2025:KER:27370 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 28TH DAY OF MARCH 2025 / 7TH CHAITHRA, 1947 WP(C) NO. 11718 OF 2025 PETITIONER: MANOJ KUMAR, AGED 51 YEARS, S/O PANKUNNI, THEKKINKATIL HOUSE, MANUR PO, PALAKKAD, KERALA, PIN – 678642. BY ADVS. AJMAL P. HASEENA K.A. RESPONDENTS: 1 KERALA STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE, PALAKKAD P.B NO.21,H.P.O. ROAD, SULTHANPET, PALAKKAD, KERALA, REPRESENTED BY ITS BRANCH MANAGER, PIN – 678001. 2 THE BRANCH MANAGER, KERALA STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE, PALAKKAD P.B NO.21,H.P.O. ROAD, SULTHANPET, PALAKKAD, KERALA, PIN – 678001. 3 AUTHORISED OFFICER (EXECUTIVE OFFICER), KERALA STATE CO-OPERATIVE BANK LTD.,(PALAKKAD DISTRICT CO-OPERATIVE BANK),REGIONAL OFFICE, PB NO. 21,HPO ROAD,PALAKKAD, PIN – 678001. WP(C) NO. 11718 OF 2025 2 2025:KER:27370 4 SREERAJ MS, AGED 50 YEARS, S/O SWAMINATHAN, THEKKINKATIL HOUSE,MANUR PO, PALAKKAD, KERALA, PIN – 678642. BY ADV AKSHAYA S.NAIR SRI. K.S.ARUNKUMAR, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 11718 OF 2025 3 2025:KER:27370 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 accounts. 3. It was submitted on behalf of the respondent Bank that the petitioner committed default in repayment of a housing loan and a Covid Suraksha loan and the entire overdue amount as on today (28.03.2025) is Rs.2,77,614/-(Rupees two lakhs seventy seven thousand six hundred and fourteen only). It was 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 accounts. 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 along with any accrued interest, costs and charges in six instalments and thereafter, if the amount so directed is repaid within the time as WP(C) NO. 11718 OF 2025 4 2025:KER:27370 directed above, to have the loan accounts regularised. 5. Accordingly, there will be a direction to the respondent Bank to accept repayment of the entire overdue amount of Rs.2,77,614/-(Rupees two lakhs seventy seven thousand six hundred and fourteen only) along with any accrued interest, costs and charges from the petitioner and regularise the loan accounts of the petitioner in the following manner: i. The overdue amount of Rs.2,77,614/-(Rupees two lakhs seventy seven thousand six hundred and fourteen only) along with any accrued interest, costs and charges shall be repaid in six equated monthly instalments; ii. The first instalment shall be paid on or before 15.04.2025 and the subsequent instalments shall be paid on or before the 15th 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; 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 DK WP(C) NO. 11718 OF 2025 5 2025:KER:27370 APPENDIX OF WP(C) 11718/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE PAPER PUBLICATION LETTER ISSUED BY THE 2ND RESPONDENT, DATED 06-01-2025 Exhibit P2 RELEVANT PORTION OF THE DESHABHIMANI NEWS PAPER DT.25-12-2024 Exhibit P3 TRUE COPY OF THE RESERVED PRICE INTIMATION LETTER DT.01-02-2025 ISSUED BY THE 2ND RESPONDENT