2025:KER:25609 WP(C) NO. 10844 OF 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 25TH DAY OF MARCH 2025 / 4TH CHAITHRA, 1947 WP(C) NO. 10844 OF 2025 PETITIONER/S: MAITHEEN P.K., AGED 65 YEARS S/O. KUNJU KUNJU, PONNAPPALA HOUSE, KOOMPANPARA, ANAVIRATTY P.O., ADIMALY, IDUKKI DISTRICT, PIN - 685561 BY ADVS. ARUN MATHEW VADAKKAN FRANCIS J.VATTAKUZHI STEFFY V.J. LEEJI A.S. ANCY JOY AROKIA JAMES ANIL B. KUMAR RESPONDENT/S: 1 KERALA STATE CO-OPERATIVE BANK LTD. (KERALA BANK), CREDIT PROCESSING CENTRE, REPRESENTED BY ITS AUTHORISED OFFICER, IDUKKI COLONY P.O., IDUKKI DISTRICT, PIN - 685602 2 BRANCH MANAGER/AUTHORIZED OFFICER, KERALA STATE CO-OPERATIVE BANK LTD., (KERALA BANK), ADIMALY MAIN BRANCH, BRANCH NO.KSCB/IDU/320, ADIMALY P.O., IDUKKI DISTRICT, PIN - 685561 3 KERALA STATE CO-OPERATIVE BANK LTD., (KERALA BANK), ADIMALY MAIN BRANCH, BRANCH NO.KSCB/IDU/320, REPRESENTED BY ITS BRANCH MANAGER/AUTHORIZED OFFICER, ADIMALY P.O., IDUKKI DISTRICT, PIN - 685561 BY ADV K.S.ARUN KUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:25609 WP(C) NO. 10844 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 liability in instalments. 3.Learned Standing Counsel appearing for the respondent bank submits that the petitioner availed a loan from the respondent bank and committed default in repayment. It is also submitted that regularisation is not possible. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept the repayment of the outstanding amount in limited instalments. According to the learned Standing Counsel appearing for the respondent(after giving credit to the amounts paid pursuant to the interim order dated 18.03.2025) as on 25.03.2025, balance amount which is liable to be repaid [including the 2025:KER:25609 WP(C) NO. 10844 OF 2025 3 interest payable for the month of March-2025] is Rs.89,27,028/- (Rupees Eighty nine lakh twenty seven thousand and twenty eight only). 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 outstanding amount of Rs.89,27,028/- (Rupees Eighty nine lakh twenty seven thousand and twenty eight only) along with accrued interest, cost and charges in fifteen instalments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.89,27,028/- (Rupees Eighty nine lakh twenty seven thousand and twenty eight only) along with any accrued interest, cost and bank charges from the petitioner in the following manner: (i) The petitioner shall pay the outstanding amount of Rs.89,27,028/- (Rupees Eighty nine lakh twenty seven thousand and twenty eight only) in fifteen equated monthly instalments along with any accrued interest, costs and charges; (ii) The first instalment shall be paid on or before 15.04.2025 and the subsequent instalments shall be paid on or before the 15th day of the succeeding months; 2025:KER:25609 WP(C) NO. 10844 OF 2025 4 (iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; (iv) 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:25609 WP(C) NO. 10844 OF 2025 5 APPENDIX OF WP(C) 10844/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE ISSUED BY 1ST RESPONDENT DATED 01.02.2025 Exhibit P2 TRUE COPY OF THE NOTICE DATED 07.03.2025 ISSUED BY THE ADVOCATE COMMISSIONER