2025:KER:28140 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 2ND DAY OF APRIL 2025 / 12TH CHAITHRA, 1947 WP(C) NO. 12254 OF 2025 PETITIONER/S: 1 AMIN MOHAMMED, AGED 26 YEARS S/O. SAJIMON K.A., VALIYAPARAMPIL HOUSE, VEROOR P.O., CHETHIPUZHA, KOTTAYAM, KERALA, PIN - 686104 2 SAJIMON K.A., AGED 53 YEARS VALIYAPARAMPIL HOUSE, VEROOR P.O., CHETHIPUZHA, KOTTAYAM, KERALA, PIN - 686104 3 SHAHUBANATH K., AGED 48 YEARS W/O. SAJIMON K.A., VALIYAPARAMPIL HOUSE, VEROOR P.O., CHETHIPUZHA, KOTTAYAM, KERALA, PIN - 686104 BY ADVS. S.JATHIN DAS S.SOUMYA ISSAC ARUN S. RESPONDENT/S: 1 SOUTH INDIAN BANK LTD., REGIONAL OFFICE- KOTTAYAM REGENCY SQUARE, K.K. ROAD, COLLECTORATE P.O., KOTTAYAM, KERALA REPRESENTED BY IT’S AUTHORIZED OFFICER, PIN - 2025:KER:28140 W.P.(C)No.12254 of 2025 2 686002 2 MANAGER, SOUTH INDIAN BANK LTD., CHETHIPUZHA BRANCH, MOZHIKKADU BUILDING, VAZHOOR ROAD, KURISUMMOODU P.O., CHANGANACHERRY, KOTTAYAM, PIN - 686104 BY ADVS. Sunil Shankar A VIDYA GANGADHARAN(K/000424/2020) DEVAYANI NAIR T.H.(K/1531/2019) OTHER PRESENT: SRI. SUNIL SHANKER THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28140 W.P.(C)No.12254 of 2025 3 JUDGMENT The petitioners availed an educational loan from the respondent bank. On default being committed, proceedings have been initiated against the petitioners under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prompting the petitioners to approach this court by filing the above writ petition. 2. The learned counsel appearing for the petitioners would submit that the petitioners may be permitted to clear the entire liability in installments. 3. The learned counsel appearing for the respondent bank submits that the outstanding amount due from the petitioners as on 31.03.2025 is Rs.48,63,318.79/-. It is submitted that while the respondent bank has no objection in granting some limited installments to clear the liability, the number of installments may be limited to five installments. 4. Having heard the learned counsel for the petitioners and the learned Standing counsel appearing for the respondent bank and 2025:KER:28140 W.P.(C)No.12254 of 2025 4 having regard to the facts and circumstances of the case and considering the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the outstanding amount in ten (10) installments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire amount of Rs.48,63,318.79/- along with interest, bank charges and costs from the petitioners in the following manner: (i) The petitioners shall pay the outstanding amount of Rs.48,63,318.79/- together with any accrued interest, bank charges and costs in ten equated monthly instalments; (ii) The first instalment shall be paid on or before 20.04.2025 and the subsequent instalments shall be paid on or before last working day of each succeeding month; (iii) In the event of default of any one instalment, the 2025:KER:28140 W.P.(C)No.12254 of 2025 5 respondent bank shall be entitled to proceed in accordance with the law; (iv) 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 Scl/ 2025:KER:28140 W.P.(C)No.12254 of 2025 6 APPENDIX OF WP(C) 12254/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE ISSUED BY THE RESPONDENT BANK DATED 17.05.2024 Exhibit P2 TRUE COPY OF THE NOTICE DATED 17.03.2025 ISSUED BY THE ADVOCATE COMMISSIONER TO THE 1ST PETITIONER Exhibit P2(a) TRUE COPY OF THE NOTICE DATED 17.03.2025 ISSUED BY THE ADVOCATE COMMISSIONER TO THE 2ND PETITIONER Exhibit P2(b) TRUE COPY OF THE NOTICE DATED 17.03.2025 ISSUED BY THE ADVOCATE COMMISSIONER TO THE 3RD PETITIONER