2025:KER:27300 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 28TH DAY OF MARCH 2025 / 7TH CHAITHRA, 1947 WP(C) NO. 9201 OF 2025 PETITIONER: LENIN YESUDAS, AGED 36 YEARS S/O. JOY, NELLIKKAPPILLI HOUSE, KUMARAPURAM P.O., MORAKKALA, KUNNATHUNAD, ERNAKULAM, PIN - 683565 BY ADVS. M.R.SASITH R.K.CHIRUTHA ANJANA SURESH.E REETHU JACOB LIDHIYA GEORGE HASNA JABIL RESPONDENTS: 1 THE AUTHORIZED OFFICER, CANARA BANK, REGIONAL OFFICE, 3RD FLOOR, METRO STATION COMPLEX, M.G. ROAD, ERNAKULAM, PIN - 682035 2 CANARA BANK, KAKKANAD BRANCH, DP 14321, JOSH TOWERS, 1ST FLOOR, PADAMUGAL, KAKKANAD, ERNAKULAM, REPRESENTED BY IT’S BRANCH MANAGER, PIN - 682021 OTHER PRESENT: SRI. M.GOPIKRISHNAN NAMBIAR, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION 2025:KER:27300 2 WP(C) NO. 9201 OF 2025 ON 28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27300 3 WP(C) NO. 9201 OF 2025 JUDGMENT Petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the 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 outstanding amount in instalments. 3. It was submitted on behalf of the respondent bank that the petitioner committed default in repayment of housing loan and the outstanding amount is Rs.24,07,414/- (Rupees twenty four lakhs seven thousand four hundred and fourteen 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 outstanding amount in limited instalments. 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 on condition that Rs.2,00,000/- (Rupees two lakhs only) shall be paid on or before 10.04.2025 and the balance amount shall be paid in 12 equal monthly instalments, the first of which shall be paid on or before 2025:KER:27300 4 WP(C) NO. 9201 OF 2025 09.05.2025 and the subsequent instalments shall be paid on the 10th day of every succeeding months. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the outstanding amount of Rs.24,07,414/- (Rupees twenty four lakhs seven thousand four hundred and fourteen only) along with accrued interest, costs and charges from the petitioner in the following manner: (i)The petitioner shall pay a sum of Rs.2,00,000/- (Rupees two lakhs only)on or before 10.04.2025; the balance outstanding amount along with any accrued interest, costs and charges shall be repaid in 12 equal monthly instalments; (ii)The first instalment shall be paid on or before 09.05.2025 and the subsequent instalments shall be paid on the 10th day of every succeeding months; (iii)In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; (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 STB 2025:KER:27300 5 WP(C) NO. 9201 OF 2025 APPENDIX OF WP(C) 9201/2025 PETITIONER EXHIBITS EXHIBIT-P1 TRUE COPY OF THE SALE NOTICE DATED 24.06.2024 ISSUED BY THE 1ST RESPONDENT. EXHIBIT-P2 THE TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 04.01.2025.