2025:KER:26605 W.P (C) No.11452/2025 -1- 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. 11452 OF 2025 PETITIONER/S: SHIBU K., AGED 42 YEARS S/O. KUNJUKRISHNAN NADAR, KUNDARAKONATHU VEEDU, CHAKKAKONAM, KOZHIYODE KARAKULAM, THIRUVANANTHAPURAM, PIN - 695541 BY ADVS. A.D.SHAJAN SINDHU SANTHALINGAM JESSY S.SALIM RESPONDENT/S: 1 KERALA BANK, REGIONAL OFFICE, STATUE JUNCTION, THIRUVANANTHAPURAM, REPRESENTED BY AUTHORISED OFFICER, PIN - 695023 2 KERALA STATE CO-OPERATIVE BANK, (ERSTWHILE THIRUVANANTHAPURAM DISTRICT CO-OPERATIVE BANK) PALAYAM MAIN EAST FORT, THIRUVANANTHAPURAM, REP. BY BRANCH MANAGER, PIN - 695023 3 ARAVIND K., T.V., 23/8756 (46/284), VALIYASALA, CHALA P.O., THIRUVANANTHAPURAM, PIN - 695036 BY ADV Thomas Abraham THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:26605 W.P (C) No.11452/2025 -2- J U D G M E N T Petitioner is a guarantor in respect of a loan availed by the 3rd respondent. The petitioner mortgaged his property for securing the repayment of loan. On default being committed by the 3rd respondent, 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 for recovery of the amounts due. 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 is submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount as on 28-02-2025 is Rs.32,83,180.89/-. 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 account. 4. Having regard to the facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs, I am of the view that the petitioner can be granted an 2025:KER:26605 W.P (C) No.11452/2025 -3- opportunity to clear off the overdue amount on a condition that he will pay a sum of Rs.3,00,000/- on or before 05-04-2025 and the balance overdue amount in twelve (12) equal monthly instalments first of which shall be paid on or before 30-04-2025 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.32,83,180.89/- along with interest, bank charges and costs from the petitioner and regularise the loan account of the petitioner in the following manner:- (i) The petitioner shall pay an amount of Rs.3,00,000/- on or before 05-04-2025 and the balance overdue amount of Rs.29,83,180.89/- together with any accrued interest, bank charges and costs shall be repaid in twelve equated monthly instalments; (ii) The first instalment shall be paid on or before 30-04-2025 and the subsequent instalments shall be paid on or before the last working day of each succeeding month; (iii) Petitioner shall continue to pay the regular EMI’s / instalments along with the instalments directed above; 2025:KER:26605 W.P (C) No.11452/2025 -4- (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 AMG 2025:KER:26605 W.P (C) No.11452/2025 -5- APPENDIX OF WP(C) 11452/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF NOTICE DATED 06-09-2024 OF THE 2ND RESPONDENT ISSUED IN THE NAME OF PETITIONER AND GUARANTORS