2025:KER:27584 WP(C) NO. 9771 OF 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 1ST DAY OF APRIL 2025 / 11TH CHAITHRA, 1947 WP(C) NO. 9771 OF 2025 PETITIONER/S: SUSHAMA K.P,AGED 44 YEARS W/O. RAJEEVAN, ARAVINDAM HOUSE, CHIRAKKAM KUNNU PO, RAMANATTUKARA, KOZHIKODE DISTRICT, PIN - 673633 BY ADVS. SAJEEVAN KURUKKUTTIYULLATHIL VISHNU PRABHAKAR V.S. N.F.JOHN JOSEPH THOMAS ASHWIN K.U. SUNIL M.S. JOHN PAUL PADIKKALA RESPONDENT/S: 1 AUTHORISED OFFICER/AREA MANAGER, KERALA STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE, KOZHIKODE, KALLAI ROAD PO, KOZHIKODE DISTRICT, PIN - 673002 2 THE MANAGER, THE KERALA STATE CO-OPERATIVE BANK LTD. ,RAMANATTUKARA BRANCH, RAMANATTUKARA, KOZHIKODE DISTRICT, PIN - 673633 SRI. P.C. SASIDHARAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27584 WP(C) NO. 9771 OF 2025 2 JUDGMENT Petitioner has approached this Court challenging proceedings initiated by the respondent Bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 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 liability in instalments. 3. Learned Standing Counsel appearing for the respondent bank submits that the petitioner availed a loan from the respondent bank and committed default in repayment. It is also submitted that regularisation is not possible as the term of the loan is already over. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept the repayment of the outstanding amount in limited instalments provided a substantial amount is paid immediately. According to the learned Standing Counsel appearing for the respondent, as on 13.03.2025, the balance amount which is liable to be repaid is Rs.87,51,887/- (Rupees 2025:KER:27584 WP(C) NO. 9771 OF 2025 3 Eighty seven lakh fifty one thousand eight hundred and eighty seven only). 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 of Rs.87,51,887/- (Rupees Eighty seven lakh fifty one thousand eight hundred and eighty seven only) on a condition that the petitioner shall pay an amount of Rs.5,00,000/- (Rupees Five lakh only) on or before 15.04.2025 and the balance amount along with any accrued interest, cost and charges in ten instalments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.87,51,887/- (Rupees Eighty seven lakh fifty one thousand eight hundred and eighty seven only) along with any accrued interest, cost and bank charges from the petitioner in the following manner: (i) Petitioner shall pay an amount of Rs.5,00,000/- (Rupees Five lakh only) on or before 15.04.2025; (ii) The balance outstanding amount of Rs.82,51,887/- (Rupees Eighty two lakh fifty one thousand eight hundred and eighty seven only) shall be paid in ten equated monthly instalments along with any accrued interest, cost charges; 2025:KER:27584 WP(C) NO. 9771 OF 2025 4 (iii) The first instalment shall be paid on or before 15.05.2025 and the subsequent instalments shall be paid on or before the 15th day of the succeeding months; (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 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 ajt 2025:KER:27584 WP(C) NO. 9771 OF 2025 5 APPENDIX OF WP(C) 9771/2025 PETITIONER EXHIBITS Exhibit P-1 A TRUE COPY OF LETTER ISSUED BY THE 2ND RESPONDENT DATED 13.01.2025 Exhibit P-2 A TRUE COPY OF POSSESSION NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 12.02.2025.