2025:KER:26071 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 25TH DAY OF MARCH 2025 / 4TH CHAITHRA, 1947 WP(C) NO. 6770 OF 2025 PETITIONER: RADHALAKSHMI SREENIVASAN, AGED 65 YEARS, W/O. SREENIVASAN, VALLATH HOUSE, KARUVANNUR P.O., PORATHISSERY PART, THRISSUR DISTRICT, PIN – 680711. BY ADVS. K.R.ARUN KRISHNAN DEEPA K.RADHAKRISHNAN SANAL C.S VISHAK K.V. ANU T.H. RENJITH K.R. RESPONDENTS: 1 SOUTH INDIAN BANK, MAPRANAM MADAIKONAM P.O., THRISSUR REP. BY ITS BRANCH MANAGER, PIN – 680712. 2 THE AUTHORIZED OFFICER/CHIEF MANAGER, SOUTH INDIAN BANK LIMITED, REGIONAL OFFICE, IRINJALAKUDA HAVING OFFICE AT AKP CENTRE, CHRIST COLLEGE ROAD, CHRIST NAGAR, IRINJALAKUDA, THRISSUR DISTRICT, PIN – 680125. BY ADVS. MOHAN JACOB GEORGE P.V.PARVATHY (P-41)(K/000036/1991) REENA THOMAS(R-364) NIGI GEORGE(K/1169/2012) ANANTHU V.LAL(K/001233/2022) SHERIN VARGHESE(K/000628/2010) BRAHMA R.K.(K/003236/2024) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 6770 OF 2025 2 2025:KER:26071 JUDGMENT The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent bank for recovery of the amounts due from the petitioner. 2. The learned counsel for the petitioner would submit that the petitioner may be permitted to clear the liability in instalments. 3. The learned counsel for the respondent Bank submits that after giving credit to the amount of Rs.25 lakhs (which was paid after the filing of this writ petition)the total outstanding amount as on 23.03.2025 is Rs.1,85,92,721/-. It is submitted that the Bank has no objection in permitting the petitioner to clear the liability in four instalments together with any accrued interest, costs and charges considering the fact that the petitioner has remitted a sum of Rs.25 lakhs after the filing of the writ petition. 4. The learned counsel appearing for the petitioner submits that the petitioner will clear the entire liability in four equal monthly instalments. 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 outstanding WP(C) NO. 6770 OF 2025 3 2025:KER:26071 amount along with any accrued interest, costs and charges in four instalments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.1,85,92,721/- (Rupees one crore eighty five lakhs ninety two thousand seven hundred and twenty one only) along with any accrued interest, costs and charges from the petitioner in the following manner:- (i) The petitioner shall pay the outstanding amount of Rs.1,85,92,721/- (Rupees one crore eighty five lakhs ninety two thousand seven hundred and twenty one only) along with any accrued interest, costs and charges in four equated monthly instalments; (ii) The first instalment shall be paid on or before 21.04.2025 and the subsequent instalments shall be paid on or before the 20th 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 DK WP(C) NO. 6770 OF 2025 4 2025:KER:26071 APPENDIX OF WP(C) 6770/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF NOTICE DATED 12/02/2025 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER AND OTHERS Exhibit P2 A TRUE COPY OF TREATMENT RECORDS/DISCHARGE SUMMARY OF THE PETITIONER ISSUED BY THE HOSPITAL AUTHORITIES, ASTER MEDCITY DATED 01/02/2025