WP(C) NO. 12009 OF 2025 1 2025:KER:26613 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. 12009 OF 2025 PETITIONERS: 1 SHANEESH AGED 38 YEARS S/O CHANDRAN P.K., KEERAPILLY HOUSE, KADUNGALLOOR, ELOOKKARA, MUPPATHADAM P.O., ALUVA, PIN - 683110 2 KANAKA AGED 58 YEARS W/O CHANDRAN P.K., KEERAPILLY HOUSE, KADUNGALLOOR, ELOOKKARA, MUPPATHADAM P.O., ALUVA, PIN - 683110 3 SHINY AGED 35 YEARS D/O CHANDRAN P.K, PULLATT HOUSE, KUTTAMASSERY, THOTTUMUGHAM P.O., ALUVA, PIN - 683101 BY ADV M.B.SHYNI RESPONDENT/S: 1 THE ALWAYE URBAN CO-OPERATIVE BANK LTD NO. 1623 HEAD OFFICE, MARKET ROAD, ALUVA PIN, PIN - 683101 2 THE AUTHORIZED OFFICER THE ALWAYE URBAN CO-OPERATIVE BANK LTD NO. 1623, HEAD OFFICE MARKET ROAD, ALUVA, PIN - 68310 BY ADV LEELA R. r 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. 12009 OF 2025 2 2025:KER:26613 JUDGMENT The petitioners have 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 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 account. 3. It is submitted on behalf of the respondent bank that the petitioners committed default in repayment of a house maintenance loan and the total overdue amount is Rs.3,81,808/-. 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 account. 4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the total overdue on condition that Rs.50,000/- shall be paid on or before 05.04.2025 and the balance amount shall be paid in 12 equal WP(C) NO. 12009 OF 2025 3 2025:KER:26613 monthly instalments, the first of which shall be paid on or before 05.05.2025 and the subsequent instalments shall be paid on the 5th 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.3,81,808/- along with any accrued interest, costs and charges from the petitioners and regularise the loan account of the petitioners in the following manner: i. The petitioners shall pay a sum of Rs.50,000/- on or before 05.04.2025; the balance overdue amount along with any accrued interest, costs and charges shall be repaid in 12 equal monthly instalments; ii. The first instalment shall be paid on or before 05.05.2025 and the subsequent instalments shall be paid on or before the 5th day of every succeeding months; 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; WP(C) NO. 12009 OF 2025 4 2025:KER:26613 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 Nsd WP(C) NO. 12009 OF 2025 5 2025:KER:26613 APPENDIX OF WP(C) 12009/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE FOR SALE UNDER SECTION 13 RULE8(5)(A)&9 OF THE SARFAESI ACT, 2002 ISSUED BY THE 1ST RESPONDENT DATED 21/03/2019 TO THE PETITIONERS Exhibit P2 THE TRUE COPY OF THE NOTICE DATED 13/02/2025 ISSUED BY THE ADVOCATE COMMISSIONER Exhibit P3 THE TRUE COPY OF THE APPLICATION DATED ON 20/02/2025