2025:KER:26620 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. 12078 OF 2025 PETITIONER: BINDHU VIJAYAN, AGED 45 YEARS, W/O. VIJAYAN, PADINJAREMURIYIL HOUSE, KIDANGOOR SOUTH POST, KOTTAYAM, KOTTAYAM DISTRICT, PIN – 686 583. BY ADV JOSEPH T.JOHN RESPONDENTS: 1 THE AUTHORIZED OFFICER, KERALA BANK, KOTTAYAM REGIONAL OFFICE CENTRAL JUNCTION, KOTTAYAM, PIN – 686 001. 2 THE BRANCH MANAGER, KERALA BANK, KADAPLAMATTOM BRANCH, KADAPLAMATTOM POST, KOTTAYAM, PIN – 686 571. BY ADV. ATHUL SHAJI, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 25.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:26620 WP(C) 12078/2025 2 JUDGMENT Petitioner availed a loan from the respondent bank. On default being committed proceedings have been initiated against the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), prompting the petitioner to approach this Court by filing the above writ petition. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in installments and to obtain regularization 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 25-03-2025, is Rs.2,37,144/-. 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 installments and regularize the loan account. 2025:KER:26620 WP(C) 12078/2025 3 4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the overdue amount in 10 installments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularized. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.2,37,144/- along any with accrued interest, costs and charges from the petitioner and regularize the loan account of the petitioner in the following manner: (i) The petitioner shall pay the overdue amount of Rs.2,37,144/- in 10 equated monthly installments along with any accrued interest, costs and charges; (ii) The first installment shall be paid on or before 15-04-2025. The subsequent installments shall be paid on or before the 15th day of the succeeding months; 2025:KER:26620 WP(C) 12078/2025 4 (iii) Petitioner shall continue to pay the regular EMI’s/installments along with the installments as directed above; (iv) In the event of default of any one installment, 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 ats 2025:KER:26620 WP(C) 12078/2025 5 APPENDIX OF WP(C) 12078/2025 PETITIONER’S EXHIBITS Exhibit P1 A TRUE COPY OF THE STATEMENT ACCOUNTS AS ON 28.02.2024 Exhibit P2 A TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT ON 15.02.2024 Exhibit P3 A TRUE COPY OF THE NOTICE HAS ISSUED BY THE 1ST RESPONDENT TO DEMAND TO PAY THE ENTIRE AMOUNT ON OR BEFORE 26.11.2024 TO THE PETITIONER Exhibit P4 A TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER DATED 6-1-2025 Exhibit P5 A TRUE COPY OF THE NOTICE DATED 14.03.2025 ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONER Exhibit P6 A TRUE COPY OF THE DETAILED REPRESENTATION FILED BY THE PETITIONER BEFORE THE 2ND RESPONDENT DATED 17-3-2025 Exhibit P7 A TRUE COPY OF THE STATEMENT OF THE CHIEF MINISTER OF KERALA WHILE IN A SPEECH RENDERED IN STATE LEGISLATIVE ASSEMBLY