2025:KER:29326 W.P (C) No.11965/2025 -1- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 4TH DAY OF APRIL 2025 / 14TH CHAITHRA, 1947 WP(C) NO. 11965 OF 2025 PETITIONER/S: ABUTHAHIR A., AGED 52 YEARS S/O. K M ABDUL JABBAR (LATE), CHENNIYAMPALLAM KALAM, VADAVANNUR P. O., PALAKKAD, PIN - 678504 BY ADVS. FARHANA K.H. MUHASIN K.M. RESPONDENT/S: 1 THE AUTHORIZED OFFICER SBI KOLLENGODE BRANCH RETAIL ASSET SMALL AND MEDIUM ENTERPRISES CITY CREDIT CENTRE (RASMECCC), SBI BUILDING, ENGLISH CHURCH ROAD, PALAKKAD, PIN - 678001 2 THE BRANCH MANAGER, STATE BANK OF INDIA, KOLLENGODE BRANCH, AYSHWARYA ARCADE, OLD BAZAR ROAD, PALAKKAD, PIN - 678506 BY ADV AMAL GEORGE THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:29326 W.P (C) No.11965/2025 -2- J U D G M E N T Petitioner has approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act for recovery of the amounts due in respect of two loans availed by the petitioner namely a Cash Credit facility and a Term loan from the respondent bank. 2. During the course of hearing, the petitioner has confined the relief to an opportunity for repaying the amounts due in instalments. 3. It was submitted on behalf of the respondent bank that the petitioner committed default in repayment of the above loans. It is submitted that the outstanding amount in respect of the Cash Credit facility is Rs.4,41,244/- (as on 26-03-2025) and the overdue amount in respect of Term loan is Rs.2,48,000/-(as on 26-03-2025). 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 outstanding amount in respect of Cash Credit facility and overdue amount in respect of Term loan in limited instalments and regularise the Term loan. 4. Having heard the learned counsel for the petitioner and the learned Standing Counsel for the respondent bank and having regard to the facts and circumstances of the case and considering the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to 2025:KER:29326 W.P (C) No.11965/2025 -3- repay the outstanding amount in respect of Cash Credit facility in ten (10) equal monthly instalments and the overdue amount in respect of Term loan in Ten (10) equal monthly instalments . 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the outstanding amount of Rs.4,41,244/- and the overdue amount in respect of Term loan of Rs.2,48,000/- along with accrued interest, bank charges and costs from the petitioner and regularise the Term loan of the petitioner in the following manner:- (i) The outstanding amount of Rs.4,41,244/- in respect of Cash Credit facility together with any accrued interest, bank charges and costs shall be repaid in ten (10) equated monthly instalments; (ii) The overdue amount of Rs.2,48,000/- in respect of Term loan together with any accrued interest, bank charges and costs shall be repaid in ten (10) equated monthly instalments; (iii) The first instalment in respect of both loans shall be paid on or before 30-04-2025 and subsequent instalments shall be paid on or before the last working day of each succeeding month; (iv) Petitioner shall continue to pay the regular EMIs / instalments in respect of Term loan along with instalments as directed above; 2025:KER:29326 W.P (C) No.11965/2025 -4- (v) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; (vi) 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 AMG 2025:KER:29326 W.P (C) No.11965/2025 -5- APPENDIX OF WP(C) 11965/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED 23.08.2024