WP(C) NO. 11433 OF 2025 1 2025:KER:26050 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 25TH DAY OF MARCH 2025 / 4TH CHAITHRA, 1947 WP(C) NO. 11433 OF 2025 PETITIONER/S: NANDHU N.C., AGED 30 YEARS S/O. CHINMAYANANDAN N.R., RESIDING AT NADUKALATHIL HOUSE, NANJAPPA NAGAR, MANNARKKAD, PIN - 678582 BY ADVS. K.V.RASHMI ANIL THOMAS(T) LAKSHMI RAHUL ANIL RESPONDENT/S: 1 KERALA STATE CO-OPERATIVE BANK, REP. BY ITS MANAGER, MANNARKKAD EVENING BRANCH, XFV5+5PH, NH 213, MANNARKAD- I, PALAKKAD DISTRICT, PIN - 678582 2 EXECUTIVE OFFICER/ AUTHORIZED OFFICER, THE KERALA STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE, PALAKKAD, PIN - 678001 BY ADV K.S.ARUN KUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 11433 OF 2025 2 2025:KER:26050 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 account. 3. It was submitted on behalf of the respondent bank that the petitioner committed default in repayment of a term loan and the total overdue amount as on 21.03.2025 is Rs.2,40,199/-. 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 account. 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 in six equal monthly instalments, the first of which shall be paid on or before 10.04.2025 and the subsequent instalments shall be paid on 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 account regularised. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.2,40,199/- along with any WP(C) NO. 11433 OF 2025 3 2025:KER:26050 accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner in the following manner: i. The petitioner shall pay the overdue amount along with any accrued interest, costs and charges shall be repaid in six equal monthly instalments; ii. The first instalment shall be paid on or before 10.04.2025 and the subsequent instalments shall be paid on or before the 10th 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 Nsd WP(C) NO. 11433 OF 2025 4 2025:KER:26050 APPENDIX OF WP(C) 11433/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE BANK STATEMENT DATED 15.03.2025 ISSUED BY THE BANK. Exhibit P2 TRUE COPY OF THE NOTICE DATED NIL ISSUED TO THE PETITIONER ON 06.02.2025 BY THE 1ST RESPONDENT UNDER SEC. 13(4) OF THE SAFAESI ACT. Exhibit P3 TRUE COPY OF THE REPRESENTATION DATED 03.03.2025 SUBMITTED BY THE PETITIONER.