2025:KER:27919 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 1ST DAY OF APRIL 2025 / 11TH CHAITHRA, 1947 WP(C) NO. 12280 OF 2025 PETITIONERS: 1 NARAYANAN POTTY V., AGED 88 YEARS, S/O. VASUDEVAN POTTY, MOOTHEDATHU KIZHAKEMADAM, MANGARAM, PANDALAM P.O., PATHANAMTHITTA, KERALA, PIN – 689 501. 2 RESHMA V. GOPAL, AGED 25 YEARS, D/O. M.N. VENUGOPAL, MOOTHEDATHU KIZHAKEMADAM, MANGARAM, PANDALAM P.O., PATHANAMTHITTA, KERALA, PIN – 689 501. BY ADVS. V.V.NANDAGOPAL NAMBIAR PREEJA. P.VIJAYAN SMITHA (EZHUPUNNA) VANDANA BHAT T.V. PAVAN ROSE JOHNSON RESPONDENTS: 1 AUTHORISED OFFICER, HDFC BANK LIMITED, TC 25/2344, PREMIER TOWER, AYURVEDA COLLEGE JUNCTION, MG ROAD, TRIVANDRUM, KERALA, PIN – 695 001. 2 HDFC BANK LIMITED, TC 25/2344, PREMIER TOWER, AYURVEDA COLLEGE JUNCTION, MG ROAD, TRIVANDRUM, KERALA, REPRESENTED BY ITS GENERAL MANAGER, PIN – 695 001. BY ADV. M.PREMCHAND, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27919 WP(C) 12280/2025 2 JUDGMENT Petitioners availed credit facilities from the 2nd 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 (SARFAESI Act), prompting the petitioners to approach this Court by filing the above writ petition. 2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the overdue amount in installments and to obtain regularization of the loan account. 3. It is submitted on behalf of the respondent bank that the petitioners committed default in repayment and the overdue amount, as on 01-04-2025, is Rs.2,56,513/-. 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 2025:KER:27919 WP(C) 12280/2025 3 overdue amount in limited installments and regularize 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 overdue amount in 10 installments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularized. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.2,56,513/- along with any accrued interest, costs and charges from the petitioners and regularize the loan account of the petitioners in the following manner: (i) The petitioners shall pay the overdue amount of Rs.2,56,513/- together with any accrued interest, costs and charges in 10 equated monthly installments; (ii) The first installment shall be paid on or before 30-04-2025. The subsequent installments shall be paid on or before the last working day of the succeeding months; 2025:KER:27919 WP(C) 12280/2025 4 (iii) Petitioners shall continue to pay the regular EMI’s/installments along with the installments as directed above; (iv) In the event of default of any one installment, 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 ats 2025:KER:27919 WP(C) 12280/2025 5 APPENDIX OF WP(C) 12280/2025 PETITIONERS’ EXHIBITS Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE DATED 27.12.2024 ISSUED BY THE 1ST RESPONDENT BANK Exhibit P2 A TRUE COPY OF THE REPLY NOTICE DATED 06.01.2025 ISSUED BY THE PETITIONERS TO THE 1ST RESPONDENT BANK Exhibit P3 A TRUE COPY OF POSTAL ACKNOWLEDGEMENT CARDS Exhibit P4 A TRUE COPY OF SAID LETTER DATED 10.02.2025