WP(C) NO. 12064 OF 2025 1 2025:KER:26614 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. 12064 OF 2025 PETITIONER: AMMINI POULOSE, AGED 73 YEARS W/O. C.V. POULOSE, H. NO.14/ 972, CHAKKALAKKAL HOUSE, NAZRATH, KURUSHUPARAMBU, MATTANCHERRY, ERNAKULAM, PIN - 682002 BY ADVS. M.R.JAYAPRASAD ASHOK K.V. RESPONDENTS: 1 THE PUNJAB NATIONAL BANK, CIRCLE SASTRA, ERNAKULAM REPRESENTED BY ITS CHAIRMAN & BOARD OF DIRECTORS, HEAD OFFICE, AT PLOT NO. 4, SECTOR 10, DWARKA, NEW DELHI, PIN - 110075 2 CHIEF MANAGER, PUNJAB NATIONAL BANK LIMITED, CIRCLE SASTRA, ERNAKULAM 40/ 1461, 1STR FLOOR, CIRCLE OFFICE, PNB HOUSE, MARKET ROAD, ERNAKULAM, PIN - 682011 SRI. SANTHEEP ANKARATH, 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. 12064 OF 2025 2 2025:KER:26614 JUDGMENT The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent 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 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 of a housing loan and the total overdue amount as on 25.03.2025 is Rs.1,30,167.88/-. 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 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 total overdue amount in 8 equal monthly instalments, the first of which shall be paid on or before 10.04.2025 and the subsequent instalments shall be paid on the 10th day of every succeeding months and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. WP(C) NO. 12064 OF 2025 3 2025:KER:26614 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.1,30,167.88/- along with any accrued interest, costs and charges 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.1,30,167.88/- along with any accrued interest, costs and charges in eight equal monthly instalments; ii. The first instalment shall be paid on or before 10.04.2025 and the subsequent instalments shall be paid on or before the 10th day of every succeeding months; 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 Nsd WP(C) NO. 12064 OF 2025 4 2025:KER:26614 APPENDIX OF WP(C) 12064/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE RELEVANT PAGES OF THE PASSBOOK ISSUED FROM THE BANK FOR THE PERIOD 31.07.2023 TO 18.12.2024 Exhibit P2 TRUE COPY OF THE NOTICE DATED 14.12.2023 ISSUED BY THE RESPONDENTS Exhibit P3 TRUE COPY OF THE RECEIPT FOR THE PAYMENT OF THE AMOUNT OF RS 1,00,000/- IN THE NAME OF SHAJU VARGHESE ON 18.12.2024 Exhibit P4 TRUE COPY OF NOTICE ISSUED BY THE ADVOCATE COMMISSIONER SHILPA P.T. DATED 04.03.2025 Exhibit P5 TRUE COPY OF THE RECEIPT FOR PAYMENT OF RS.85,000/- ON 21.03.2025