2025:KER:31648 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 10TH DAY OF APRIL 2025 / 20TH CHAITHRA, 1947 WP(C) NO. 12034 OF 2025 PETITIONER/S: MUHAMMED MUSTAFA, AGED 48 YEARS S/O MUHAMMEDALI, ALIKKAPARAMBIL HOUSE, MANKADA, KADANNAMANNA P.O., MALAPPURAM, PIN - 679324 BY ADVS. ADITHYA VARMA S. RAMEES P.K. RESPONDENT/S: 1 THE URBAN CO-OPERATIVE BANK LTD. PERINTHALMANNA REPRESENTED BY SECRETARY, HEAD OFFICE, URBANK TOWER, PATTAMBI ROAD, SHANTHI NAGAR, PERINTHALMANNA, PIN - 679322 2 AUTHORISED OFFICER, THE URBAN COOPERATIVE BANK LTD PERINTHALMANNA, HEAD OFFICE, URBANK TOWER, PATTAMBI ROAD, SHANTHI NAGAR, PERINTHALMANNA, PIN - 679322 3 BRANCH MANAGER, THE URBAN COOPERATIVE BANK LTD PERINTHALMANNA, MANKADA BRANCH, MANKADA, MALAPPURAM DISTRICT, PIN - 679324 2025:KER:31648 W.P.(C)No.12034 of 2025 2 BY ADVS. JAYASREE K.P. JOHN JOSEPH(K/000875/2019) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:31648 W.P.(C)No.12034 of 2025 3 JUDGMENT The 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 loan availed by the petitioner. 2. During the course of hearing, petitioner has 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 petitioner committed default in repayment and the overdue amount as on 10.04.2025 is Rs.3,05,000/-. 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 overdue amount in limited instalments and regularise the loan account. 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 the submissions made 2025:KER:31648 W.P.(C)No.12034 of 2025 4 as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs/instalments, I am of the view that the petitioner can be granted an opportunity to clear off the overdue amount in ten (10) equal monthly instalments first of which shall be paid on or before 30.04.2025 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.3,05,000/- along with interest, bank charges and costs from the petitioner and regularise the loan account of the petitioner in the following manner: (i) The petitioner shall pay the overdue amount of Rs.3,05,000/- together with any accrued interest, bank charges and costs in ten equated monthly instalments; (ii) The first instalment shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid 2025:KER:31648 W.P.(C)No.12034 of 2025 5 on or before last working day of each succeeding month; (iii) Petitioner 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; (v) 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:31648 W.P.(C)No.12034 of 2025 6 APPENDIX OF WP(C) 12034/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF SALE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 06/03/2025 Exhibit P2 TRUE COPY OF LAND TAX RECEIPT OF THE SECURED ASSET DATED 13/05/2024 Exhibit P3 TRUE COPY OF REPRESENTATION SENT BY PETITIONER TO THE RESPONDENT DATED 15/03/2025