2025:KER:27381 W.P (C) No.12220/2025 -1- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 28TH DAY OF MARCH 2025 / 7TH CHAITHRA, 1947 WP(C) NO. 12220 OF 2025 PETITIONER/S: MARAKKAR, AGED 60 YEARS S/O. KUNJI KOYA HAJI, KALIYATH HOUSE, IRIMBILLIYAM P.O., MALAPPURAM DISTRICT, PIN - 679572 BY ADVS. KEERTHI M. ARJUN RAJA P.C. AKSHAY VENU RESPONDENT/S: 1 THE PERINTHALMANNA URBAN CO-OPERATIVE BANK LTD. NO.1758, REPRESENTED BY AUTHORISED OFFICER, HEAD OFFICE, PERINTHALMANNA, PB NO.10, URBAN BANK BUILDING, PATTAMBI ROAD, PERINTHALMANNA, PIN - 679322 2 AUTHORISED OFFICER, THE PERINTHALMANNA URBAN CO-OPERATIVE BANK LTD. NO.1758, HEAD OFFICE, PERINTHALMANNA, PB NO.10, URBAN BANK BUILDING, PATTAMBI ROAD, PERINTHALMANNA, PIN - 679322 OTHER PRESENT: SMT. JAYASREE K.P., SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27381 W.P (C) No.12220/2025 -2- J U D G M E N T The petitioner availed a Cash Credit facility from the respondent bank. On default being committed, proceedings have been initiated against the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prompting the petitioner to approach this court by filing the above writ petition. 2. The learned counsel appearing for the petitioner would submit that the petitioner may be permitted to clear the entire liability in installments. 3. The learned counsel appearing for the respondent bank submits that this is the second round of litigation before this court. It is submitted that a securitization application as SA No.803/2024 is pending before the Debts Recovery Tribunal-I, Ernakulam at the instance of the petitioner. It is submitted that notwithstanding the above, if the petitioner is willing to withdraw SA No.803/2024, the bank is willing to grant some limited instalments to the petitioner to clear the outstanding liability, also taking into consideration of the fact that there were no bidders for the sale of the property which was scheduled to be held today (28-03-2025). It is submitted that considering the fact that this is the second round of litigation before this court, the number of instalmnet may be limited and substantial amount may be directed to be paid immediately. 2025:KER:27381 W.P (C) No.12220/2025 -3- 4. Having heard the learned counsel for the petitioner and the learned Standing counsel appearing for the respondent bank and 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 petitioner can be granted an opportunity to repay the outstanding amount in installments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.1,19,38,820/- along with interest, bank charges and costs from the petitioner in the following manner: (i) The petitioner shall pay an amount of Rs.25,00,000/- on or before 15-04-2025 and the balance outstanding amount of Rs.94,38,820/- together with any accrued interest, bank charges and costs shall be repaid in ten (10) equated monthly instalments; (ii) The first instalment shall be paid on or before 15-05-2025 and subsequent instalments shall be paid on or before 15th working day of each succeeding month; (iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; 2025:KER:27381 W.P (C) No.12220/2025 -4- (iv) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance. (v) The petitioner shall unconditionally withdraw S.A. No.803/2024 within a period of two weeks from today (28-03- 2025). The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE AMG 2025:KER:27381 W.P (C) No.12220/2025 -5- APPENDIX OF WP(C) 12220/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE INTERIM ORDER DATED 17/11/2023 IN W.P(C) NO. 38031/2023 Exhibit P2 TRUE COPY OF JUDGMENT DATED 09/02/2024 IN W.P(C) NO. 38031/2023 Exhibit P3 TRUE COPY OF THE NOTICE DATED 10/03/2025 ISSUED BY THE 2ND RESPONDENT