WP(C) NO. 9639 OF 2025 1 2025:KER:30906 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. MONDAY, THE 7TH DAY OF APRIL 2025 / 17TH CHAITHRA, 1947 WP(C) NO. 9639 OF 2025 PETITIONERS : 1 RAJANI R, AGED 45 YEARS W/O. RAGHAVAN, MECHIRAVEEDU, CHERUPOIKATHEKKU, KAITHACODE (VIA), KOLLAM, PIN - 691543 2 RAMACHANDRAN S, AGED 56 YEARS MECHIRAVEEDU, CHERUPOYKA SOUTH, KAITHOCODE (VIA), KOLLAM, PIN - 691543 BY ADV N.RENJU RESPONDENT: KOTTARAKKARA URBAN CO-OPERATIVE BANK LTD, NO. 1909,REPRESENTED BY AUTHORIZED OFFICER,KOTTARAKKARA CO-OPERATIVE URBAN BANK GROUP,JOINT REGISTRAR (GENERAL) OFFICE,OYUR-KOTTARAKARA ROAD, KOTTARAKKARA,KOLLAM, PIN - 691506 BY ADV Swapna Vijayan THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 9639 OF 2025 2 2025:KER:30906 JUDGMENT The petitioners have approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent bank for recovery of the amounts due from the petitioners. 2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account. 3. It is submitted on behalf of the respondent bank that the petitioners committed default in repayment of a loan and the total overdue amount as on 26.03.2025 is Rs.2,12,623/-. It is 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 overdue amount in limited instalments and regularise the loan account. 4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the total overdue in ten equal monthly instalments, the first of which shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on the 30th day of every succeeding months and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. 5. Accordingly, there will be a direction to the respondent bank to WP(C) NO. 9639 OF 2025 3 2025:KER:30906 accept repayment of the entire overdue amount of Rs.2,12,623/- along with any accrued interest, costs and charges from the petitioners and regularise the loan account of the petitioners in the following manner: i. The petitioners shall pay the overdue amount along with any accrued interest, costs and charges in ten equal monthly instalments; ii. The first instalment shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on or before the 30th day of every succeeding months; iii. petitioners shall continue to pay the regular EMI’s/instalments along with the instalments directed above; iv. In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; v. 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 Nsd WP(C) NO. 9639 OF 2025 4 2025:KER:30906 APPENDIX OF WP(C) 9639/2025 petitioners EXHIBITS Exhibit P1 TRUE COPY OF POSSESSION NOTICE DATED 07.03.2025 ISSUED BY THE RESPONDENT