2025:KER:29436 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 4TH DAY OF APRIL 2025 / 14TH CHAITHRA, 1947 WP(C) NO. 5928 OF 2025 PETITIONER: KESHAVAN SATHEESAN, AGED 72 YEARS, SON OF KESAVAN, RESIDING AT 189 DEEPALAYAM, VARINJAM, ADUTHALA P.O., KALLUVATHUKKAL, KOLLAM, PIN – 691 579. BY ADVS. TOM MATHEW K.N.RAJANI SAJEN THAMPAN DEEPU ANIL SAJANA P.S. ANNA JEZITA DAVID ANGEL THERESA JOYCE PAUL RESPONDENTS: 1 THE SOUTH INDIAN BANK LTD., PARIPPALLY BRANCH, DO. NO. 322A, D&D TOWER, KALLAMBALAM ROAD, PARIPPALLY PO, KOLLAM, KERALA REPRESENTED BY ITS MANAGER, PIN – 691 574. 2 THE REGIONAL MANAGER, THE SOUTH INDIAN BANK LTD, REGIONAL OFFICE AT YWCA BUILDNG, 3RD FLOOR, M.G ROAD, SPENCER JUNCTION, THIRUVANANTHAPURAM, PIN – 695 001. 2025:KER:29436 WP(C) 5928/2025 2 3 THE RECOVERY OFFICER, THE SOUTH INDIAN BANK, PARIPPALLY BRANCH, DO. NO. 322A, D&D TOWER, KALLAMBALAM ROAD, PARIPPALLY PO, KOLLAM, KERALA, PIN – 691 574. BY ADVS. SUNIL SHANKAR, SC, INDIAN OVERSEAS BANK VIDYA GANGADHARAN(K/000424/2020) ARYA SATHEESH(K/002139/2024) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:29436 WP(C) 5928/2025 3 JUDGMENT This is the third round of litigation at the instance of the petitioner challenging the proceedings initiated by the respondent bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) to recover amounts due under credit facilities availed by the petitioner from the respondent bank. 2. The learned counsel appearing for the respondent bank submits that this writ petition is not maintainable. However, it is submitted that purely as a matter of indulgence, the respondent bank is willing to permit the petitioner to pay off the present outstanding amount of Rs.21,66,341.29/-, as on 04-04-2025, provided the amount is remitted in two monthly installments. 3. The learned counsel appearing for the petitioner would submit that the amount now claimed by the respondent bank does not appear to be correct. It is submitted that the petitioner may be permitted to clear the amount now demanded in four equal monthly installments and also to take any 2025:KER:29436 WP(C) 5928/2025 4 objection regarding the amount now demanded before the competent authority of the respondent bank. 4. Having regard to the circumstances of the case and the submissions made as recorded above and considering the extremely fair stand taken by the learned counsel for the respondent bank, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount in four (04) installments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.21,66,341.29/- along with any accrued interest, cost and bank charges from the petitioner in the following manner: (i) The petitioner shall pay the outstanding amount of Rs.21,66,341.29/- together with any accrued interest, cost and bank charges in four (04) equated monthly installments; (ii) The first installment shall be paid on or before 20-04-2025. The subsequent installments shall be paid on or before the 20th day of the succeeding months; (iii) In the event of default of any one installment, the respondent bank shall be entitled to proceed in accordance with the law; 2025:KER:29436 WP(C) 5928/2025 5 (iv) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance. If the petitioner has any dispute regarding the amount demanded by the respondent bank, it will be open to the petitioner to seek an account statement and raise any objection before the competent authority of the respondent bank. However, filing such objection will not absolve the petitioner from the liability to pay off the amounts as directed in this judgment until and unless the bank accepts the objection raised by the petitioner. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE ats 2025:KER:29436 WP(C) 5928/2025 6 APPENDIX OF WP(C) 5928/2025 PETITIONER’S EXHIBITS Exhibit P1 TRUE COPY OF THE JUDGMENT IN W.P.(C) 1006 OF 2025 DATED 28.01.2025 Exhibit P2 TRUE COPIES OF THE PAY-IN-SLIP EVIDENCING PAYMENT OF RS.10,00,000/- DATED 31.01.2025 AND 03.02.2025 Exhibit P3 TRUE COPY OF THE REPRESENTATION LETTER ISSUED BY THE PETITIONER TO THE 1ST RESPONDENT DATED 03/02/2025 Exhibit P4 TRUE COPY OF THE REPLY LETTER ISSUED BY THE 3RD RESPONDENT TO THE PETITIONER DATED 04.02.2025