2025:KER:27588 WP(C) NO. 10229 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. 10229 OF 2025 PETITIONER/S: SHAKEELA NIZAR,AGED 51 YEARS W/O KA NIZAR, RESIDING AT 14/1046B NISHANAMANZIL, MADURA COMPANY ROAD, PALLURUTHY, ERNAKULAM DISTRICT, PIN - 682006 BY ADV YOOSUF SAFWAN T. AJMAL RESPONDENT/S: 1 AUTHORIZED OFFICER,HDB FINANCIAL SERVICES, HAVING ITS OFFICE AT 2ND FLOOR, THE ART OF LIVING TOWER,13TH CROSS ROAD, SBT AVENUE LAND MARK, NEAR REGIONAL PASSPORT OFFICE, KOCHI, PIN - 682036 2 MANAGER, HDB FINANCIAL SERVICES, HAVING ITS OFFICE AT 2ND FLOOR THE ART OF LIVING TOWER 13TH CROSS ROAD SBT AVENUE LAND MARK, NEAR REGIONAL PASSPORT OFFICE KOCHI, PIN - 682036 BY ADVS. P.PAULOCHAN ANTONY P SREEJITH K.(K/380/2005) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27588 WP(C) NO. 10229 OF 2025 2 JUDGMENT Petitioner along with her husband availed credit facilities from the respondent financial institution. Petitioner has approached this Court, challenging proceedings initiated by the respondent financial institution under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts . 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. Learned counsel appearing for the respondent financial institution would submit that the petitioner along with her husband availed credit facilities from the respondent financial institution and committed default in repayment. It is submitted that, the husband of the petitioner had earlier approached this Court by filing W.P. (C) No. 28005 of 2024, which was disposed of by Exhibit P4 judgment, permitting him to approach the financial institution for paying off the overdue amount and as at the 2025:KER:27588 WP(C) NO. 10229 OF 2025 3 relevant time no proceedings have been initiated under the provisions of the SARFAESI Act. It is submitted that, the overdue amount, as on 26.03.2025, is Rs.15,99,244/- (Rupees Fifteen lakh ninety nine thousand two hundred and forty four only). It is submitted that, while the respondent financial institution has no objection in granting some instalments to the petitioner to clear the overdue amount provided the petitioner may be required to pay some substantial amount immediately. 4. Learned counsel appearing for petitioner would submit that the petitioner and her husband are having matrimonial disputes and the petitioner is now being supported by her son. It is submitted that, the mortgaged property belongs to the petitioner. It is submitted that, the petitioner is residing in the property which is mortgaged to the respondent financial institution. 5. 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.15,99,244/- (Rupees Fifteen lakh ninety nine thousand two hundred and forty four only) on a condition that the petitioner shall pay an amount of 2025:KER:27588 WP(C) NO. 10229 OF 2025 4 Rs.2,00,000/- (Rupees Two lakh only) on or before 15.04.2025 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. 6. Accordingly, there will be a direction to the respondent financial institution to accept repayment of the entire overdue amount of Rs.15,99,244/- (Rupees Fifteen lakh ninety nine thousand two hundred and forty four 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) Petitioner shall pay an amount of Rs.2,00,000/- (Rupees Two lakh only) on or before 15.04.2025; (ii) The balance overdue amount of Rs.13,99,244/- (Rupees Thirteen lakh ninety nine thousand two hundred and forty four only) along with any accrued interest, cost and charges shall be paid in ten equated monthly instalments; (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 each succeeding months; (iv)Petitioner shall continue to pay the regular EMI’s/instalments along with the instalments directed above; 2025:KER:27588 WP(C) NO. 10229 OF 2025 5 (v) In the event of default of any one instalment, the respondent financial institution shall be entitled to proceed in accordance with the 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 ajt 2025:KER:27588 WP(C) NO. 10229 OF 2025 6 APPENDIX OF WP(C) 10229/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE DEMAND NOTICE DATED 13.09.2024 ISSUED BY THE 1ST RESPONDENT Exhibit P2 THE TRUE COPY OF THE POSSESSION NOTICE DATED 28.12.2024 ISSUED BY THE 1ST RESPONDENT Exhibit P3 THE TRUE COPY OF THE PRE-SALE NOTICE DATED 24.02.2025 ISSUED BY THE 1ST RESPONDENT Exhibit P4 TRUE COPY OF JUDGMENT IN WPC 28005/2024 DATED 06.08.2024