WP(C) NO. 12080 OF 2025 1 2025:KER:26776 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. 12080 OF 2025 PETITIONER: SHERY MATHEW, AGED 58 YEARS D/O LATE MATHEW, MUTTAKULAM HOUSE, POOMALA (P.O.), THRISSUR, PIN - 680581 BY ADV M.R.SASITH RESPONDENTS: 1 THE AUTHORIZED OFFICER PUNJAB NATIONAL BANK, MARKET ROAD, IIND FLOOR, ERNAKULAM, PIN - 682011 2 PUNJAB NATIONAL BANK MARKET ROAD, IIND FLOOR, REPRESENTED BY ITS AUTHORIZED OFFICER ERNAKULAM, PIN - 682011 BY ADVS. C.AJITH KUMAR VARSHA S.S. 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. 12080 OF 2025 2 2025:KER:26776 JUDGMENT Petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the 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 outstanding amount in instalments. 3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment of several credit facilities and the outstanding amount as on 28.02.2025 is Rs.13,32,338.43/-. 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 limited instalments. Counsel for the respondent bank submits that the loan accounts cannot be regularized as the security is common for all the loans. 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 outstanding amount in 15 instalments. 5. Accordingly, there will be a direction to the respondent WP(C) NO. 12080 OF 2025 3 2025:KER:26776 bank to accept repayment of the entire outstanding amount of Rs.13,32,338.43/- along with any accrued interest, costs and charges from the petitioner in the following manner: (i)The outstanding amount of Rs.13,32,338.43/- along with any accrued interest, costs and charges shall be repaid in 15 equated monthly instalments; (ii)The first instalment shall be paid on or before 05.04.2025 and the subsequent instalments shall be paid on or before the 5th day of every succeeding months; (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 Nsd WP(C) NO. 12080 OF 2025 4 2025:KER:26776 APPENDIX OF WP(C) 12080/2025 PETITIONER EXHIBITS Exhibit-P1 THE TRUE COPY OF THE POSSESSION NOTICE DATED 24.02.2025 ISSUED BY THE 1ST RESPONDENT.