2025:KER:26702 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 27TH DAY OF MARCH 2025 / 6TH CHAITHRA, 1947 WP(C) NO. 10722 OF 2025 PETITIONERS: 1 ANITHA VARGHESE, AGED 59 YEARS, W/O. LATE VARGHSE P.J., MUNDACKAL POIKAYIL (H), THEPPUPURA P.O., THODUVAKKADU, EZHAMKULAM VILLAGE, ADOOR TALUK, PATHANAMTHITTA, PIN – 691554. 2 ANTU VARGHESE , AGED 36 YEARS, S/O. LATE VARGHSE P.J., MUNDACKAL POIKAYIL (H), THEPPUPURA P.O., THODUVAKKADU, EZHAMKULAM VILLAGE, ADOOR TALUK, PATHANAMTHITTA, PIN – 691554. 3 ANU VARGHESE, AGED 33 YEARS, S/O. LATE VARGHSE P.J., MUNDACKAL POIKAYIL (H), THEPPUPURA P.O., THODUVAKKADU, EZHAMKULAM VILLAGE, ADOOR TALUK, PATHANAMTHITTA, PIN – 691554. 4 SOSAMMA, AGED 86 YEARS, M/O. LATE VARGHSE P.J., MUNDACKAL POIKAYIL (H), THEPPUPURA P.O., THODUVAKKADU, EZHAMKULAM VILLAGE, ADOOR TALUK, PATHANAMTHITTA, PIN – 691554. BY ADVS. D.G.VIPIN DANIEL A.J. MANISHA V.V NANDAGOPAN S. NAIR J.AMALDEV WP(C) NO. 10722 OF 2025 2 2025:KER:26702 RESPONDENTS: 1 THE KERALA STATE CO-OPERATIVE BANK (KERALA BANK) REGIONAL OFFICE, PB NO. 104, OPPOSITE MUNICIPAL TOWN HALL, ALAPPUZHA-1, PIN – 688011. 2 THE AUTHORIZED OFFICER, THE KERALA STATE CO-OPERATIVE BANK (KERALA BANK), EZHAMKULAM BRANCH, EZHAMKULAM P.O., PATHANAMTHITTA, PIN – 691554. 3 THE KERALA STATE CO-OPERATIVE BANK (KERALA BANK), EZHAMKULAM BRANCH, EZHAMKULAM P.O., PATHANAMTHITTA, REPRESENTED BY ITS MANAGER, PIN – 691554. BY ADV K.AMMINIKUTTY, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 10722 OF 2025 3 2025:KER:26702 JUDGMENT This is the 2nd writ petition at the instance of the petitioners challenging the proceedings initiated against the petitioners under the provisions of the SARFAESI Act to recover amounts due under credit facilities availed by the petitioners from the respondent Bank. The earlier writ petition filed by the petitioners as W.P.(C) No.5128 of 2024 was disposed of on 19.02.2024 permitting the petitioners to remit the then overdue amounts in some instalments. Though the petitioners paid a sum of Rs.2 lakhs, no further amount was paid by the petitioners prompting the Bank to continue with the proceedings initiated against the petitioners. 2. The learned counsel appearing for the petitioners would submit that if the petitioners will immediately remit a substantial amount towards the present overdue amount and one last chance may be given to the petitioners to regularize the loan account. 3. The learned counsel appearing for the respondent Bank would submit that this writ petition is not maintainable as this is the 2nd round of litigation at the instance of the petitioners before this Court seeking practically the same relief. It is submitted that notwithstanding the above, if this Court is inclined to grant any further indulgence to the petitioners, the petitioners may be required WP(C) NO. 10722 OF 2025 4 2025:KER:26702 to pay some substantial amount towards the present overdue amounts immediately. It is submitted that the the overdue amount is Rs.13,82,077/-(Rupees thirteen lakhs eighty two thousand and seventy seven 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 total overdue amount on condition that Rs.4,00,000/- (Rupees four lakhs only) shall be paid on or before 05.04.2025 and the balance amount along with any accrued interest, costs and charges shall be paid in 10 equal monthly instalments, the first of which shall be paid on or before 05.05.2025 and the subsequent instalments shall be paid on or before the 5th day of every succeeding months 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.13,82,077/-(Rupees thirteen lakhs eighty two thousand and seventy seven only) along with any accrued interest, costs and charges from the petitioner and regularise the loan accounts of the petitioners in the following manner:- WP(C) NO. 10722 OF 2025 5 2025:KER:26702 i. The petitioners shall pay a sum of Rs.4,00,000/- (Rupees four lakhs only) on or before 05.04.2025. The balance overdue amount along with any accrued interest, costs and charges shall be paid in 10 equal monthly instalments; ii. The first instalment shall be paid on or before 05.05.2025 and the subsequent instalments shall be paid on or before the 5th day of every succeeding month; iii.Petitioners 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 petitioners to repay the entire amounts, all coercive proceedings shall be kept in abeyance. It is made clear that since this is the 2nd round of litigation at the instance of the petitioners and since considerably liberal instalments have already been granted to the petitioners, no application for extension of time will be considered under any circumstances. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE DK WP(C) NO. 10722 OF 2025 6 2025:KER:26702 APPENDIX OF WP(C) 10722/2025 PETITIONER EXHIBITS Exhibit P-1 A TRUE COPY OF THE NOTICE DATED 23.01.2024 ISSUED UNDER SECTION 13(4) Exhibit P-2 A TRUE COPY OF THE JUDGEMENT DATED 19.02.2024 PASSED BY THIS HON'BLE COURT Exhibit P-3 A TRUE COPY OF RECEIPT SHOWING PAYMENT OF RS 2,00,000/- TO THE 3RD RESPONDENTS ON 15.03.2024 IN COMPLIANCE WITH THE ORDER PASSED BY THIS HON'BLE COURT Exhibit P-4 A TRUE COPY OF THE NOTICE DATED 11.02.2025 ISSUED BY ADVOCATE ALAN LALU JOHN