WP(C) NO. 10034 OF 2025 1 2025:KER:28573 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 2ND DAY OF APRIL 2025 / 12TH CHAITHRA, 1947 WP(C) NO. 10034 OF 2025 PETITIONER: SUHAIB K, AGED 43 YEARS S/O KUNJUMON, NAJU MANZIL, VENNAKKARA, NURANI P.O., PALAKKAD, PIN - 678004 BY ADV M.R.SASITH RESPONDENTS: 1 THE AUTHORIZED OFFICER, THE SOUTH INDIAN BANK,REGIONAL OFFICE, D&D ARCADE, MANAPULLIKAVU, KUNNATHURMEDU P.O., PALAKKAD, PIN – 678013 2 THE SOUTH INDIAN BANK, MELMURI BRANCH, REPRESENTED BY ITS BRANCH MANAGER, MELAMURI, PALLIPURAM, PALAKKAD, PIN – 678006 3 THE BRANCH MANAGER, THE SOUTH INDIAN BANK,MELMURI BRANCH, MELAMURI, PALLIPURAM, PALAKKAD, PIN – 678006 BY ADVS. K.MADHUSOODANAN MATHEW JACOB (KUNNATHU)(K/398/2013) SYRIAC JOSEPH(K/304/1980) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 10034 OF 2025 2 2025:KER:28573 JUDGMENT The petitioner has availed credit facilities from the respondent bank including a cash credit facility and a housing loan. On default being committed, proceedings were initiated against the petitioner under the provisions of the SARFAESI Act, prompting the petitioner to approach this Court by filing the above Writ Petition. 2. The learned counsel for the petitioner submits that the petitioner has remitted a sum of Rs.10,00,000/- towards the loan liabilities, after the filing of this Writ Petition. It is submitted that the amount has been remitted on 27.03.2025. It is submitted that the petitioner may be therefore be permitted to clear the balance liability in the cash credit facility in installments and to regularize the housing loan account by remitting the overdue amount. 3. The learned counsel appearing for the respondent bank submits that the petitioner has remitted a sum of Rs.10,00,000/- on 27.03.2025 and after giving credit to the said amount, the outstanding amount in the cash credit facility as on today (02.04.2025) is Rs.21,68,118/- and the overdue amount in the housing loan account as on 12.03.2025 is Rs.94,413/-. It is submitted that unless the entire amount in the cash credit facility is WP(C) NO. 10034 OF 2025 3 2025:KER:28573 paid, the housing loan account of the petitioner cannot be regularized. It is submitted that the proceedings are only at the stage of notice under Section 13(2) of the SARFAESI Act. It is further submitted that the petitioner has already approached the bank and has promised to settle the liabilities immediately and therefore, the number of installments may be limited. 4. Having heard the learned counsel for the petitioner and the learned Standing Counsel for the respondent and 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 in respect of cash credit facility in eight (8) instalments. The entire overdue amount of Rs.94,413/- in respect of home loan shall be paid on or before 30.04.2025. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.94,413/- (as on 12.03.2025) in respect of home loan by 30.04.2025 and the entire outstanding amount of Rs.21,68,118/- (as on 02.04.2025) in respect of cash credit facility along with bank charges from the petitioner and regularise the loan account of the petitioner in the following manner: WP(C) NO. 10034 OF 2025 4 2025:KER:28573 (i) Petitioner shall pay the overdue amount of Rs.94,113/- in the housing loan account (as on 12.03.2025) together with any accrued interests, charges and costs on or before 30.04.2025; (ii) The outstanding amount of Rs.21,68,118/- (as on 02.04.2025) in respect of cash credit facility together with any accrued interest/costs shall be repaid in eight (8) equated monthly instalments; (iii) The first instalment in respect of the cash credit facility shall be paid on or before 30.04.2025 and subsequent instalments shall be paid on or before 30th day of every succeeding month; (iv) Petitioner shall continue to pay the regular EMIs/instalments in respect of the housing loan along with the instalments as directed above; (v) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with law; (vi) 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 Nsd WP(C) NO. 10034 OF 2025 5 2025:KER:28573 APPENDIX OF WP(C) 10034/2025 PETITIONER EXHIBITS Exhibit-P1 THE TRUE COPY OF THE POSSESSION NOTICE DATED 12.02.2025 ISSUED BY THE 1ST RESPONDENT TO THE PETITIONER.