2025:KER:26584 WP(C) NO. 5906 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. 5906 OF 2025 PETITIONER/S: F. M. SHAMIER MARICKAR,AGED 49 YEARS S/O. LATE FAZIL MARICKAR Y. M, A-6 KENT NALUKETTU,CHAKKARAPARAMBU, VENNALA P.O , ERNAKULAM, PIN - 682028 BY ADVS. BLAZE K.JOSE TREESA ROSE AFRUS SHAHANA SANDRAMOL THOMAS RESPONDENT/S: THE CHIEF MANAGER,UNION BANK OF INDIA, THRIKKAKKARA BRANCH, THRIKKAKKAR P. O, KAKKANAD,ERNAKULAM, PIN - 682030 BY ADVS. ASP.KURUP 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) ANSHA A.(K/002797/2023) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:26584 WP(C) NO. 5906 OF 2025 2 JUDGMENT Petitioner has 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 petitioner. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account. 3. It is submitted on behalf of the respondent bank that the petitioner availed home loan from the respondent bank and committed default in repayment. It is submitted that, after giving credit to the amount paid as per the interim order dated 14.03.2025, the overdue amount, as of now, would come to Rs.24,42,000/- (Rupees Twenty four lakh and forty two thousand only). It is 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 overdue amount in two instalments and regularise the loan account. 2025:KER:26584 WP(C) NO. 5906 OF 2025 3 4. Learned counsel appearing for the petitioner would submit that the petitioner may be given some further instalments to pay off the overdue amount. 5. 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 overdue amount of Rs.24,42,000/- (Rupees Twenty four lakh and forty two thousand only) along with any accrued interest, cost and charges in five instalments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. 6. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.24,42,000/- (Rupees Twenty four lakh and forty two thousand only) along with accrued interest, cost and bank charges from the petitioner and regularise the loan account of the petitioner in the following manner:- (i) The petitioner shall pay the overdue amount of Rs.24,42,000/- (Rupees Twenty four lakh and forty two thousand only) along with any accrued interest, cost and charges in five equated monthly instalments; (ii)The first instalment shall be paid on or before 15.04.2025 and the subsequent instalments shall be paid on or before the 15th day of each succeeding months; 2025:KER:26584 WP(C) NO. 5906 OF 2025 4 (iii)Petitioner shall continue to pay the regular EMI’s/instalments along with the instalments directed above; (iv) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; (v) 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 ajt 2025:KER:26584 WP(C) NO. 5906 OF 2025 5 APPENDIX OF WP(C) 5906/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE U/S. 13 (2) OF SARFAESI ACT DATED 14.6.2024 ISSUED BY THE RESPONDENT Exhibit P2 A TRUE COPY OF THE NOTICE U/S. 13 (2) OF SARFAESI ACT DATED 15.11.2024 ISSUED BY THE RESPONDENT Exhibit P3 A TRUE COPY OF THE LOAN ACCOUNT STATEMENT OF THE PETITIONER DATED 10.2.2025 Exhibit P4 A TRUE COPY OF THE POSSESSION NOTICE DATED 7.2.2025 ISSUED BY THE RESPONDENT Exhibit P5 A TRUE COPY OF THE REPRESENTATION DATED 7.2.2025 SUBMITTED BY THE PETITIONER TO THE RESPONDENT RESPONDENT EXHIBITS Exhibit R1A A true copy of details confirming the petitioner’s ownership of multiple companies