2025:KER:30575 W.P (C) No.10675/2025 -1- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 8TH DAY OF APRIL 2025 / 18TH CHAITHRA, 1947 WP(C) NO. 10675 OF 2025 PETITIONER/S: USMAN CHENARI, AGED 53 YEARS S/O. KUNJU MUHAMMED, VALPARAMBIL HOUSE, C.H. ROAD, MUNNIYUR P.O., MALAPPURAM, PIN - 676311 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 DISTRICT, PIN - 676503 2 THE KOTTAKKAL URBAN CO-OPERATIVE BANK LTD. NO.1378, CHEMMAD BRANCH, REPRESENTED BY ITS BRANCH MANAGER, CHEMMAD-THALAPPARA ROAD, CHEMMAD, MALAPPURAM, PIN - 676306 3 THE BRANCH MANAGER, THE KOTTAKKAL URBAN CO-OPERATIVE BANK LTD. NO.1378, CHEMMAD BRANCH, CHEMMAD- THALAPPARA ROAD, CHEMMAD, MALAPPURAM, PIN - 676306 BY ADVS. DEVAPRASANTH P.J SMINI JOSE(K/262/2015) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:30575 W.P (C) No.10675/2025 -2- J U D G M E N T Petitioner has approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due upon a Term loan availed by 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 committed default in repayment and the overdue amount as on 04-04-2025 is Rs.8,07,507/-. It is 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 heard the learned counsel for the petitioner and the learned Standing Counsel for the respondent Bank and having regard to the facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs/instalments, I am of the view that the petitioner can be granted an opportunity to clear off the overdue 2025:KER:30575 W.P (C) No.10675/2025 -3- amount in twelve (12) equal monthly instalments first of which shall be paid on or before 30-04-2025 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.8,07,507/- along with interest, bank charges and costs 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.8,07,507/- together with any accrued interest, bank charges and costs in twelve 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 last working day of each succeeding month; (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; 2025:KER:30575 W.P (C) No.10675/2025 -4- (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 AMG 2025:KER:30575 W.P (C) No.10675/2025 -5- APPENDIX OF WP(C) 10675/2025 PETITIONER EXHIBITS Exhibit-P1 THE TRUE COPY OF THE DEMAND NOTICE DATED 01.01.2025 ISSUED BY THE RESPONDENT BANK ALONG WITH THE TYPED COPY.