2025:KER:30491 W.P (C) No.11567/2025 -1- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 8TH DAY OF APRIL 2025 / 18TH CHAITHRA, 1947 WP(C) NO. 11567 OF 2025 PETITIONER/S: SHERIN KASIM, AGED 40 YEARS W/O SHABIN VILAYIL MUHAMMED BASHEER, VILAYIL ROSE VILLA, ATIKKATTUKULANGARA P.O., ALAPPUZHA, PIN - 690504 BY ADVS. LEEJOY MATHEW.V. SABU S.KALLARAMOOLA SINDHU MATHEW SIMSAR UL HAQ K.Y ATHIRA C.K. RESPONDENT/S: 1 AXIS BANK LIMITED, SECOND FLOOR, NIHAL COMPLEX, KARAMANA, THIRUVANANTHAPURAM, REPRESENTED BY ITS AUTHORIZED OFFICER, PIN - 695002 2 BRANCH MANAGER, AXIS BANK LTD,NO.51/1, M C ROAD,RAMANCHIRA , MUTHOOR ,THIRUVALLA , PATHANAMTHITTA, PIN - 686107 BY ADVS. P.PAULOCHAN ANTONY P SREEJITH K.(K/380/2005) G.VISWANATHAN(K/001926/2021) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:30491 W.P (C) No.11567/2025 -2- J U D G M E N T The petitioner along with her husband obtained a Housing loan from the respondent bank. On default being committed proceedings were initiated against the petitioner and her husband under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the SARFAESI Act), prompting the petitioners to approach this court by filing W.P (C) No.38637/2024 which was disposed of by Ext.P1 judgment directing as follows:- “1. The petitioner shall pay Rs.3 lakhs along with one regular installment on or before 07.12.2024 and the remaining overdue amount in 10 equal monthly installments along with regular installments. The 1st installment is to be paid on or before 07.01.2025 and the remaining 9 installments are to be paid on or before 7th day of each succeeding month. 2. After making payment of the entire overdue amount as directed above, the Bank shall regularise the loan account of the petitioner to make payment in terms of the loan agreement. 3. In case of failure to make payment of Rs.3 lakhs along with one regular installment or any subsequent installments as directed above, the respondent Bank shall be free to proceed with the SARFAESI proceedings against the petitioner for realization of its dues, in accordance with law.” 2. The learned counsel for the petitioner would submit that though 2025:KER:30491 W.P (C) No.11567/2025 -3- there is a delay in paying the first instalment, the same was made up while paying the next instalments and yet the Authorised Officer of the respondent bank proceeded to take physical possession of the secured asset. 3. The learned counsel for the respondent bank submits that though the petitioner/her husband had remitted some amounts, the same was remitted to their savings account (NRO account) and was not remitted against the loan liability. It is submitted that in such circumstances the bank proceeded to take physical possession of the secured asset. It is submitted that the present overdue amount as on 08-04-2025 is Rs.11,49,118/-. It is submitted that a sum of Rs.4,45,000/- is available in the savings bank account of the petitioner. It is submitted that in the facts and circumstances of the case, if the petitioner were to permit the bank to adjust the amount of Rs.4,45,000/- in the savings bank account immediately, the petitioner can be given some further instalments. It is submitted that number of instalments may be limited to 3. 4. Having heard the learned counsel for the petitioner and the learned counsel for the respondent bank, in the facts and circumstances of the case noticed above, this writ petition will stand disposed of in the following manner:- (i) The respondent bank is permitted to forthwith adjust the amount of Rs.4,45,000/- available in the NRO account of the husband of the petitioner 2025:KER:30491 W.P (C) No.11567/2025 -4- towards the loan liability. The balance overdue amount of Rs.7,04,118/- together with any accrued interest, bank charges and costs shall be paid in 6 equal monthly instalments commencing from 30-04-2025. The subsequent instalments shall be paid on or before the last working day of each succeeding month; (ii) On payment of the first instalment on 30-04-2025, the possession of the secured asset shall be restored to the petitioner; (iii) If any further default is committed, the petitioner shall handover vacant possession of the secured asset to the Authorised Officer of the respondent bank and the bank may thereafter proceed with recovery 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. Writ petition is disposed of as above making it clear that if the amounts directed to be paid in terms of the judgment are being paid into the NRO account of the petitioner's husband, the same shall be done with specific instruction to adjust the same against the loan liability. Sd/- GOPINATH P. JUDGE AMG 2025:KER:30491 W.P (C) No.11567/2025 -5- APPENDIX OF WP(C) 11567/2025 PETITIONER EXHIBITS Exhibit P 1 A TRUE COPY OF THE JUDGMENT IN WP(C) 38637/2024 DATED 4.11.2024 Exhibit P 2 A TRUE COPY OF THE E-MAIL RECEIPT DATED 8.12.2024 SHOWING THE REMITTANCE Exhibit P 3 A TRUE COPY OF THE E-MAIL RECEIPT DATED 24.2.2025 SHOWING THE REMITTANCE Exhibit P 4 A TRUE COPY OF THE DEBIT TRANSACTION ALERT OF THE RESPONDENT BANK DEBITING RS 54,974/-DATED 10.12.2024 Exhibit P 5 A TRUE COPY OF THE NOTICE DATED 15.2.2025 INTIMATING PHYSICAL POSSESSION Exhibit P 6 A TRUE COPY OF THE LETTER DATED 25.2.2025 AND THE AD RECEIPT Exhibit P 7 A TRUE COPY OF THE LETTER DATED 25.2.2025 AND AD RECEIPTS Exhibit P 8 A TRUE COPY OF THE E-MAIL RECEIPT DATED 11.3.2025 SHOWING REMITTANCE CREDITED TO THE LOAN ACCOUNT OF THE PETITIONER