 equal monthly instalments, the first of which shall be paid on or before 30.05.2025 and the subsequent instalments shall be paid on or before the last WP(C) NO. 2783 OF 2025 3 2025:KER:30147 working day of every succeeding months. 5. Accordingly, there will be a direction to the respondent Bank to accept repayment of the outstanding amount of Rs.34,72,103/- (Rupees thirty four lakhs seventy two thousand one hundred and three only) along with accrued interest, costs and charges from the petitioner in the following manner:- (i)The petitioner shall pay a sum of Rs.2,00,000/- (Rupees two lakhs only) on or before 30.04.2025. The balance outstanding amount along with any accrued interest, costs and charges shall be paid in 12 equal monthly instalments; (ii)The first instalment shall be paid on or before 30.05.2025 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. 2783 OF 2025 4 2025:KER:30147 APPENDIX OF WP(C) 2783/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE AWARD IN ARC 2622/2022 DATED 20-6-2023 Exhibit P2 TRUE COPY OF THE NOTICE DATED 19-6-2024 ISSUED BY THE 1ST RESPONDENT. Exhibit P3 TRUE COPY OF THE NOTICE DATED 19-11-2024 ISSUED BY THE 1ST RESPONDENT.