IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR.JUSTICE BASANT BALAJI FRIDAY, THE 28TH DAY OF MARCH 2025 / 7TH CHAITHRA, 1947 OP(C) NO. 476 OF 2025 MA(ARB.) NO.80 OF 2024 OF DISTRICT COURT & SESSIONS COURT, PALAKKAD PETITIONER/1ST RESPONDENT: RANJITH K.R. AGED 39 YEARS S/O. RAJAN, KALLINGAL HOUSE, KRISHNAKRIPA, ODANOOR, PARALI P.O., PALAKKAD,, PIN - 678612 BY ADVS. SARATH M.S. ATHUL KRISHNA A. VARUN JACOB GOKUL DEVIS SHAMMY S. RESPONDENTS/PETITIONER/2ND AND 3RD RESPONDENT: 1 M/S. SAKTHI FINANCE LIMITED REGISTERED OFFICE AT NO.62, NANJAPPA ROAD, COIMBATORE, BRANCH OFFICE AT 12/872, FIRST FLOOR, KAV CENTRAL, CHANDRANAGAR, PALAKKAD, REPRESENTED BY BRANCH MANAGER, KARTHIKEYAN A.K., S/O. RAMAKRISHNAN A.K., AGED 43 YEARS, PIN - 678007 2 HEMALATHA W/O RAJAN,KALLINGAL HOUSE,KRISHNAKRIPA,ODANOOR,PARALI POST PALAKKAD, PIN - 678612 3 MANU K M S/O MANIKANDAN K.A,KIZHAKKEKALAM,EDATHALA POST,PARALI,PALAKKAD, PIN - 678612 BY ADV NAVEEN THOMAS THIS OP (CIVIL) HAVING COME UP FOR ADMISSION ON 28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: OPC 476/2025 -2- 2025:KER:27781 JUDGMENT (Dated this the 28th day of March, 2025) The petitioner had entered into a hire-purchase agreement with the respondent for financing the purchase of a used FC FORCE TEMPO TRAVELLER vehicle bearing Registration No. KL-69-A-0737. The loan agreement was executed on 31/03/2021 under Agreement No. PGTHP/580380 for a sum of 1,88,000/-. As per the ₹ agreement, the petitioner agreed to repay the loan amount in 42 equal monthly installments commencing from 01/05/2021, with the final installment due on 01/10/2024. When default occurred, the respondent initiated arbitration proceedings by filing MA (Arb) No.80/2024. 2. On 21.02.2024, this Court granted an interim order staying the proceedings in MA (Arb) No.80/2024 for six weeks on the condition that the petitioner remits Rs.30,000/- within one month. 3. The counsel for the 1 st respondent, on instructions, submits that the outstanding amount would come to Rs.1,51,000/-. OPC 476/2025 -3- 2025:KER:27781 4. The counsel for the petitioner seeks installment facility to wipe out the liability towards the 1 st respondent. 5. Taking into consideration the facts and circumstances of the case and the request of the petitioner to pay the defaulted amount in installments, I dispose of this original petition as follows: a) The petitioner shall pay the defaulted amount of Rs.1,51,000/- in six equated monthly installments along with regular installments. b) The first installment is to be paid on or before 10.04.2025, and the remaining five installments on or before the 10 th day of each succeeding months along with regular installments. c) In case of failure to make the payment, the 1 st respondent is at liberty to proceed with the same. The original petition is disposed of as above. Sd/- BASANT BALAJI JUDGE JS OPC 476/2025 -4- 2025:KER:27781 APPENDIX OF OP(C) 476/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF I.A. NO.1/2024 IN MA (ARB) NO.80/2024 ON THE FILE OF COURT OF PRINCIPAL DISTRICT JUDGE, PALAKKAD DATED 8.10.2024