WP(C) NO. 11425 OF 2025 1 2025:KER:25980 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. 11425 OF 2025 PETITIONER: MUHAMMED ASHIQE C.K., AGED 30 YEARS S/O. ABDUL AZEEZ C.K., CHADACHIKUNNUMMAL HOUSE, KARADI, RAROTH, KOZHIKODE, PIN - 673572 BY ADVS. ALBIN A. JOSEPH SUSANTH SHAJI SIDHARTH O. NEKHA VARGHESE MUHAMMED MISBAHU K. RESPONDENTS: 1 HDB FINANCIAL SERVICES LTD., GROUND FLOOR, ZENITH HOUSE, KESHAVRAO KHADYE MARG, OPP. RACE COURSE, MAHALAXMI, MUMBAI, MAHARASHTRA, REP. BY ITS MANAGING DIRECTOR, PIN - 400034 2 THE BRANCH MANAGER HDB FINANCIAL SERVICES LTD., MALAPARAMPA, WAYANAD ROAD, WARD NO.34, ABOVE AXIS BANK, NEAR CIVIL STATION, VEGERI, KOZHIKODE, PIN - 673009 BY ADVS. P.PAULOCHAN ANTONY SREEJITH K. 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. 11425 OF 2025 2 2025:KER:25980 JUDGMENT The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent bank for recovery of the amounts due from the petitioner. 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. Learned counsel for the respondent bank submits that the overdue amount as on today (25.03.2025) is Rs.1,42,571/-. It is submitted that possession of the vehicle is already with the Authorized Officer of the respondent bank. It is further submitted that, as a matter of indulgence, the respondent financial institution is willing to give some installments to the petitioner to clear the overdue amount. It is submitted that the possession of the vehicle may be returned only after the entire overdue amount is cleared. On payment of the entire overdue amount as above, the possession of the vehicle may be restored to the petitioner. 4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the WP(C) NO. 11425 OF 2025 3 2025:KER:25980 petitioner can be granted an opportunity to repay the total overdue amount in three equal monthly instalments, the first of which shall be paid on or before 10.04.2025 and the subsequent instalments shall be paid on the 10th day of every succeeding months 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.1,42,571/- along with any accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner in the following manner: i. The petitioner shall pay the overdue amount of Rs.1,42,571/- along with any accrued interest, costs and charges in three equal monthly instalments; ii. The first instalment shall be paid on or before 10.04.2025 and the subsequent instalments shall be paid on or before the 10th day of every succeeding months; iii. Petitioner shall continue to pay the regular EMI’s/instalments along with the instalments directed above; iv. In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; WP(C) NO. 11425 OF 2025 4 2025:KER:25980 v. On payment of the entire overdue amount as directed above, the possession of the vehicle may be restored to the petitioner. The writ petition is disposed of as above. sd/- GOPINATH P. JUDGE Nsd WP(C) NO. 11425 OF 2025 5 2025:KER:25980 APPENDIX OF WP(C) 11425/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 28.02.2025 ISSUED BY THE 3RD RESPONDENT Exhibit P2 TRUE COPY OF THE REQUEST DATED 17.03.2025 ISSUED BY THE PETITIONER TO THE RESPONDENTS 1 AND 2 Exhibit P3 TRUE COPY OF THE RECEIPT DATED 18.03.2025 ISSUED BY THE INDIA POST