2025:KER:27679 W.P (C) No.8137/2025 -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. 8137 OF 2025 PETITIONER/S: UDAYAN K.P., AGED 54 YEARS S/O. KARUNAKARAN, KUDAPURACKAL HOUSE, VADAKKUMBADU, MANNUR P.O., KADALUNDI, KOZHIKODE, PIN - 673328 BY ADVS. IPSITA OJAL ANIL KUMAR K.P. MARIYAMMA A.K. MANAS P HAMEED AMALJITH RESPONDENT/S: KERALA STATE CO-OPERATIVE BANK LTD., BOX NO.503, KALLAI ROAD, CHALAPPURAM P.O., KOZHIKODE, REPRESENTED BY ITS AUTHORISED OFFICER, PIN - 673002 OTHER PRESENT: SRI. P.C.SASIDHARAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27679 W.P (C) No.8137/2025 -2- J U D G M E N T Petitioner has 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 loan availed by 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. The learned counsel for the respondent bank submits that this is the second round of litigation at the instance of the petitioner. It is submitted that the present writ petition is not maintainable. It is submitted that the possession of the secured asset has been taken on 27-02-2025. However, it is submitted that this is Housing loan and considering the facts and circumstances of the case and purely as a matter of indulgence the bank is willing to accept the present overdue amount in some instalments and regularise the loan account. It is submitted that the overdue amount as on 20- 03-2025 is Rs.5,22,447/-. It is further submitted that this is the second writ petition at the instance of the petitioner, therefore, the number of instalments may be limited. 4. Having regard to the facts and circumstances of the case and the 2025:KER:27679 W.P (C) No.8137/2025 -3- submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs/instalments, I am of the view that the petitioner can be granted an opportunity to clear off the overdue amount on a condition that he will pay a sum of Rs.1,00,000/- on or before 30-04-2025 and the balance overdue amount in eight (8) equal monthly instalments first of which shall be paid on or before 30-05-2025 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.5,22,447/- along with interest, bank charges and costs from the petitioner and regularise the loan account of the petitioner in the following manner:- (i) The petitioner shall pay an amount of Rs.1,00,000/- on or before 30-04-2025 and balance overdue amount of Rs.4,22,447/- together with any accrued interest, bank charges and costs shall be repaid in eight equated monthly instalments; (ii) The first instalment shall be paid on or before 30-05-2025 and the subsequent instalments shall be paid on or before last working day of each succeeding month; 2025:KER:27679 W.P (C) No.8137/2025 -4- (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 abeyance. On remitting the amount equivalent to 50% of the total overdue amount and the petitioner paying all regular EMIs payable after 20-03-2025, the possession of the secured asset shall be restored to the petitioner. If the petitioner commits any further default the petitioner shall handover the vacant possession of the secured asset back to the Authorised Officer of the respondent bank. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE AMG 2025:KER:27679 W.P (C) No.8137/2025 -5- APPENDIX OF WP(C) 8137/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE ORDER DATED 10TH MARCH 2022 IN WPC 7900 OF 2022 Exhibit P2 A TRUE COPY OF THE ADVOCATE COMMISSIONER APPOINTED BY THE HON'BLE COURT HAS ISSUED NOTICE DATED 30.01.2025