2025:KER:28793 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. 8943 OF 2025 PETITIONERS: 1 SARADA SREEDHARAN, AGED 74 YEARS, W/O SREEDHARAN,SREE NILAYAM HOUSE, S.N. PURAM,P.O.,KOTTAYAM, PIN – 686502. 2 JAYAPRAKASH P.S., AGED 52 YEARS S/O SREEDHARAN, SREE NILAYAM HOUSE, S.N. PURAM,P.O.,KOTTAYAM, PIN – 686502. BY ADV U.R.HARSHAKUMAR RESPONDENTS: 1 KERALA STATE CO- OPERATIVE BANK (FORMERLY DISTRICT CO- OPERATIVE BANK KOTTAYAM), REPRESENTED BY THE AUTHORIZED OFFICER ,REGIONAL OFFICE, KOTTAYAM, PIN – 695033. 2 KERALA STATE CO- OPERATIVE BANK, PALLIKKATHODU BRANCH, REPRESENTED BY THE BRANCH MANAGER PALLIKKATHODU, KOTTAYAM, PIN – 686503. SRI. ATHUL SHAJI, SC 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. 8943 OF 2025 2 2025:KER:28793 JUDGMENT Petitioners have approached this Court challenging the proceedings initiated against the petitioners under the provisions of the SARFAESI Act to recover amounts due under credit facilities availed by the petitioners from the respondent Bank. 2. This Court on 06.03.2025, passed the following order:- “Issue urgent notice on admission by speed post to the respondents. 2. There will be an interim order staying further proceedings pursuant to Ext.P3 for a period of one month on condition that the petitioners shall remit an amount of 1.5 lakh on or before 31.03.2025. ₹ Post on 03.04.2025.” 3. The learned counsel appearing for the respondent Bank submits that the petitioners have not complied with the condition imposed in the interim order dated 06.03.2025. 4. The failure to comply with the condition imposed in the interim order would have normally entailed the WP(C) NO. 8943 OF 2025 3 2025:KER:28793 dismissal of this writ petition. However, the learned counsel appearing for the petitioners submit that the petitioners have entered into an agreement for sale of their property and the entire amount due to the Bank will be settled within a period of one month from today (03.04.2025). 5. The learned counsel for the respondent Bank has no objection. Taking the aforesaid submissions into consideration, this writ petition will stand disposed of directing that the proceedings against the petitioners under the provisions of the SARFAESI Act shall remain suspended for a period of one month from today (03.04.2025) to enable the petitioners to clear the entire liability due to the respondent Bank. If the petitioners fail to clear the entire liability within the aforesaid period of one month, it will be open to the respondent Bank to continue with the proceedings initiated against the petitioners. It is made clear that no further extension of time will be granted under any circumstances. Sd/- GOPINATH P. JUDGE DK WP(C) NO. 8943 OF 2025 4 2025:KER:28793 APPENDIX OF WP(C) 8943/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE SAID NOTICE DTD.31- 01-2024 ISSUED BY THE 1ST RESPONDENT TO THE 1ST PETITIONER Exhibit P2 TRUE COPY OF THE NOTICE DATED 01-02- 2025 ISSUED BY THE 2ND RESPONDENT TO THE 2ND PETITIONER Exhibit P3 TRUE COPY OF THE NOTICE DATED 22-02- 2025 ISSUED BY THE ADVOCATE COMMISSIONER IN THIS REGARD