WP(C) NO. 5353 OF 2025 1 2025:KER:30210 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 3RD DAY OF APRIL 2025 / 13TH CHAITHRA, 1947 WP(C) NO. 5353 OF 2025 PETITIONER: ANIL KUMAR M., AGED 49 YEARS S/O. AANDI, MELE ERENGATT HOUSE, P.O., KARANTHUR, KUNNAMANGALAM, KOZHIKKODE, PIN - 673571 BY ADVS. S.K.KRISHNAKUMAR MANEKSHA D. V.M.MARY HARSHA RESPONDENTS: 1 PUNJAB NATIONAL BANK, HAVING ITS REGISTERED OFFICE AT PLOT NO.4, SECTOR 10, DWARKA, NEW DELHI, PIN - 110075 2 THE CHIEF MANAGER & AUTHORISED OFFICER, CIRCLE SASTRA CENTRE, SHATHABDI BHAVAN, MINI BY PASS ROAD, GOVINDAPURAM, KOZHIKKODE, PIN - 673016 3 THE BRANCH MANAGER, PUNJAB NATIONAL BANK, KUNNAMANGALAM BRANCH, P.O. KUNNAMANGALAM, KOZHIKKODE, PIN - 673571 BY ADV K.P.SUDHEER THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 5353 OF 2025 2 2025:KER:30210 JUDGMENT Petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the bank for recovery of the amounts due from the petitioner. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the outstanding amount in instalments. 3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment of a mortgage overdraft loan and the outstanding amount as on 10.02.2025 is Rs.31,31,698.32/- after giving credit to the amount paid by the petitioner pursuant to the interim order dated 21.03.2025., he further submitted that the bank is not willing to accept repayment of the amount in installments. It is submitted that if this Court is inclined to grant any installments to the petitioner, then the number of installments may be limited. 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 10 instalments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.31,31,698/- along with any accrued interest, costs and charges from the petitioner WP(C) NO. 5353 OF 2025 3 2025:KER:30210 in the following manner: (i)The outstanding amount of Rs.31,31,698.32/- along with any accrued interest, costs and charges shall be repaid in 10 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 Nsd WP(C) NO. 5353 OF 2025 4 2025:KER:30210 APPENDIX OF WP(C) 5353/2025 PETITIONER EXHIBITS Exhibit P-1 A TRUE COPY OF THE NOTICE DATED 13-3-2024 ISSUED BY THE 2 ND RESPONDENT TO THE PETITIONER Exhibit P-2 A TRUE COPY OF THE POSSESSION NOTICE DATED 6- 6-2024 ISSUED BY THE 2 ND RESPONDENT TO THE PETITIONER Exhibit P-3 A TRUE COPY OF THE SALE NOTICE DATED 20-1- 2025 ISSUED BY THE 2 ND RESPONDENT TO THE PETITIONER Exhibit P4 A TRUE COPY OF THE SALE NOTICE DATED 7-2-2025 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER