WP(C) NO. 11992 OF 2025 1 2025:KER:26609 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. 11992 OF 2025 PETITIONER/S: SULAIMAN, AGED 76 YEARS S/O.VEERAN, PALLATHU HOUSE, KARIYODU, ELAMBULASSERI P.O., PALAKKAD, PIN - 678595 BY ADVS. LINDONS C.DAVIS E.U.DHANYA P.JAHANGEER N.S.SHAMILA CHINJU P. JOYIES RESPONDENT/S: 1 THE KERALA STATE CO-OPERATIVE BANK REPRESENTED BY ITS BRANCH MANAGER, SREEKRISHNAPURAM BRANCH, 7/395, SIRAJ COMPLEX., SREEKRISHNAPURAM, PALAKKAD, PIN - 679513 2 BRANCH MANAGER,THE KERALA STATE CO-OPERATIVE BANK, SREEKRISHNAPURAM BRANCH, 7/395, SIRAJ COMPLEX, SREEKRISHNAPURAM, PALAKKAD, PIN - 679513 3 AUTHORIZED OFFICER,THE KERALA STATE CO-OPERATIVE BANK, PALAKKAD REGIONAL OFFICE, HEAD POST OFFICE ROAD, SULTHANPET, PALAKKAD P.O., PALAKKAD, PIN - 678001 SRI. K.S.ARUNKUMAR, SC 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. 11992 OF 2025 2 2025:KER:26609 JUDGMENT Petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the 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 outstanding amount in instalments. 3. It is submitted on behalf of the respondent bank that the petitioner availed an overdraft facility. It is submitted that the tenure of the loan has expired and therefore, the loan account cannot be regularized. It is submitted that the outstanding liability as on 28.02.2025 is Rs.56,30,354/-. It was further submitted that the bank has no objection in granting some reasonable installments to the petitioner to pay off the amount. 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 outstanding amount on condition that Rs.3,00,000/- shall be paid on or before 10.04.2025 and the balance oustanding amount shall be paid in 10 equal monthly instalments, the first of which shall be paid on or before 10.05.2025 and the subsequent instalments shall be paid on WP(C) NO. 11992 OF 2025 3 2025:KER:26609 the last working day of every succeeding months. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the outstanding amount of Rs.56,30,354/- along with accrued interest, costs and charges from the petitioners in the following manner: (i)The petitioners shall pay a sum of Rs.3,00,000/- on or before 10.04.2025; the balance outstanding amount along with any accrued interest, costs and charges shall be repaid in 10 equal monthly instalments; (ii)The first instalment shall be paid on or before 10.05.2025 and the subsequent instalments shall be paid on the 10th day of every succeeding months; (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 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. 11992 OF 2025 4 2025:KER:26609 APPENDIX OF WP(C) 11992/2025 PETITIONER EXHIBITS Exhibit P1 A COPY OF THE DEMAND NOTICE DATED 14.11.2024 ISSUED UNDER SECTION 13(2) OF SARFAESI ACT, BY THE 3RD RESPONDENT Exhibit P2 A COPY OF THE NOTICE DATED 13.02.2025 ISSUED UNDER SECTION 13(4) OF SARFAESI ACT, BY THE 3RD RESPONDENT