2025:KER:26624 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. 11390 OF 2025 PETITIONER: YOUSAF K., AGED 65 YEARS, S/O. HYDRU KORAMBI PARAMB, ALLPARAMBA, MALAPPURAM, PIN – 679 357. BY ADVS. SHARAN SHAHIER TREESA SHAJI RHEA SHERRY SONA BENNY ANGELINA JOY AQEEL MUHAMMED K.H. ADITHYAN C. RESPONDENTS: 1 KERALA STATE CO-OPERATIVE BANK, CO-BANK TOWER, VIKAS BHAVAN, P.O. VALAYAM, TRIVANDRUM, PIN – 695 022. 2 SECRETARY, KERALA STATE CO-OPERATIVE BANK, CO-BANK TOWER, VIKAS BHAVAN, P.O.VALAYAM, TRIVANDRUM, PIN – 695 022. 3 SPECIAL SALE OFFICER, KERALA STATE CO-OPERATIVE BANK, CO-BANK TOWER, VIKAS BHAVAN, P.O. VALAYAM, TRIVANDRUM, PIN – 695 022. BY ADV. GILBERT GEORGE CORREYA (SC) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:26624 WP(C) 11390/2025 2 JUDGMENT Petitioner availed a housing loan from the 1st 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 overdue amount in installments and to obtain regularization 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 27-02-2025, is Rs.30,02,955/-. 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 2025:KER:26624 WP(C) 11390/2025 3 overdue amount in limited installments and regularize 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 overdue amount on a condition that he will pay a sum of Rs.5,00,000/- on or before 15-04-2025 and balance overdue amount along with any accrued interest, cost and charges in 10 installments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularized. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.30,02,955/- along with any accrued interest, cost and charges from the petitioner and regularize the loan account of the petitioner in the following manner: (i) The petitioner shall pay an amount of Rs.5,00,000/- (Rupees Five Lakh Only) on or before 15-04-2025. The balance overdue amount shall be repaid in 10 equated 2025:KER:26624 WP(C) 11390/2025 4 monthly installments, along with any accrued interest, costs and charges. The first installment shall be paid on or before 15-05-2025; (ii) The subsequent installments shall be paid on or before the 15th day of every succeeding months; (iii) Petitioner shall continue to pay the regular EMI’s/installments along with the installments directed above; (iv) In the event of default of any one installment, 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 ats 2025:KER:26624 WP(C) 11390/2025 5 APPENDIX OF WP(C) 11390/2025 PETITIONER’S EXHIBITS Exhibit P1 THE CERTIFICATE EVIDENCING THE IMPLANT OF PACEMAKER DATED 21.12.2024 Exhibit P2 THE TRUE COPY OF THE REVENUE RECOVERY NOTICE DATED 13.02.2023 Exhibit P3 THE TRUE COPY OF THE REPRESENTATION SENT BY THE PETITIONER TO THE RESPONDENT BANK DATED 01.08.2023 Exhibit P4 THE TRUE COPY OF AUCTION SALE NOTICE DATED 26.10.2023 Exhibit P5 THE TRUE COPY OF THE ACCOUNT STATEMENT EVIDENCING THE DEPOSIT OF MONEY BY THE PETITIONER TOWARDS THE OUTSTANDING AMOUNT Exhibit P6 THE TRUE COPY OF THE NOTICE DATED 15.02.2024 ISSUED BY THE RESPONDENT BANK Exhibit P7 THE TRUE COPY OF SECTION 14(1) APPLICATION UNDER THE SARFAESI BEFORE THE CHIEF JUDICIAL MAGISTRATE, MANJERI DATED 17.10.2024 Exhibit P8 THE TRUE COPY OF THE ADVOCATE COMMISSIONER’S NOTICE DATED 13.12.2024