2025:KER:26277 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. 9843 OF 2025 PETITIONER: NARAYANAN P.T., AGED 72 YEARS, S/O. THEVAN, POONTHEDATH HOUSE, KOTTAPPADY P.O., UPPUKANDAM, AIROORPADAM, ERNAKULAM, PIN – 686 692. BY ADV KEVIN JAMES RESPONDENTS: 1 KERALA GRAMIN BANK, KOTHAMANGALAM BRANCH, MARKET ESTATE, NEAR MAR BASELIOUS MEMORIAL HOSPITAL, KOTHAMANGALAM P.O., ERNAKULAM, REPRESENTED BY ITS MANAGER, PIN – 686 691. 2 THE AUTHORIZED OFFICER, KERALA GRAMIN BANK, REGIONAL OFFICE, COASTAL TOWERS, PIPELINE ROAD, PALARIVATTOM, ERNAKULAM, PIN – 682 025. BY ADV. JAWAHAR JOSE, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:26277 WP(C) 9843/2025 2 JUDGMENT The petitioner availed a housing loan and an agricultural loan from the 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. The learned counsel appearing for the respondent bank submits that the tenure of both the loans has expired, and the total outstanding amount, as on 25-03-2025, is Rs.8,84,934/-. It is submitted that the bank is willing to waive a sum of Rs.84,934/- and accept Rs.8,00,000/- in full and final settlement of both loans, provided the petitioner pays the amount of Rs.8,00,000/- in four monthly instalments. 3. The learned counsel appearing for the petitioner submits that the petitioner is in highly impecunious 2025:KER:26277 WP(C) 9843/2025 3 circumstances and considering the same, the petitioner may be permitted to pay off the sum of Rs.8,00,000/- in 10 instalments. 4. Having heard the learned counsel appearing for the petitioner and the learned counsel appearing for the respondent bank and taking into consideration the extremely fair stand taken by the respondent bank before this Court, this writ petition will stand disposed of in the following manner: (i) The petitioner shall be permitted to pay off an amount of Rs.8,00,000/- as full and final settlement of both the loans availed by the petitioner from the respondent bank in 10 equal monthly instalments; (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:26277 WP(C) 9843/2025 4 (iv) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance. Writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE ats 2025:KER:26277 WP(C) 9843/2025 5 APPENDIX OF WP(C) 9843/2025 PETITIONER’S EXHIBITS Exhibit P-1 THE TRUE COPY OF THE SALE NOTICE DATED 27.06.2024 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER