2025:KER:26704 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. 11358 OF 2025 PETITIONER/S: AJAI JOHN, AGED 51 YEARS, S/O K.C.JOHN KUTTIKALAYIL CHARUVIL HOUSE KURIANOOR P.O PATHANAMYHITTA, PIN – 689550. BY ADVS. PRAMEELA.C.K. PRASANTH V.C. C.K.PREM RAJ RESPONDENTS: 1 THE FEDERAL BANK LTD, REPRESENTED BY ITS BRANCH MANAGER, THONIPUZA BRANCHKURIANOOR PATHANAMTHITTA, PIN – 689550. 2 THE AUTHORIZED OFFICER, FEDERAL BANK LTD, THONIPUZA BRANCH KURIANOOR P.O, PATAHANAMTHITTA, PIN – 689550. BY ADVS. P.PAULOCHAN ANTONY, SC SREEJITH K. 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. 11358 OF 2025 2 2025:KER:26704 JUDGMENT The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent 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 overdue amount in instalments and to obtain regularisation of the loan accounts. 3. It is submitted on behalf of the respondent Bank that the petitioner committed default in repayment of two loans and the total overdue amount as on 20.03.2025 is Rs.15,54,751/-(Rupees fifteen lakhs fifty four thousand seven hundred and fifty one only). 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 accounts. 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.5,00,000/- (Rupees five lakhs only) shall be paid on or before 10.04.2025 and the balance amount along with WP(C) NO. 11358 OF 2025 3 2025:KER:26704 any accrued interest, costs and charges shall be paid in 10 equal monthly instalments, the first of which shall be paid on or before 09.05.2025 and the subsequent instalments shall be paid on or before the 10th day of every succeeding months and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan accounts regularised. 5. Accordingly, there will be a direction to the respondent Bank to accept repayment of the entire overdue amount of Rs.15,54,751/-(Rupees fifteen lakhs fifty four thousand seven hundred and fifty one only) along with any accrued interest, costs and charges from the petitioner and regularise the loan accounts of the petitioner in the following manner:- i. The petitioner shall pay a sum of Rs.5,00,000/- (Rupees five lakhs only) on or before 10.04.2025. 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 09.05.2025 and the subsequent instalments shall be paid on or before the 10th day of every 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 WP(C) NO. 11358 OF 2025 4 2025:KER:26704 coercive proceedings shall be kept in abeyance. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE DK WP(C) NO. 11358 OF 2025 5 2025:KER:26704 APPENDIX OF WP(C) 11358/2025 PETITIONER EXHIBITS Exhibitp1 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER