2025:KER:27294 W.P (C) No.12385/2025 -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. 12385 OF 2025 PETITIONER/S: 1 VARGHESE JOSEPH, AGED 62 YEARS S/O JOSEPH, KARAVATTETHU HOUSE, MALAYALAPPUZHA THAZHAM P.O, KONNI, PATHANAMTHITTA, PIN - 689664 2 MARIAMMA VARGHESE AGED 58 YEARS W/O VARGHESE, KARAVATTETHU HOUSE, MALAYALAPPUZHA THAZHAM P.O, KONNI, PATHANAMTHITTA, PIN - 689664 BY ADV AJEESH K.SASI RESPONDENT/S: 1 THE CANARA BANK, KONNI BRANCH , FIRST FLOOR, KARTHIKA BUILDING, MAIN ROAD, KONNI, PATHANAMTHITTA DISTRICT, REPRESENTED BY ITS MANAGER, PIN - 686691 2 THE AUTHORISED OFFICER, CANARA BANK,REGIONAL OFFICE, THIRUMULLAVARAM,KOLLAM, PIN - 691003 OTHER PRESENT: SRI. M.GOPIKRISHNAN NAMBIAR, 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:27294 W.P (C) No.12385/2025 -2- J U D G M E N T Petitioners have 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 Housing loan availed by the petitioners. 2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account. 3. The learned counsel for the respondent bank submits that there were no bidders for the sale of the property of the petitioners which isscheduled to be held on today (28-03-2025). It is submitted that in such circumstances the petitioners may be permitted to clear the overdue amount in some instalments. It is submitted that the overdue amount as on 28-03-2025 is Rs.4,76,000/-. 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 heard the learned counsel for the petitioners and the learned Standing Counsel for the respondent Bank and having regard to the facts and circumstances of the case and the submissions made as recorded above and 2025:KER:27294 W.P (C) No.12385/2025 -3- also taking into account the fact that the petitioners have undertaken to clear off the overdue amount along with regular EMIs/ instalments, I am of the view that the petitioners can be granted an opportunity to clear off the overdue amount in ten (10) equal monthly instalments first of which shall be paid on or before 15-04-2025 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 bank to accept repayment of the entire overdue amount of Rs.4,76,000/- along with interest, bank charges and costs from the petitioners and regularise the loan account of the petitioners in the following manner: (i) The overdue amount of Rs.4,76,000/- 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 15-04-2025 and the subsequent instalments shall be paid on or before 15th working day of each succeeding month; (iii) Petitioners shall continue to pay the regular EMI’s / instalments along with the instalments directed above; 2025:KER:27294 W.P (C) No.12385/2025 -4- (iv) In the event of default of any one instalment, 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 AMG 2025:KER:27294 W.P (C) No.12385/2025 -5- APPENDIX OF WP(C) 12385/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE SALE NOTICE DATED 06.03.2025 ISSUED BY THE RESPONDENT BANK.