WP(C) NO. 12113 OF 2025 1 2025:KER:26034 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. MONDAY, THE 24TH DAY OF MARCH 2025 / 3RD CHAITHRA, 1947 WP(C) NO. 12113 OF 2025 PETITIONERS: 1 REJI.R, AGED 46 YEARS W/O. JAYAN, RESIDING AT THODIYIL VEEDU, VIDHYA NAGAR, KOTTAMUKKU, CUTCHERRY.P.O, KOLLAM, PIN - 691013 2 JAYAN.K, AGED 49 YEARS S/O. KARUNAKARAN, RESIDING AT THODIYIL VEEDU,VIDHYA NAGAR, KOTTAMUKKU, CUTCHERRY.P.O,KOLLAM, PIN - 691013 BY ADV SWARAJ S. RESPONDENT: AUTHORISED OFFICER, THE QUILON CO- OPERATIVE URBAN BANK LTD POWER HOUSE ROAD, CHINNAKKADA, KOLLAM, PIN - 691001 BY ADV D.P.RENU THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 24.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 12113 OF 2025 2 2025:KER:26034 JUDGMENT The petitioners have 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 petitioners. 2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account. 3. It was submitted on behalf of the respondent bank that the petitioners committed default in repayment of a loan and the total overdue amount is Rs.66,437/-. It was 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 petitioners can be granted an opportunity to repay the total overdue in eight equal monthly instalments, the first of which shall be paid on or before 29.03.2025 and the subsequent instalments shall be paid on the last working 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. 12113 OF 2025 3 2025:KER:26034 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.66,437/- along with any accrued interest, costs and charges from the petitioners and regularise the loan account of the petitioners in the following manner: i. The petitioners shall pay a the overdue amount along with any accrued interest, costs and charges in eight equal monthly instalments; ii. The first instalment shall be paid on or before 29.03.2025 and the subsequent instalments shall be paid on or before the last working day of every succeeding months; iii. Petitioners 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 petitioners 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. 12113 OF 2025 4 2025:KER:26034 APPENDIX OF WP(C) 12113/2025 petitioners EXHIBITS Exhibit P1 A TRUE COPY OF THE PAYMENT RECEIPT DATED 30/10/2024 Exhibit P2 A TRUE COPY OF THE PAYMENT RECEIPT DATED 10/01/2025 Exhibit P3 A TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER UNDER THE PROVISION OF SARFAESI ACT 2002 DATED 10-03-2025