2025:KER:28791 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 3RD DAY OF APRIL 2025 / 13TH CHAITHRA, 1947 WP(C) NO. 8926 OF 2025 PETITIONER: BINI REJI, AGED 47 YEARS, W/O REJI MON, NEDUMPURATH HOUSE, KATHIKKADANPOYIL, PATHAR P O, MALAPPURAM DIST., PIN – 679334. BY ADVS. M.S.IMTHIYAZ AHAMMED SHIRAZ ABDULLA M.S. K.ABDUL NASSAR VISHNU DEV C.S. MUHAMMED BANI M. MEHARBAN RESPONDENT: THE NILAMBUR CO-OPERATIVE URBAN BANK LTD., REPRESENTED BY ITS ASST. GENERAL MANAGER CUM AUTHORIZED OFFICER- RAJANI K, 53 YEARS OF AGE, W/O VACHASPATHY, 'CHITHIRA' TNK ROAD, EDAKKARA P O, NILAMBUR VILLAGE, MALAPPURAM DIST, PIN – 679331. BY ADVS. RAMESH BABU T C.K.SREEJITH(K/2048/1999) NIMISHA P. SHANMUGHAN(K/000856/2022) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 8926 OF 2025 2 2025:KER:28791 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 was submitted on behalf of the respondent Bank that the petitioner committed default in repayment of a housing loan and a cash credit facility and the total overdue amount as on today (03.04.2025) is Rs.2,87,720/- (Rupees two lakhs eighty seven thousand seven hundred and twenty only). It was 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 overdue WP(C) NO. 8926 OF 2025 3 2025:KER:28791 amount along with any accrued interest, costs and charges in 12 instalments 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.2,87,720/-(Rupees two lakhs eighty seven thousand seven hundred and twenty only) 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 the overdue amount of Rs.2,87,720/- (Rupees two lakhs eighty seven thousand seven hundred and twenty only) along with any accrued interest, costs and charges in 12 equated monthly instalments; 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 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 abeyance. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE DK WP(C) NO. 8926 OF 2025 4 2025:KER:28791 APPENDIX OF WP(C) 8926/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COY OF THE ORDER IN MC NO. 92/2025 DTD 16-01-2025 OF THE CJM- MANJERI Exhibit P2 A TRUE COY OF THE NOTICE DTD 27-01-2025 ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER