2025:KER:26169 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 25TH DAY OF MARCH 2025 / 4TH CHAITHRA, 1947 WP(C) NO. 9082 OF 2025 PETITIONER: SALAM, AGED 53 YEARS, S/O. MUHAMMED, KALLIDUMBAN HOUSE, NARIYAKKAM POYIL, CHUNDALAKUNNU, NEELANCHERY P.O., KALIKAVU, MALAPPURAM, PIN – 676 525. BY ADVS. SIDHARTH O. SUSANTH SHAJI ALBIN A. JOSEPH NEKHA VARGHESE RESPONDENTS: 1 THE NILABMUR CO-OPEREATIVE URBAN BANK LIMITED, POST BOX NO.10, HEAD OFFICE, NILAMBUR P.O., MALAPPURAM DIST., KERALA, REPRESENTED BY ITS SECRETARY, PIN – 679 329. 2 AUTHORISED OFFICER, THE NILAMBUR CO-OP. URBAN BANK LTD., THE NILAMBUR CO-OP. URBAN BANK LTD., POST BOX NO.10, HEAD OFFICE, NILAMBUR P.O., MALAPPURAM DIST., KERALA, PIN – 679 329. BY ADVS. RAMESH BABU T (SC) C.K.SREEJITH(K/2048/1999) NIMISHA P. SHANMUGHAN(K/000856/2022) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:26169 WP(C) 9082/2025 2 JUDGMENT Petitioner availed a cash credit facility from the 1st respondent bank. On default being committed proceedings have been initiated against the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), prompting the petitioner to approach this Court by filing the above writ petition. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the outstanding amount in installments. 3. The learned counsel appearing for the respondent bank submits that the tenure of the loan has expired and therefore, the loan account cannot be regularised. It is submitted that the outstanding amount, as on 25-03-2025, is Rs.11,39,088/-. It is submitted that the respondent bank has no objection in some reasonable installments being granted to the petitioner to clear the outstanding amount. 2025:KER:26169 WP(C) 9082/2025 3 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 outstanding amount in 12 installments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.11,39,088/- along with any accrued interest, cost and bank charges from the petitioner in the following manner: (i) The petitioner shall pay the outstanding amount of Rs.11,39,088/- together with any accrued interest, cost and bank charges in 12 equated monthly installments; (ii) The first installment shall be paid on or before 15-04-2025. The subsequent installments shall be paid on or before the 15th day of the succeeding months; (iii) In the event of default of any one installment, the respondent bank shall be entitled to proceed in accordance with the law; 2025:KER:26169 WP(C) 9082/2025 4 (iv) 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 ats 2025:KER:26169 WP(C) 9082/2025 5 APPENDIX OF WP(C) 9082/2025 PETITIONER’S EXHIBITS Exhibit P1 TRUE PHOTOSTAT COPY OF THE ORDER DATED 28.01.2025 IN MC NO. 139/2025 ON THE FILES OF THE HON’BLE CHIEF JUDICIAL MAGISTRATE COURT, MANJERI Exhibit P2 TRUE PHOTOSTAT COPY OF THE PETITION IN MC NO. 139/2025 ON THE FILES OF THE HON’BLE CHIEF JUDICIAL MAGISTRATE COURT, MANJERI ALONG WITH AFFIDAVIT AND DOCUMENTS Exhibit P3 TRUE PHOTOSTAT COPY OF THE NOTICE DATED 04.03.2025 ISSUED BY THE ADVOCATE COMMISSIONER IN IN MC NO. 139/2025 ON THE FILES OF THE HON’BLE CHIEF JUDICIAL MAGISTRATE COURT, MANJERI Exhibit P4 TRUE PHOTOSTAT COPY OF THE REPRESENTATION SENT THROUGH EMAIL BY THE PETITIONER DATED 05.03.2025