WP(C) NO. 10710 OF 2025 1 2025:KER:26041 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. MONDAY, THE 24TH DAY OF MARCH 2025 / 3RD CHAITHRA, 1947 WP(C) NO. 10710 OF 2025 PETITIONER: REJI W/O JOHN, AGED 48 YEARS NJARAKULATH HOUSE, KONNATHADY VILLAGE, PANICKANKUDY P.O., IDUKKI TALUK, IDUKKI DISTRICT, PIN - 685571 BY ADVS. BASIL CHANDY VAVACHAN CHARUTHA BHAIJU GEORGIE SIMON CHANDHANA BHAIJU BASIL SAJAN FATHIM NAVAS KAVYA RANI JAYAPRAKASH LEKSHMI PRIYA V. ANJANA V. MUHAMMED SHUHAIB A.S. AKSHAY SHIBU BASIL SCARIA RESPONDENTS: 1 THE AUTHORISED OFFICER, SBI BANK, ASSET RECOVERY BRANCH, ADIMALI BRANCH, KANNATTU BUILDING, ADIMALI P.O., IDUKKI DISTRICT, PIN - 685561 2 THE MANAGER SBI BANK, ADIMALI BRANCH, KANNATTU BUILDING. ADIMALI P.O., IDUKKI DISTRICT, PIN - 685561 SMT. S.LAKSHMY, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 10710 OF 2025 2 2025:KER:26041 JUDGMENT Petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the 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 outstanding amount in instalments. 3. It was submitted on behalf of the respondent bank that the petitioner committed default in repayment of an Kissan Cash Credit and the outstanding amount as on 21.03.2025 is Rs.18,54,878/-. 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 outstanding amount in limited instalments. 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 on condition that Rs.2,00,000/- (Rupees two lakhs only) shall be paid on or before 29.03.2025 and the balance amount shall be paid in fifteen (15) equal monthly instalments, the first of which shall be paid on or before 30.04.2025 and the subsequent WP(C) NO. 10710 OF 2025 3 2025:KER:26041 instalments shall be paid on the last working day of every succeeding months. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the outstanding amount of Rs.18,54,878/- along with accrued interest, costs and charges from the petitioner in the following manner: (i)The petitioner shall pay a sum of Rs.2,00,000/- (Rupees two lakhs only) on or before 29.03.2025; The balance outstanding amount along with any accrued interest, costs and charges shall be repaid in fifteen (15) equal monthly instalments; (ii)The first instalment shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on the last working day of every succeeding months; (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 Nsd WP(C) NO. 10710 OF 2025 4 2025:KER:26041 APPENDIX OF WP(C) 10710/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF POSSESSION NOTICE UNDER SECTION 13(4) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 DATED 23/05/2023 Exhibit P2 THE TRUE COPY LETTER DATED 02/11/2023 ISSUED BY DISTRICT COLLECTOR.