2025:KER:27283 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. 10044 OF 2025 PETITIONER: ABOOBACKER, AGED 52 YEARS S/O. MUHAMMED KUTTY,RARUVALAPPIL HOUSE, P.O. PURANG, MALAPPURAM, PIN - 679584 BY ADVS. ABDUL RAOOF PALLIPATH E.MOHAMMED SHAFI PRAJIT RATNAKARAN KRISHNAPRIYA R. SOORYA K. ANJU DONY RESPONDENTS: 1 PONNANI CO-OPERATIVE URBAN BANK, LHEAD OFFICE, C.V. JUNCTION,LTD, PONNANI, MALAPPURAM REPRESENTED BY THE AUTHORIZED OFFICER, PIN - 679577 2 THE BRANCH MANAGER, PONNANI CO-OPERATIVE URBAN BANK LTD,HEAD OFFICE ,C.V. JUNCTION, PONNANI, MALAPPURAM, PIN - 679577 BY ADVS. SHOBY K.FRANCIS AGI SHOBY(A-768) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION 2025:KER:27283 2 WP(C) NO. 10044 OF 2025 ON 28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27283 3 WP(C) NO. 10044 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 a mortgage overdraft loan and the outstanding amount as on 17.03.2025 is Rs.27,65,022/-(Rupees twenty seven lakhs sixty five thousand and twenty two 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 2025:KER:27283 4 WP(C) NO. 10044 OF 2025 the petitioner can be granted an opportunity to repay the outstanding amount in 10 instalments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.27,65,022 /-(Rupees twenty seven lakhs sixty five thousand and twenty two only) along with any accrued interest, costs and charges from the petitioner in the following manner: (i)The outstanding amount of Rs.27,65,022/-(Rupees twenty seven lakhs sixty five thousand and twenty two only) along with any accrued interest, costs and charges shall be repaid in 10 equated monthly instalments; (ii)The first instalment shall be paid on or before 10.04.2025 and the subsequent instalments shall be paid on or before the 10th day of every succeeding months; (iii)In the event of default of any one instalment, the 2025:KER:27283 5 WP(C) NO. 10044 OF 2025 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:27283 6 WP(C) NO. 10044 OF 2025 APPENDIX OF WP(C) 10044/2025 PETITIONER EXHIBITS EXHIBIT P1 A TRUE COPY OF THE NOTICE DATED 19.01.2022 ISSUED BY 2ND RESPONDENT EXHIBIT P2 A TRUE COPY OF THE NOTICE DATED 8.3.2025 ISSUED BY THE COMMISSIONER