2025:KER:27328 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 28TH DAY OF MARCH 2025 / 7TH CHAITHRA, 1947 WP(C) NO. 11328 OF 2025 PETITIONER: UNNIKRISHNAN P.G., AGED 58 YEARS, S/O. GOVINDANKUTTY NAIR, PUNNASSERY HOUSE, PANGARAPPILLY P.O., CHELAKKARA, THRISSUR, PIN – 680586. BY ADV M.R.SASITH RESPONDENTS: 1 THE AUTHORIZED OFFICER, THE STATE BANK OF INDIA, RASMEC, OPPOSITE TO N.S.S.K.P.T. HIGH SCHOOL, T.B. ROAD, OTTAPALAM, PALAKKAD, PIN – 679101. 2 THE BRANCH MANAGER, THE STATE BANK OF INDIA, ELANADU BRANCH, MEKKATTIL BUILDINGS, MAIN ROAD, ELANADU P.O., THRISSUR, PIN – 680586. SRI. AMAL GEORGE, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 11328 OF 2025 2 2025:KER:27328 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 was submitted on behalf of the respondent Bank that the petitioner committed default in repayment of three loans and the total overdue amount as on 26.03.2025 is Rs.2,83,158/- (Rupees two lakhs eighty three thousand one hundred and fifty eight only). 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 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 overdue amount along with any accrued interest, costs and charges in six instalments and thereafter, if the amount so directed is repaid WP(C) NO. 11328 OF 2025 3 2025:KER:27328 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.2,83,158/-(Rupees two lakhs eighty three thousand one hundred and fifty eight 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 the overdue amount of Rs.2,83,158/- (Rupees two lakhs eighty three thousand one hundred and fifty eight only) along with any accrued interest, costs and charges in six equated monthly instalments; 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 every succeeding months; 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. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE DK WP(C) NO. 11328 OF 2025 4 2025:KER:27328 APPENDIX OF WP(C) 11328/2025 PETITIONER EXHIBITS Exhibit-P1 THE TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT DATED 17.08.2024.