2025:KER:29087 W.P.(C)No.9468 of 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 4TH DAY OF APRIL 2025 / 14TH CHAITHRA, 1947 WP(C) NO. 9468 OF 2025 PETITIONER/S: 1 MATHEW A.J., AGED 73 YEARS S/O. ANTONY, OUSEPPARAMBIL HOUSE, ULLANADU P.O., PALA, KOTTAYAM, PIN - 686651 2 ELSAMMA MATHEW, AGED 72 YEARS W/O. MATHEW, OUSEPPARAMBIL HOUSE, ULLANADU P.O., PALA, KOTTAYAM, PIN - 686651 BY ADVS. BINDUMOL JOSEPH C.P.GOPIKA M.V.RAHUL GREESHMA K. RESPONDENT/S: 1 THE KERALA STATE CO-OPERATIVE BANK LTD., KOTTAYAM REGIONAL OFFICE, REPRESENTED BY ITS AUTHORISED OFFICER, CENTRAL JUNCTION, KOTTAYAM, PIN - 686001 2 AUTHORIZED OFFICER, KERALA STATE CO-OPERATIVE BANK LTD., KOTTAYAM 2025:KER:29087 W.P.(C)No.9468 of 2025 2 REGIONAL OFFICE, CENTRAL JUNCTION, KOTTAYAM, PIN - 686001 3 BRANCH MANAGER, KERALA STATE CO-OPERATIVE BANK LTD., PALA MAIN BRANCH, PALA, KOTTAYAM, KERALA, PIN - 686575 OTHER PRESENT: SRI. ATHUL SHAJI, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:29087 W.P.(C)No.9468 of 2025 3 J U D G M E N T The petitioners availed a business loan from the respondent bank. On default being committed, proceedings have been initiated against the petitioners under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prompting the petitioners to approach this court by filing the above writ petition. 2. The learned counsel appearing for the petitioners would submit that the petitioners may be permitted to clear the entire liability in installments. 3. The learned counsel appearing for the respondent bank submits that the outstanding amount due from the petitioner as on 26.03.2025 is Rs.20,82,178/-. It is submitted that some reasonable installments can be given to the petitioners to clear the entire liability. 4. Having heard the learned counsel for the petitioners and the learned Standing counsel appearing for the respondent bank and having regard to the facts and circumstances of the case and considering the 2025:KER:29087 W.P.(C)No.9468 of 2025 4 submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the outstanding amount in fifteen installments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire amount of Rs.20,82,178/- along with interest, bank charges and costs from the petitioners in the following manner: (i) The outstanding amount of Rs.20,82,178/- together with any accrued interest, bank charges and costs shall be repaid in fifteen (15) equated monthly instalments; (ii) The first instalment shall be paid on or before 30.04.2025 and subsequent instalments shall be paid on or before the last working day of each succeeding month; (iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; 2025:KER:29087 W.P.(C)No.9468 of 2025 5 (iv) In order to enable the petitioners 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 Scl/ 2025:KER:29087 W.P.(C)No.9468 of 2025 6 APPENDIX OF WP(C) 9468/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE SALE NOTICE DATED 14.02.2025 ISSUED BY THE RESPONDENTS