WP(C) NO. 11499 OF 2025 1 2025:KER:26056 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. 11499 OF 2025 PETITIONERS: 1 MOSES I. @ IMBARAJ MOSES, AGED 48 YEARS S/O. IMBARAJ, 'MELETHERUVIL', NARAKATHODU, PUTHUPPALLY, KOTTAYAM, PIN - 686011 2 JOHNCI PABILA, AGED 46 YEARS W/O. MOSES I. ALIAS IMBARAJ MOSES, 'MELETHERUVIL', NARAKATHODU, PUTHUPPALLY, KOTTAYAM DISTRICT, PIN - 686011 BY ADVS. R.MURALEEDHARAN LULU MARY VARGHESE RESPONDENTS: 1 INDIAN BANK, KOTTAYAM BRANCH, BENNIE'S INN TOWER, SHASTRY ROAD, KOTTAYAM, KOTTAYAM DISTRICT, REPRESENTED BY THE CHIEF MANAGER, PIN - 686001 2 SRI. ATHUL JOSE, ADVOCATE COMMISSIONER IN M.C. NO. 596, BEFORE THE CHIEF JUDICIAL MAGISTRATE COURT, KOTTAYAM, WEST OF POLICE PARADE GROUND, BEHIND COLLECTORATE, KOTTAYAM, PIN - 686002 SRI. BINOY VASUDEVAN, SC 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. 11499 OF 2025 2 2025:KER:26056 JUDGMENT The petitioners have availed several credit facilities from the respondent bank. On default being committed, the bank has initiated proceedings against the petitioners under the provisions of the SARFAESI Act to recover the amounts due to the Bank. 2. The learned counsel appearing for the petitioners would submit that the petitioners are willing to regularize the loan accounts by paying the overdue amount in all the loans in some installments. It is submitted that the major liability arises out of a cash credit loan and if that loan is permitted to be regularized, the petitioners may be in a position to pay off the amounts due in all the other loans immediately. 3. Learned counsel appearing for the respondent bank submits that the bank is not willing to regularize any of the loan accounts. It is submitted that pursuant to the directions issued by this Court, the proposal for settlement given by the petitioners was considered and rejected by the bank. It is submitted that the outstanding amount as on 20.03.2025 is Rs.1,16,97,493/- and the proposal given by the petitioners was to settle the entire liability by paying a sum of Rs.37,00,000/-. It is submitted that the loans cannot be regularized and all that can be done is that some installments can be granted WP(C) NO. 11499 OF 2025 3 2025:KER:26056 to the petitioners to clear the outstanding amount. 4. The learned counsel appearing for the petitioners would submit that the petitioners are not in a position to pay off the entire outstanding liability in installments at present. 5. Having heard the learned for the petitioner and the learned counsel appearing for the respondent bank and having regard to limited nature of the jurisdiction exercised by this Court, in matters arising under the SARFAESI Act and in the facts and circumstances noticed above, I am of the view that no relief can be granted to the petitioners. This Writ Petition fails and is accordingly dismissed. sd/- GOPINATH P. JUDGE Nsd WP(C) NO. 11499 OF 2025 4 2025:KER:26056 APPENDIX OF WP(C) 11499/2025 PETITIONER EXHIBITS Exhibit P-1 TRUE COPY OF THE NOTICE ISSUED UNDER SEC.13(2) OF THE ACT, BY THE 1ST RESPONDENT DATED 27.10.2023 Exhibit P-2 TRUE COPY OF THE STATEMENT OF ACCOUNTS OF THE HOUSING LOAN ACCOUNT, OBTAINED FROM THE BANK, DT.07.01.2025 Exhibit P-3 TRUE COPY OF THE POSSESSION NOTICE ISSUED UNDER RULE 8(1) BY THE 2ND RESPONDENT, DT.11.10.2024 Exhibit P-4 TRUE COPY OF THE APPLICATION SUBMITTED BY THE PETITIONER SEEKING ONE TIME SETTLEMENT, DT.27.02.2025 Exhibit P-5 TRUE COPY OF THE COMMUNICATION DATED 28.02.2025 SERVED TO THE PETITIONERS FROM THE 1ST RESPONDENT Exhibit P-6 TRUE COPY OF THE FRESH APPLICATION SUBMITTED BY THE 1ST PETITIONER FOR OTS DATED 15.03.2025