2025:KER:28151 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 2ND DAY OF APRIL 2025 / 12TH CHAITHRA, 1947 WP(C) NO. 12011 OF 2025 PETITIONER/S: HARIPRIYA .S. AGED 51 YEARS C/O VIJAYAKUMAR G,ANJANAM,ELAMADE P.O.,AYOOR,KOLLAM., PIN - 691533 BY ADVS. S.K.ADHITHYAN REUBEN CHARLY SHAHINA NOUSHAD VYSHNAV S. NAIR CHRISTY THOMAS RESPONDENT/S: 1 THE KERALA STATE COOPER,ATIVE BANK LIMITED & ANR AYOOR BRANCH,KOLLAM REP BY ITS MANAGER, PIN - 691536 2 AUTHORIZED OFFICER, THE KERALA STATE COOPERATIVE BANK LIMITED, AYOOR BRANCH, KOLLAM, PIN - 691536 OTHER PRESENT: SRI. P.C.SASIDHARAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28151 W.P.(C)No.12011 of 2025 2 JUDGMENT Petitioner has approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due upon a credit facility availed by the petitioner. 2. The learned counsel appearing for the petitioner would submit that the petitioner may be permitted to clear the entire liability in some installments. 3. The learned counsel appearing for the respondent Bank submits that the loan account of the petitioner cannot be regularised. It is submitted that as on 24-03-2025, the total outstanding amount in both the loan accounts together is Rs.17,60,279/-. The bank has no objection in granting some reasonable installments to clear the liabilities provided substantial amount will be paid immediately. 4. Having heard the learned counsel for the petitioner and the learned Standing counsel appearing for the respondent bank and having regard to the facts and circumstances of the case and 2025:KER:28151 W.P.(C)No.12011 of 2025 3 considering the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount on condition that the petitioner will pay a sum of Rs.2,50,000/- on or before 30.04.2025 and the balance outstanding amount in twelve installments. in twelve (12) installments. 5. in twelve (12) installments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.17,60,279/- along with interest, bank charges and costs from the petitioner in the following manner: (i) The petitioner shall pay an amount of Rs.2,50,000/- on or before 30.04.2025 and the balance outstanding amount together with any accrued interest, bank charges and costs in twelve (12) equated monthly instalments; (ii) The first instalment shall be paid on or before 30.05.2025 and subsequent instalments shall be paid on or before last day of each succeeding month; 2025:KER:28151 W.P.(C)No.12011 of 2025 4 (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. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE Scl/ 2025:KER:28151 W.P.(C)No.12011 of 2025 5 APPENDIX OF WP(C) 12489/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF NOTICE ISSUED BY RESPONDENT ON 25.08.2023 Exhibit P2 NOTICE DATED 17.10.2024 ISSUED BY THE RESPONDENT Exhibit P3 TRUE COPY OF NOTICE DATED 24.10.2024 ISSUED BY 1ST RESPONDENT Exhibit P4 TRUE COPY OF NOTICE DATED 19.03.2025