WP(C) NO. 7836 OF 2025 1 2025:KER:28804 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. 7836 OF 2025 PETITIONER: C.P. FAISAL., AGED 50 YEARS S/O. IBRAHIM, PRAVIL, KARUVAMPOYIL P.O. , KOZHIKODE, PIN - 673572 BY ADVS. SRINATH GIRISH P.JERIL BABU RESPONDENT: KERALA STATE CO-OPERATIVE BANK LTD., KARAT BUILDING, KODUVALLY P.O., KOZHIKODE. REPRESENTED BY ITS MANAGER/AUTHORISED OFFICER, PIN - 673572 BY ADV P.C.SASIDHARAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 7836 OF 2025 2 2025:KER:28804 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. 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 committed default in repayment of a loan and the total overdue amount as on 02.04.2025 is Rs.6,65,795/-. 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 limited instalments and regularise the loan account. 4. 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 total overdue on condition that Rs.1,00,000/- shall be paid on or before 30.04.2025, a further sum of Rs.1,00,000/- on or before 15.05.2025 and the balance amount shall be paid in 8 equal monthly instalments, the first of which shall be paid on or before 16.06.2025 WP(C) NO. 7836 OF 2025 3 2025:KER:28804 and the subsequent instalments shall be paid on the 15th day of every succeeding months and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.6,65,795/- along with any accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner in the following manner: i. The petitioner shall pay a sum of Rs.1,00,000/- on or before 30.04.2025, a further sum of Rs.1,00,000/- on or before 15.05.2025 and the balance overdue amount along with any accrued interest, costs and charges shall be repaid in 8 equal monthly instalments; ii. The first instalment shall be paid on or before 16.06.2025 and the subsequent instalments shall be paid on or before the 15th day of every succeeding months; 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 WP(C) NO. 7836 OF 2025 4 2025:KER:28804 abeyance. The writ petition is disposed of as above. sd/- GOPINATH P. JUDGE Nsd WP(C) NO. 7836 OF 2025 5 2025:KER:28804 APPENDIX OF WP(C) 7836/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED BY THE CHIEF JUDICIAL MAGISTRATE COURT, KOZHIKODE IN CRL.MP. 243/2025. DATED 07-02-2025.