2025:KER:27313 W.P (C) No.11550/2025 -1- 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. 11550 OF 2025 PETITIONER/S: PRATHAPAN K R, AGED 61 YEARS S/O. RAGHAVAN KUNDAYIL HOUSE, PUTHUKKAD P O, AMBALLOOR, THRISSUR, PIN - 680301 BY ADVS. K.B.GANGESH SMITHA CHATHANARAMBATH ATHIRA A.MENON HARISANKAR.K.V. RESPONDENT/S: 1 THE KERALA STATE CO-OPERATIVE BANK (KERALA BANK), HEAD OFFICE, COBANK TOWERS, P B NO. 6515 VIKAS BHAVAN P O, PALAYAM, THIRUVANANTHAPURAM, REPRESENTED BY ITS CHIEF MANAGER, PIN - 695033 2 THE BRANCH MANAGER, KERALA BANK (THE KERALA STATE CO-OPERATIVE,BANK LTD), HEAD OFFICE BRANCH,SHAKARANA SATHABDHI MANDIRAM,KOVILATHUMPADAM, THIRUVAMBADI P O,THRISSUR, PIN - 680022 3 AUTHORISED OFFICER, KERALA BANK (THE KERALA STATE CO-OPERATIVE,BANK LTD), SHAKARANA SATHABDHI MANDIRAM, KOVILATHUMPADAM, THIRUVAMBADI P O, THRISSUR, PIN - 680022 BY ADV K.S.ARUN KUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27313 W.P (C) No.11550/2025 -2- J U D G M E N T The petitioner is a guarantor in respect of credit facilities availed by one M.S. Vargheese and others from the respondent bank. Properties of the petitioner have also been mortgaged to secure repayment of the loans. Petitioner has 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. 2. The learned counsel appearing for the petitioner would submit that the petitioner may be permitted to clear the entire liability in installments. 3. The learned counsel for the respondent bank submits that the property of the petitioner was scheduled to be sold on 26-03-2025. It is submitted that no sale took place on 26-03-2025. It is submitted that considering the above, the bank has no objection in giving some instalments to the petitioner to clear the entire liability provided a substantial amount is paid on or before 10-04-2025. 4. Having heard the learned counsel for the petitioner and the learned Standing counsel appearing for the respondent bank and having regard to the facts and circumstances of the case and considering 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 installments. 2025:KER:27313 W.P (C) No.11550/2025 -3- 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding mount of Rs.1,81,68,814/- along with interest, bank charges and costs from the petitioner in the following manner: (i) The petitioner shall pay an amount of Rs.25,00,000/- on or before 10-04-2025 and the balance outstanding amount of Rs.1,56,68,814/- together with any accrued interest, bank charges and costs shall be repaid in eighteen (18) equated monthly instalments; (ii) The first instalment shall be paid on or before 09-05-2025 and subsequent instalments shall be paid on or before 10th day of each succeeding month; (iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; (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 AMG 2025:KER:27313 W.P (C) No.11550/2025 -4- APPENDIX OF WP(C) 11550/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE AUCTION SALE NOTICE DATED NIL UNDER RULE 8(6) OF THE SECURITY INTEREST ENFORCEMENT RULES ISSUED BY THE 3 RD RESPONDENT