2025:KER:29918 WP(C) NO. 11827 OF 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. MONDAY, THE 7TH DAY OF APRIL 2025 / 17TH CHAITHRA, 1947 WP(C) NO. 11827 OF 2025 PETITIONER/S: 1 SUDARSAN A.S.,AGED 58 YEARS S/O. SREEDHARAN, AIRANKKATTU HOUSE, PERUVA P.O., KOTTAYAM DISTRICT, PIN - 686610 2 INDIRAMANI,AGED 69 YEARS D/O. SREEDHARAN, KARTHIKA NIVAS, CMC-6, VARANAD P.O., KOKKOTHAMANGALAM, ALAPPUZHA DISTRICT, PIN - 688583 3 RADHAMANI N.,AGED 77 YEARS D/O. SREEDHARAN, AIRANKKATTU HOUSE, PERUVA P.O., KOTTAYAM DISTRICT, PIN - 686610 4 JAYAMOL T.,AGED 51 YEARS W/O. SUDARSAN, AIRANKKATTU HOUSE, PERUVA P.O., KOTTAYAM DISTRICT, PIN - 686610 BY ADVS. E.N.VISHNU NAMBOODIRI P.SANKARAN NAMPOOTHIRI NARAYANAN P POTTY M.K.SASEENDRAN (MELEL) RESPONDENT/S: 1 KADUTHURUTHY URBAN CO-OPERATIVE BANK LTD. NO. K-399, KOTTAYAM DISTRICT, REPRESENTED BY ITS MANAGER, PIN - 686604 2 THE AUTHORISED OFFICER, KADUTHURUTHY URBAN CO-OPERATIVE BANK LTD. NO. K-399, KOTTAYAM DISTRICT, PIN - 686604 2025:KER:29918 WP(C) NO. 11827 OF 2025 2 3 THE OFFICER IN CHARGE, LECARE PROPERTY CONSULTANCY, D9, HEAVENLY PLAZA, PADAMUGAL, ERNAKULAM, PIN - 682021 4 THE OFFICER IN CHARGE, M/S. LEGAL ICON, PALARIVATTOM, ERNAKULAM, PIN - 682025 BY ADV RENJITH.R NAIR SRI. RENJITH R. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:29918 WP(C) NO. 11827 OF 2025 3 JUDGMENT Petitioners availed credit facilities from the respondent bank. Petitioners have approached this Court, challenging proceedings initiated by the respondent Bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due from the petitioners. 2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan accounts. 3. It is submitted on behalf of the respondent bank that the petitioners availed two loans from the respondent bank and committed default in repayment and the overdue amount (in respect of both the loans), as on 07.04.2025, would come to Rs.7,23,550/- (Rupees Seven lakh twenty three thousand five hundred and fifty only). 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 overdue amount in limited 2025:KER:29918 WP(C) NO. 11827 OF 2025 4 instalments and regularise 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 of Rs.7,23,550/- (Rupees Seven lakh twenty three thousand five hundred and fifty only) along with any accrued interest, cost and charges in twelve instalments and thereafter, if the amount so directed is repaid within the time as 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.7,23,550/- (Rupees Seven lakh twenty three thousand five hundred and fifty only) along with accrued interest, cost and bank charges from the petitioners and regularise the loan accounts of the petitioners in the following manner:- (i) The petitioners shall pay the overdue amount of Rs.7,23,550/- (Rupees Seven lakh twenty three thousand five hundred and fifty only) along with any accrued interest, cost and charges in twelve equated monthly instalments; (ii)The first instalment shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on or before the last working day of each succeeding months; 2025:KER:29918 WP(C) NO. 11827 OF 2025 5 (iii)Petitioners 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 petitioners 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 ajt 2025:KER:29918 WP(C) NO. 11827 OF 2025 6 APPENDIX OF WP(C) 11827/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF NOTICE DATED 19.9.2024 ISSUED BY 1ST AND 2ND RESPONDENT TO THE PETITIONERS 1 TO 3 Exhibit P2 TRUE COPY OF THE COMMUNICATION DATED 2.12.2024 SENT BY 1ST RESPONDENT TO THE 1ST PETITIONER Exhibit P3 TRUE COPY OF WRITTEN COMMUNICATION DATED 18.12.2024 ISSUED BY 3RD RESPONDENT TO 1ST PETITIONER Exhibit P4 TRUE COPY OF NOTICE DATED 12.3.2025 ISSUED BY ADVOCATE COMMISSIONER TO THE PETITIONERS Exhibit P5 TRUE COPY OF THE PASSBOOK ISSUED BY 1ST RESPONDENT TO 1ST PETITIONER DATED NIL Exhibit P6 TRUE COPY OF THE PASSBOOK ISSUED BY 1ST RESPONDENT TO 3RD PETITIONER DATED NIL Exhibit P7 TRUE COPY OF THE PASSBOOK ISSUED BY 1ST RESPONDENT TO 4TH PETITIONER DATED NIL