2025:KER:28036 WP(C) NO. 6934 OF 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 2ND DAY OF APRIL 2025 / 12TH CHAITHRA, 1947 WP(C) NO. 6934 OF 2025 PETITIONER/S: ANIL JACOB MATHEW, AGED 60 YEARS S/O. LATE V.C. MATHEW,VANIAPURACKAL HOUSE, NEAR SB COLLEGE, CHANGANACHERRY, KOTTAYAM, PIN - 686101 BY ADVS. LIJI.J.VADAKEDOM ATHUL V. VADAKKEDOM REXY ELIZABETH THOMAS RESPONDENT/S: 1 THE SOUTH INDIAN BANK LTD., REPRESENTED BY ITS AUTHORIZED OFFICER, KOTTAYAM REGIONAL OFFICE, 1ST FLOOR, REGENCY SQUARE, K.K. ROAD, COLLECTORATE P.O., KOTTAYAM, PIN - 686002 2 THE AUTHORIZED OFFICER, THE SOUTH INDIAN BANK LTD., KOTTAYAM REGIONAL OFFICE, 1ST FLOOR, REGENCY SQUARE, K.K. ROAD, COLLECTORATE P.O., KOTTAYAM, PIN - 686002 3 THE SOUTH INDIAN BANK LTD., REPRESENTED TS BRANCH MANAGER BRANCH KANJIKUZHY, VI/29C,KANJIKUZHY JUNCTION, MUTTAMBALAM P.O., KOTTAYAM, PIN - 686004 2025:KER:28036 WP(C) NO. 6934 OF 2025 2 4 THE SOUTY ITS AUTHORIZED OFFICER, SIB HOUSE’ REGISTERED OFFICE, T.B. ROAD, MISSION QUARTERS, THRISSUR, PIN - 680001 SRI. P.A.AUGUSTINE, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28036 WP(C) NO. 6934 OF 2025 3 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 liability in instalments. 3. Learned Standing Counsel appearing for the respondent bank submits that the petitioner along with his wife availed an overdraft facility from the respondent bank and committed default in repayment. It is also submitted that regularisation is not possible. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept the repayment of the outstanding amount. It is submitted that, the number of instalments may be restricted to four. According to the learned Standing Counsel appearing for the respondent, after giving credit to the amounts paid by the petitioner pursuant to the interim 2025:KER:28036 WP(C) NO. 6934 OF 2025 4 order dated 20.02.2025, the balance amount, as on 02.04.2025, would come to Rs.21,41,706/- (Rupees Twenty one lakh forty one thousand seven hundred and six only). 4. Learned counsel appearing for the petitioner submits that since the petitioner has already paid a sum of Rs.8 lakh pursuant to the interim order dated 20.02.2025, the petitioner may be given some further instalments to cler the liability. 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 amount of Rs.21,41,706/- (Rupees Twenty one lakh forty one thousand seven hundred and six only) along with accrued interest, cost and charges in seven instalments. 6. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.21,41,706/- (Rupees Twenty one lakh forty one thousand seven hundred and six only) 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 2025:KER:28036 WP(C) NO. 6934 OF 2025 5 Rs.21,41,706/- (Rupees Twenty one lakh forty one thousand seven hundred and six only) in seven equated monthly instalments along with any accrued interest, charges and costs; (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 the 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 ajt 2025:KER:28036 WP(C) NO. 6934 OF 2025 6 APPENDIX OF WP(C) 6934/2025 PETITIONER EXHIBITS Exhibit P1 A COPY OF THE JUDGMENT DATED 8.8.2022 IN W.P. (C) NO. 6624/2022 BEFORE THIS HONOURABLE COURT Exhibit P2 A COPY OF THE JUDGMENT DATED 16.1.2023 IN W.P.(C) 741/2023 BEFORE THIS HONOURABLE COURT Exhibit P3 THE COPY OF THE NOTICE DATED 14.2.2024 ISSUED BY THE 1ST RESPONDENT