W.P.(C.) No. 8931 of 2025 1 2025:KER:28093 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 27TH DAY OF MARCH 2025 / 6TH CHAITHRA, 1947 WP(C) NO. 8931 OF 2025 PETITIONERS: ABOOBACKER KUNOOL, AGED 62 YEARS S/O. MAMU, SHABNA MANZIL, NEAR KANAL MATTANNUR, P.O. MATTANNUR, PAZHASSI, KAYANI, IRITTY TALUK, KANNUR DISTRICT, PIN - 670702 BY ADVS. CIBI THOMAS SWARNA THOMAS ANUSREE K. RESPONDENTS: THE KERALA STATE CO-OPERATIVE BANK LTD., HEAD OFFICE AT THIRUVANANTHAPURAM, REPRESENTED BY ITS AUTHORIZED OFFICER, REGIONAL OFFICE, KANNUR, PIN - 670001 BY ADV M.SASINDRAN . THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: W.P.(C.) No. 8931 of 2025 2 2025:KER:28093 GOPINATH P., J. --------------------------------- W.P.(C.) No. 8931 of 2025 ------------------------------------- Dated this the 27th day of March, 2025 JUDGMENT 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. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount as on 7-03-2025 is Rs.8,99,597/-. 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. W.P.(C.) No. 8931 of 2025 3 2025:KER:28093 4. Having heard the learned counsel for the petitioner 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 petitioner has undertaken to clear off the overdue amount along with regular EMIs/installments, I am of the view that the petitioner can be granted an opportunity to clear off the overdue amount in twelve (12) equal monthly instalments first of which shall be paid on or before 05.04.2025 and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. 5. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.8,99,597 /- 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 the overdue amount of Rs.8,99,597 /- together with any accrued interest, bank charges and costs in twelve equated monthly W.P.(C.) No. 8931 of 2025 4 2025:KER:28093 instalments; (ii) The first instalment shall be paid on or before 05.04.2025 and the subsequent instalments shall be paid on or before 5th day of each succeeding month; (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 sjb/27.03.25 W.P.(C.) No. 8931 of 2025 5 2025:KER:28093 APPENDIX OF WP(C) 8931/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 17.12.2020 ISSUED UNDER SECTION 13 (2) OF THE ACT Exhibit P2. TRUE COPY OF THE ORDER DATED 19.11.2021 OF THE CHIEF JUDICIAL MAGISTRATE, THALASSERY IN CMP.NO. 2817/2021 Exhibit P3. TRUE COPY OF THE RECEIPT DATED 24.09.2020 EVIDENCING PAYMENT OF RS.1 LAKH Exhibit P4. TRUE COPY OF THE RECEIPT DATED 27.01.2021 EVIDENCING PAYMENT OF RS.15,000/- Exhibit P5. TRUE COPY OF THE RECEIPT DATED 11.02.2021 EVIDENCING PAYMENT OF RS.10,000/- Exhibit P6. TRUE COPY OF THE RECEIPT DATED 10.08.2021 EVIDENCING PAYMENT OF RS.15,000/- Exhibit P7. TRUE COPY OF THE RECEIPT DATED 18.01.2022 EVIDENCING PAYMENT OF RS.1 LAKH Exhibit P8. TRUE COPY OF THE RECEIPT DATED 13.06.2022 EVIDENCING PAYMENT OF RS.50,000/- Exhibit P9. TRUE COPY OF THE RECEIPT DATED 27.07.2022 EVIDENCING PAYMENT OF RS.35,000/- Exhibit P10. TRUE COPY OF THE TEST REPORT ISSUED FROM MALABAR CANCER CENTRE, THALASSERY TO THE WIFE OF THE PETITIONER