2025:KER:26526 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 26TH DAY OF MARCH 2025 / 5TH CHAITHRA, 1947 WP(C) NO. 12527 OF 2025 PETITIONER: JAISON JOSEPH, AGED 55 YEARS, S/O. JOSEPH, ACHANGADAN HOUSE, IRINGALAKUDA, THRISSUR DISTRICT, PIN – 680121. BY ADV K.S.SUMEESH RESPONDENT: IRINGALAKUDA SERVICE CO-OPERATIVE BANK LTD.,* NO:55, HEAD OFFICE, TANA SOUTH, IRINGALAKUDA, REP. BY ITS AUTHORISED OFFICER, PIN – 680121. *THE NAME OF THE RESPONDENT BANK IS SUO MOTU CORRECTED AS “IRINGALAKUDA TOWN CO-OPERATIVE BANK” AS PER ORDER DATED 26.03.2025 IN WP(C)12527/2025. BY ADVS. DEVAPRASANTH P.J, SC SMINI JOSE(K/262/2015) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 12527 OF 2025 2 2025:KER:26526 JUDGMENT The petitioner availed a long term loan from the respondent Bank. On default being committed proceedings have been initiated against the petitioner under the provisions of the SARFAESI Act prompting the petitioner to approach this Court by filing the above writ petition. 2. The learned counsel for the petitioner submits that the petitioner may be permitted to pay off the liability in some instalments. 3. The learned counsel appearing for the respondent Bank submits that though the tenure of the loan is till March 2026, the petitioner may be required to pay off the entire amount in instalments as there is not much of a difference between the overdue amount and the outstanding amount. It is submitted that the overdue amount as on today (26.03.2025) is Rs.6,98,584/- while the outstanding amount is Rs.7,38,584/-. 4. The learned counsel appearing for the petitioner submits that the petitioner may be permitted to pay off the outstanding amount in some instalments. WP(C) NO. 12527 OF 2025 3 2025:KER:26526 5. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount along with any accrued interest, costs and charges in 12 instalments. 6. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.7,38,584/- (Rupees seven lakhs thirty eight thousand five hundred and eighty four only) along with any accrued interest, costs and charges from the petitioner in the following manner:- (i) The petitioner shall pay the outstanding amount of Rs.7,38,584/- (Rupees seven lakhs thirty eight thousand five hundred and eighty four only) along with any accrued interest, costs and charges in 12 equated monthly instalments; (ii) The first instalment shall be paid on or before 10.04.2025 and the subsequent instalments shall be paid on or before the 10th day of every succeeding months; (iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; WP(C) NO. 12527 OF 2025 4 2025:KER:26526 (iv) 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 DK WP(C) NO. 12527 OF 2025 5 2025:KER:26526 APPENDIX OF WP(C) 12527/2025 PETITIONER EXHIBITS Exhibit-P1 THE TRUE COPY OF THE IDENTITY CARD ISSUED BY THE GOVT: OF KERALA SOCIAL WELFARE DEPARTMENT DATED 08.11.2011 Exhibit-P2 TRUE COPY OF THE PAYMENT RECEIPT DATED 27.02.2025 Exhibit-P3 TRUE COPY OF THE ORDER IN CRL.M.P.NO:315/2025 DATED 8.01.2025 OF THE CHIEF JUDICIAL MAGISTRATE COURT THRISSUR Exhibit-P4 THE TRUE COPY OF THE NOTICE DATED 4.02.2025 ISSUED BY THE ADVOCATE COMMISSIONER