2025:KER:27287 W.P (C) No.12357/2025 -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. 12357 OF 2025 PETITIONER/S: MUHAMMED SAFEER M, AGED 43 YEARS S/O HUSSAIN, MUTTUMMAL HOUSE, KARADI, THAMARASSERY P.O, KOZHIKODE, PIN - 673573 BY ADVS. T.D.SUSMITH KUMAR T.O.DEEPA JAYKAR.K.S. C.SIVADAS VANDANA A. ANJALI R. MENON ALMY ANIL RESPONDENT/S: THE KERALA STATE CO-OPERATIVE BANK LIMITED, THAMARASSERY BRANCH,THAMARASSERY P.O, KOZHIKODE,REPRESENTED BY THE BRANCH MANAGER, PIN - 673573 OTHER PRESENT: SRI. P.C.SASIDHARAN, 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:27287 W.P (C) No.12357/2025 -2- J U D G M E N T Petitioner has approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due upon a Mortgage loan availed by 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 bank that the petitioner committed default in repayment and the overdue amount as on 28-03-2025 is Rs.25,58,391/-. It is submitted that the petitioner may be required to make some substantial payment on or before 15-04-2025. 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 overdue amount in limited instalments and regularise the loan account. 4. Having regard to the facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs/instalments, I am of the view that the petitioner can be granted an opportunity to clear off the overdue amount on a condition that he will pay 2025:KER:27287 W.P (C) No.12357/2025 -3- a sum of Rs.3,00,000/- on or before 15-04-2025 and the balance overdue amount in ten (10) equal monthly instalments first of which shall be paid on or before 15-05-2025 and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. 5. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.25,58,391/- along with interest, bank charges and costs from the petitioner and regularise the loan account of the petitioner in the following manner:- (i) The petitioner shall pay an amount of Rs.3,00,000/- on or before 15-04-2025 and balance overdue amount of Rs.22,58,391/- together with any accrued interest, bank charges and costs shall be repaid in ten equated monthly instalments; (ii) The first instalment shall be paid on or before 15-05-2025 and the subsequent instalments shall be paid on or before 15th working day of each succeeding month; (iii) Petitioner 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; 2025:KER:27287 W.P (C) No.12357/2025 -4- (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 AMG 2025:KER:27287 W.P (C) No.12357/2025 -5- APPENDIX OF WP(C) 12357/2025 PETITIONER EXHIBITS Exhibit P-1 A TRUE COPY OF DEMAND NOTICE DATED 17/02/2025 ISSUED BY THE RESPONDENT Exhibit P-2 A TRUE COPY OF THE CASH DEPOSIT SLIP DATED 31/03/2023 ISSUED BY THE RESPONDENT