2025:KER:28814 W.P (C) No.11017/2025 -1- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 3RD DAY OF APRIL 2025 / 13TH CHAITHRA, 1947 WP(C) NO. 11017 OF 2025 PETITIONER/S: 1 SURESH BABU P.K, AGED 51 YEARS, S/O. KOCH KUNJAN,PUTHANTHARA, ELAMKUNNAPUZHA, ERNAKULAM, PIN - 682503 2 PRAGEENA, AGED 37 YEARS, W/O. SURESH BABU, PUTHANTHARA,ELAMKUNNAPUZHA, ERNAKULAM, PIN - 682503 BY ADVS. V.S.SANGEETHA K.K.SUBITHA S.KRISHNALAL RESPONDENT/S: 1 THE AUTHORIZED OFFICER, THE REGIONAL OFFICE OF UNION BANK OF INDIA, 1ST FLOOR, UNION BANK BHAVAN, M.G.ROAD, ERNAKULAM DISTRICT, PINREPRESENTED BY ITS CHIEF MANAGER, PIN - 682035 2 THE BRANCH MANAGER, THE UNION BANK OF INDIA,MALIPURAM BRANCH, ERNAKULAM DISTRICT, PIN - 682511 BY ADVS. ASP.KURUP SADCHITH.P.KURUP C.P.ANIL RAJ SIVA SURESH B.SREEDEVI ATHIRA VIJAYAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28814 W.P (C) No.11017/2025 -2- J U D G M E N T Petitioners have 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 loan availed by the petitioners. 2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account. 3. The learned counsel for the respondent bank submits that the petitioners have not complied with the condition imposed in the interim order dated 19-03-2025. It is submitted that the overdue amount as on 18-03- 2025 is Rs.2,68,500/-. It is submitted that the sale of the secured asset did not take place as there were no bidders. 4. The learned counsel for the petitioners would submit that the petitioners have remitted a sum of Rs.55,000/- after the interim order of this court on 19-03-2025. It is submitted that the overdue amount as stated by the learned counsel for the respondent bank is without factoring the payment of Rs.55,000/- made by the petitioners on 24-03-2025. 5. The learned counsel for the respondent bank submits in reply that if the amount of Rs.55,000/- stated to have beens paid on 24-03-2025 is factored even then the overdue amount as on 24-03-2025 is Rs.2,13,500/-. It 2025:KER:28814 W.P (C) No.11017/2025 -3- 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. 6. 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 amount in ten (1o) equal monthly instalments first of which shall be paid on or before 15-04-2025 and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. 7. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.2,13,500/- along with any accrued 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.2,13,500/- together with any accrued interest, bank charges and costs in ten equated monthly instalments; (ii) The first instalment shall be paid on or before 15-04-2025 and 2025:KER:28814 W.P (C) No.11017/2025 -4- the subsequent instalments shall be paid on or 15th 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; (v) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance. It is made clear that the overdue amount mentioned in the judgment to be Rs.2,13,500/- is on the basis of the submission of the learned counsel for the petitioner that a sum of Rs.55,000/- was paid to the bank after the interim order of this court. If the amount stated as the overdue amount is not the correct amount, it will be open to the respondent bank to demand the correct amount from the petitioner which shall be paid in instalment in the manner permitted above. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE AMG 2025:KER:28814 W.P (C) No.11017/2025 -5- APPENDIX OF WP(C) 11017/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE TENDER CUM AUCTION SALE NOTICE DATED 06.03.2025 ISSUED BY THE RESPONDENT BANK TO THE PETITIONERS