2025:KER:27591 WP(C) NO. 10248 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. 10248 OF 2025 PETITIONER/S: DEVAKI, AGED 70 YEARS W/O. BALAN, KALARICKAL HOUSE, KATTAMKUNNU, KURUMBATHUR P.O., TIRUR, MALAPPURAM, PIN - 676301 BY ADV M.R.SASITH RESPONDENT/S: 1 THE AUTHORIZED OFFICER,THE KOTTAKKAL URBAN CO-OPERATIVE BANK LTD. NO.1378, HEAD OFFICE, KOTTAPPADY, KOTTAKKAL, MALAPPURAM, PIN - 676503 2 THE KOTTAKKAL URBAN CO-OPERATIVE BANK LTD. NO.1378, PUTHANANGADI BRANCH, REPRESENTED BY ITS BRANCH MANAGER, MALAPPURAM, PIN - 679321 3 THE BRANCH MANAGER, THE KOTTAKKAL URBAN CO-OPERATIVE BANK LTD. NO.1378, PUTHANANGADI BRANCH, MALAPPURAM, PIN - 679321 BY ADVS. Devaprasanth P.J SMINI JOSE(K/262/2015) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27591 WP(C) NO. 10248 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 overdue amount in instalments and to obtain regularisation of the loan account. 3. It is submitted on behalf of the respondent bank that the petitioner availed a term loan from the respondent bank and committed default in repayment and the overdue amount, as on 01.04.2025, would come to Rs.3,34,835/- (Rupees Three lakh thirty four thousand eight hundred and thirty five only). It is submitted that, the sale of the property of the petitioner is scheduled to be held on 22.04.2025. It is submitted that, while the bank has no objection in granting some limited instalments to the petitioner to clear the overdue amount, the petitioner may be required to pay some substantial amount before the date of sale to prove bona 2025:KER:27591 WP(C) NO. 10248 OF 2025 3 fides. 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 overdue amount of Rs.3,34,835/- (Rupees Three lakh thirty four thousand eight hundred and thirty five only) on a condition that the petitioner shall pay an amount of Rs.1,00,000/- on or before 21.04.2025 and the balance amount along with any accrued interest, cost and charges in ten instalments 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 accept repayment of the entire overdue amount of Rs.3,34,835/- (Rupees Three lakh thirty four thousand eight hundred and thirty five only) along with accrued interest, cost and bank charges from the petitioner and regularise the loan account of the petitioner in the following manner:- (i) The petitioner shall pay an amount of Rs.1,00,000/- on or before 21.04.2025 ; (ii) If the petitioner remits the amount of Rs.1 lakh by 2025:KER:27591 WP(C) NO. 10248 OF 2025 4 21.04.2025 as directed above, any sale of the property of the petitioner (to be held on 22.04.2025) shall not be confirmed. It will also be open to the respondent bank to adjourn the sale, if it wishes to do so, on remittance of the above amount of Rs.1 lakh. If the petitioner fails to remit the amount of Rs.1 lakh by 21.04.2025, it will be open to the respondent bank to continue with the sale proceedings initiated against the petitioner. (iii) The balance overdue amount of Rs.2,34,835/- (Rupees Two lakh thirty four thousand eight hundred and thirty five only) along with any accrued interest, cost and charges shall be paid in ten equated monthly instalments; (iv)The first instalment shall be paid on or before 21.05.2025 and the subsequent instalments shall be paid on or before the 21st day of each succeeding months; (v)Petitioner shall continue to pay the regular EMI’s/instalments along with the instalments directed above; (vi) If the petitioner complies with all the conditions imposed in this judgment, the sale proceedings shall be cancelled. However, if the petitioner fails to comply with any condition imposed in this judgment, it will also be open to the respondent bank to proceed in accordance with the law by confirming the sale ( if any held on 22.04.2025) or to bring the property of the petitioner to sale again, in accordance with the law. (vii) 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:27591 WP(C) NO. 10248 OF 2025 5 APPENDIX OF WP(C) 10248/2025 PETITIONER EXHIBITS Exhibit-P1 THE TRUE COPY OF THE POSSESSION NOTICE ,ALONG WITH THE TYPED COPY, DATED 10.02.2025 ISSUED BY THE 1ST RESPONDENT.