2025:KER:26578 WP(C) NO. 5022 OF 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 27TH DAY OF MARCH 2025 / 6TH CHAITHRA, 1947 WP(C) NO. 5022 OF 2025 PETITIONER/S: 1 BEEVI V.C., AGED 65 YEARS FEBIN HOUSE, JT ROAD, VADAKARA, KOZHIKKODE, PIN - 673101 2 AYSHA NAZMIN,AGED 46 YEARS FEBIN HOUSE, JT ROAD, VADAKARA, KOZHIKKODE, PIN - 673101 3 FENVER V.C.,AGED 49 YEARS FEBIN HOUSE, JT ROAD, VADAKARA, KOZHIKKODE, PIN - 673101 BY ADV K.REEHA KHADER RESPONDENT/S: CANARA BANK LTD., BADAGARA MAIN BRANCH, AMBIKA BUILDINGS, QUEENS ROAD, VADAKARA REPRESENTED BY ITS CHIEF MANAGER AND AUTHORISED OFFICER, PIN - 673101 SRI. M.GOPIKRISHNAN NAMBIAR, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:26578 WP(C) NO. 5022 OF 2025 2 JUDGMENT Petitioners have approached this Court challenging proceedings initiated by the respondent Bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due from the petitioners. 2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the liability in instalments. 3. Learned Standing Counsel appearing for the respondent bank submits that the petitioners availed an overdraft facility from the respondent bank and committed default in repayment. It is also submitted that regularisation is not possible. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept the repayment of the outstanding amount in limited instalments. According to the learned Standing Counsel appearing for the respondent, (after giving credit to the amounts pursuant to the interim order dated 21.02.2025), as on 10.03.2025, the balance amount which is liable to be 2025:KER:26578 WP(C) NO. 5022 OF 2025 3 repaid is Rs.1,74,00,000/- (Rupees One Crore and seventy four lakh only). 4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the outstanding amount of Rs.1,74,00,000/- (Rupees One Crore and seventy four lakh only) along with accrued interest, cost and charges in twelve instalments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.1,74,00,000/- (Rupees One Crore and seventy four lakh only) along with any accrued interest, cost and bank charges from the petitioners in the following manner: (i) The petitioners shall pay the outstanding amount of Rs.1,74,00,000/- (Rupees One Crore and seventy four lakh only) in twelve equated monthly instalments along with any accrued interest, cost, and charges; (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 the 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; 2025:KER:26578 WP(C) NO. 5022 OF 2025 4 (iv) In order to enable the petitioners 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 ajt 2025:KER:26578 WP(C) NO. 5022 OF 2025 5 APPENDIX OF WP(C) 5022/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE SALE NOTICE ISSUED TO THE PETITIONERS Exhibit P2 A TRUE COPY OTS SANCTION EXPIRY REMINDING NOTICE ISSUED ON 05-11-2024 BY THE RESPONDENT THROUGH ITS AUTHORISED OFFICER