WP(C) NO. 12098 OF 2025 1 2025:KER:26762 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. 12098 OF 2025 PETITIONER: SUNIL KUMAR T.V.,AGED 43 YEARS S/O. THULASEEDHARAN ASHARI, T.V. NIVAS, PUTHUMANGALAM, MITHRANIKETHAN, VELLANAD, THIRUVANANTHAPURAM DISTRICT, PIN - 695543 BY ADVS. SHAJIN S.HAMEED GISON ALIYAS RESPONDENT/S: AADHAR HOUSING FINANCE LIMITED, (FORMERLY KNOWN AS DHFL VYSYA HOUSING FINANCE LTD.), REPRESENTED BY ITS AUTHORIZED OFFICER, DOOR NO.62/ 4783, RAMLEELA, 1 FLOOR, MAHAKAVI G ROAD, IYYATTIL JUNCTION, KOCHI, PIN - 682011 SRI. M.PREMCHAND, 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. 12098 OF 2025 2 2025:KER:26762 JUDGMENT The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent financial institution 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 financial institution that the petitioner committed default in repayment of a housing loan and the total overdue amount as on 25.03.2025 is Rs.7,00,019/-. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent financial institution 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 on condition that Rs.1,00,000/- shall be paid on or WP(C) NO. 12098 OF 2025 3 2025:KER:26762 before 05.04.2025 and the balance amount shall be paid in 12 equal monthly instalments, the first of which shall be paid on or before 05.05.2025 and the subsequent instalments shall be paid on the 5th 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. 5. Accordingly, there will be a direction to the respondent financial institution to accept repayment of the entire overdue amount of Rs7,00,019/- 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 a sum of Rs.1,00,000/- on or before 05.04.2025; the balance overdue amount along with any accrued interest, costs and charges shall be repaid in twelve equal monthly instalments; ii. The first instalment shall be paid on or before 05.05.2025 and the subsequent instalments shall be paid on or before the 5th day of every succeeding months; iii. Petitioner shall continue to pay the regular EMI’s/instalments along with the instalments directed above; WP(C) NO. 12098 OF 2025 4 2025:KER:26762 iv. In the event of default of any one instalment, the respondent financial institution 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. 12098 OF 2025 5 2025:KER:26762 APPENDIX OF WP(C) 12098/2025 PETITIONER EXHIBITS Exhibit-P1 TRUE COPY OF THE NOC FOR CONSTRUCTION DATED 04/12/2018 ISSUED BY THE VELLANADU, GRAMA PANCHAYAT UNDER THE LIFE SCHEME IN THE NAME OF THE WIFE OF PETITIONER. Exhibit-P2 TRUE COPY OF THE INSURANCE CERTIFICATE ISSUED BY THE DHFL PRIMERICA LIFE INSURANCE COMPANY DATED NIL. Exhibit-P3 TRUE COPY OF THE DEMAND NOTICE DATED 12/07/2021 ISSUED BY THE RESPONDENT TO THE PETITIONER. Exhibit-P4 TRUE COPY OF THE NOTICE DATED 10/03/2025 ISSUED BY THE ADVOCATE COMMISSIONER IN M.C.NO.1212/2024 ON THE FILE OF CHIEF JUDICIAL MAGISTRATE, THIRUVANANTHAPURAM.