2025:KER:27198 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. 10309 OF 2025 PETITIONERS: RAJESH KUMAR C.S, AGED 36 YEARS, S/O SOMAN, SIVAVILASAM HOUSE, PERUVA P.O., KOTTAYAM, PIN – 686610. BY ADV R.DIVAKARAN RESPONDENTS: AUTHORIZED OFFICER, KADATHURUTHY URBAN CO-OPERATIVE BANK LTD. NO. K. 399, HEAD OFFICE, KADATHURUTHY, KOTTAYAM, PIN – 686004. BY ADV RENJITH.R THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 10309 OF 2025 2 2025:KER:27198 JUDGMENT The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent 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 overdue amount in instalments and to obtain regularisation of the loan account. 3. It was submitted on behalf of the respondent Bank that the petitioner committed default in repayment of a housing loan and the overdue amount (after giving credit to the amounts paid by the petitioner pursuant to the interim order dated 14.03.2025) is Rs.2,92,000/-(Rupees two lakhs ninety two thousand 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 overdue amount in limited instalments and regularise the loan account. 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 WP(C) NO. 10309 OF 2025 3 2025:KER:27198 along with any accrued interest, costs and charges in three 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.2,92,000/-(Rupees two lakhs ninety two thousand only) along with any accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner in the following manner: i. The petitioner shall pay the overdue amount of Rs.2,92,000/- (Rupees two lakhs ninety two thousand only) along with any accrued interest, costs and charges in three equated monthly instalments; ii. The first instalment shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on or before the last working day of every succeeding months; iii.Petitioner shall continue to pay the regular EMI’s / instalments along with the instalments directed above; 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 DK WP(C) NO. 10309 OF 2025 4 2025:KER:27198 APPENDIX OF WP(C) 10309/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENT TO THE PETITIONER DATED 02.09.2024 Exhibit P2 THE TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER DATED 06.03.2025 Exhibit P3 THE TRUE COPY OF THE REPRESENTATION SUBMITTED BY THE PETITIONER TO THE RESPONDENT DATED 11.03.2025