2025:KER:26080 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 26TH DAY OF MARCH 2025 / 5TH CHAITHRA, 1947 WP(C) NO. 11386 OF 2025 PETITIONER: PRAKASH.A.K., AGED 45 YEARS, S/O KUMARAN, VELICKAKAM HOUSE MUNIPPARA, ARUVAPPARA PO, KOMBANAD, ERNAKULAM, PIN – 683 545. BY ADVS. SREEJITH S.NAIR BIJU JOSEPH REMIL REGI GEORGE RAJESH BHASKARA KURUP RESPONDENT: THE AUTHORIZED OFFICER, FEDERAL BANK LTD, LCRD/ERNAKULAM DIVISION, FEDERAL TOWER, MARINE DRIVE, ERNAKULAM, KOCHI, PIN – 682 031. BY ADVS. P.PAULOCHAN ANTONY (SC) SREEJITH K.(K/380/2005) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:26080 WP(C) 11386/2025 2 JUDGMENT Petitioner availed a cash credit facility from the respondent bank. On default being committed proceedings have been initiated against the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), prompting the petitioner to approach this Court by filing the above writ petition. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the outstanding amount in installments. 3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment and the outstanding amount, as on 26-03-2025, is Rs.35,59,150/-. 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 outstanding amount in limited installments. 2025:KER:26080 WP(C) 11386/2025 3 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 outstanding amount in 15 installments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.35,59,150/- along with any accrued interest, cost and bank charges from the petitioner in the following manner: (i) The petitioner shall pay the outstanding amount of Rs.35,59,150/- together with any accrued interest, cost and bank charges in 15 equated monthly installments; (ii) The first installment shall be paid on or before 15-04-2025. The subsequent installments shall be paid on or before the 15th day of the succeeding months; (iii) In the event of default of any one installment, the respondent bank shall be entitled to proceed in accordance with the law; 2025:KER:26080 WP(C) 11386/2025 4 (iv) 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 ats 2025:KER:26080 WP(C) 11386/2025 5 APPENDIX OF WP(C) 11386/2025 PETITIONER’S EXHIBITS Exhibit P1 A COPY OF THE NOTICE ISSUED BY THE RESPONDENT DATED 14.02.2025