2025:KER:27620 W.P (C) No.7617/2025 -1- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 1ST DAY OF APRIL 2025 / 11TH CHAITHRA, 1947 WP(C) NO. 7617 OF 2025 PETITIONER/S: 1 DEVADAS C., AGED 58 YEARS S/O. CHELLAYA VYDHIYAN, TC 8/1466(3), VRA B-6, VADAKARA, PANNAYIL VEEDU, ARAYYALOOR, THIRUMALA P.O., THIRUVANANTHAPURAM, PIN - 695006 2 KUNJUMOL S., AGED 52 YEARS W/O. DEVADAS C., TC 8/1466(3), VRA B-6, VADAKARA, PANNAYIL VEEDU, ARAYYALOOR, THIRUMALA P.O., THIRUVANANTHAPURAM, PIN - 695006 BY ADVS. RAGHUL SUDHEESH AMBILY T. VENU KRISHNAVENI M. HARI SANKAR D. RESPONDENT/S: THE AUTHORIZED OFFICER, KARAMANA CO-OPERATIVE URBAN BANK, CO-OPERATIVE URBAN BANK LTD. NO. 1761, KARAMANA P.O., THIRUVANANTHAPURAM, PIN - 695002 BY ADV R.S.KALKURA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27620 W.P (C) No.7617/2025 -2- J U D G M E N T Petitioners have approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due upon a Housing loan availed by the petitioners. 2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account. 3. The learned counsel for the respondent bank submits that this is the second round of litigation at the instance of the petitioners. It is submitted that though this writ petition is technically not maintainable, since the petitioners have paid certain amounts pursuant to Ext.P1 judgment, the bank is willing to accept the present overdue amount in some limited instalments and regularise the loan account. It is submitted that the present overdue amount as on 01-04-2025 is Rs.1,85,000/-. 4. Having heard the learned counsel for the petitioners and the learned Standing Counsel for the respondent Bank and having regard to the facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact that the petitioners have undertaken to clear off the overdue amount along with regular EMIs/instalments, I am of the 2025:KER:27620 W.P (C) No.7617/2025 -3- view that the petitioners can be granted an opportunity to clear off the overdue amount in six (6) equal monthly instalments first of which shall be paid on or before 10-04-2025 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.1,85,000/- along with interest, bank charges and costs from the petitioners and regularise the loan account of the petitioners in the following manner: (i) The overdue amount of Rs.1,85,000/- together with any accrued interest, bank charges and costs shall be repaid in six 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 20th working day of each succeeding month; (iii) Petitioners 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; 2025:KER:27620 W.P (C) No.7617/2025 -4- (v) In order to enable the petitioners 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 AMG 2025:KER:27620 W.P (C) No.7617/2025 -5- APPENDIX OF WP(C) 7617/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE JUDGMENT DATED 28.02.2023 OF WP (C) NO. 3345/2023 Exhibit P2 TRUE COPY OF THE NOTICE BY ADVOCATE COMMISSIONER DATED 07.02.2025 TO SURRENDER THE POSSESSION OF THE PROPERTY AS PER ORDER DATED 31/01/2025 IN MC 57/2025 ON THE FILE OF HONORABLE CHIEF JUDICIAL MAGISTRATE COURT, THIRUVANANTHAPURAM Exhibit P3 TRUE COPY OF THE RECEIPT EVIDENCING THE PAYMENT OF RS. 50,000/- TO THE RESPONDENT