WP(C) NO. 11969 OF 2025 1 2025:KER:28519 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 1ST DAY OF APRIL 2025 / 11TH CHAITHRA, 1947 WP(C) NO. 11969 OF 2025 PETITIONER: GRACY DEEP, AGED 55 YEARS W/O ANTONY, THE SECRETARY MANASSERY FISHERMEN DEVELOPMENT WELFARE CO-OPERATIVE SOCIETY LTD, NO. DF (E) 96/92, COCHIN, MUNDAMVELY P.O. ERNAKUALM, KERALA, PIN - 682507 BY ADVS. SHERRY J. THOMAS JOEMON ANTONY RENISH RAVEENDRAN ANTONY NILTON REMELO ANJANA P.V. RESPONDENTS: 1 THE IDBI BANK LTD., PANAMPILLY NAGAR BRACH, IDBI BUILDING, NEAR TO PASSPORT OFFICE, PANAMPILLY NAGAR, KOCHI,REPRESENTED BY ITS MANAGER, PIN - 682036 2 AUTHORIZED OFFICER, THE IDBI BANK LTD. PANAMPILLY NAGAR BRACH, IDBI BUILDING, NEAR TO PASSPORT OFFICE, PANAMPILLY NAGAR, KOCHI, PIN - 682036 SRI. M.S.KIRAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 11969 OF 2025 2 2025:KER:28519 JUDGMENT Petitioner is the Secretary of Manassery Fishermen Development Welfare Co-operative Society Ltd. By mortgaging petitioner’s property, the Society availed a loan from the respondent bank. On default being committed, proceedings have been initiated against the property of the petitioner under the provisions of the SARFAESI Act. 2. The learned counsel appearing for the petitioner submits that the respondent bank has filed a commercial suit for recovery of the amounts due and the same is pending before the Commercial Court, Ernakulam (Ext.P2). It is submitted that the amounts demanded in Ext.P2 are not correct and several amounts paid by the petitioner have not been credited by the respondent bank. It is submitted that the petitioner may be permitted to clear the liability in some installments. 3. The learned counsel appearing for the respondent bank submits that the outstanding amount as on 24.03.2025 is Rs.19,77,866/-. It is submitted that if the petitioner is disputing the amount claimed by the bank, the remedy of the petitioner lies in approaching the Debts Recovery Tribunal and does not lie in filing a Writ Petition before this Court. It is submitted that the Bank has no WP(C) NO. 11969 OF 2025 3 2025:KER:28519 objection in permitting the petitioner to clear the liability in some installments. 4. The learned counsel appearing for the petitioner submits that the petitioner will raise any dispute regarding the amounts demanded by the bank in the pending suit before the commercial court and subject to that right being reserved, the petitioner may be given liberty to pay off the outstanding amount in installments. 5. 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 outstanding amount in 15 instalments. 6. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.19,77,866/- along with any accrued interest, costs and charges from the petitioner in the following manner: (i)The outstanding amount of Rs.19,77,866/- along with any accrued interest, costs and charges shall be repaid in 15 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 every succeeding months; WP(C) NO. 11969 OF 2025 4 2025:KER:28519 (iii)In the event of default of any one instalment, the respondent bank shall be entitled to proceed 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. It is made clear that the disposal of this Writ Petition requiring the petitioner to pay off the outstanding amount in installments will not prevent the petitioner from raising any disputes regarding the amounts now demanded from the petitioner in the pending proceedings before the Commercial Court, Ernakulam. The writ petition is disposed of as above. sd/- GOPINATH P. JUDGE Nsd WP(C) NO. 11969 OF 2025 5 2025:KER:28519 APPENDIX OF WP(C) 11969/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 02-05-2024 Exhibit P2 THE TRUE COPY OF THE SUIT FOR RECOVERY OF MONEY IN CS 105/2024 BEFORE THE COMMERCIAL COURT ERNAKULAM DATED 08-09-2024 Exhibit P3 THE TRUE COPY OF THE WRITTEN STATEMENT FILED BY THE PETITIONER IN CS 105/2024 BEFORE THE COMMERCIAL COURT ERNAKULAM DATED 06-02-2025 Exhibit P4 THE TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 31-01-2025 Exhibit P5 THE TRUE COPY OF THE TRANSACTIONS DETAILS