2025:KER:30441 WP(C) NO. 12425 OF 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 8TH DAY OF APRIL 2025 / 18TH CHAITHRA, 1947 WP(C) NO. 12425 OF 2025 PETITIONER/S: SAM JOSE, AGED 65 YEARS S/O VARGHESE SAMUEL, RESIDING AT THOZHUVATHINKAL HOUSE, NEDUMBRAM P O, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689110 BY ADV S.JAYAKRISHNAN RESPONDENT/S: 1 STATE BANK OF INDIA, RASMEC, PANDIYALIL, CVM ARCADE, MAZHYUVANGADU, M.C. ROAD, THIRUVALLA, PATHANAMTHITTA DISTRICT, REPRESENTED BY ITS CHIEF MANAGER/AUTHORIZED OFFICER, PIN - 689101 2 THE BRANCH MANAGER, STATE BANK OF INDIA, THIRUMOOLAPURAM BRANCH, P.B. NO. 651, BALIKAMATOM CAMPUS, THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN - 689115 SRI. ARUN THOMAS, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:30441 WP(C) NO. 12425 OF 2025 2 JUDGMENT Petitioner has approached this Court challenging proceedings initiated by the respondent Bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due from the petitioner. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the liability in instalments. 3. Learned Standing Counsel appearing for the respondent bank submits that the petitioner availed a vehicle loan from the respondent bank and committed default in repayment. It is also submitted that regularization is not possible. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept the repayment of the outstanding amount in limited instalments. According to the learned Standing Counsel appearing for the respondent, as on 27.03.2025, the balance amount which is liable to be repaid is Rs.3,74,369/.- (Rupees Three lakh seventy four thousand three hundred and sixty 2025:KER:30441 WP(C) NO. 12425 OF 2025 3 nine only). 4. 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 of Rs.3,74,369/.- (Rupees Three lakh seventy four thousand three hundred and sixty nine only) along with accrued interest, cost and charges in ten instalments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.3,74,369/.- (Rupees Three lakh seventy four thousand three hundred and sixty nine only) along with any accrued interest, cost and bank charges from the petitioner in the following manner: (i) The petitioner shall pay the outstanding amount of Rs.3,74,369/.- (Rupees Three lakh seventy four thousand three hundred and sixty nine only) in ten equated monthly instalments along with any accrued interest, charges and costs; (ii) The first instalment shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on or before the last working day of the 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; 2025:KER:30441 WP(C) NO. 12425 OF 2025 4 (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 ajt 2025:KER:30441 WP(C) NO. 12425 OF 2025 5 APPENDIX OF WP(C) 12425/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF NOTICE DATED 11.09.2024 ISSUED BY THE 1ST RESPONDENT UNDER SECTION 13(2) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST (SARFAESI) ACT, 2002 Exhibit P2 A TRUE COPY OF LOAN DISCHARGE QUOTE PERTAINING TO ACCOUNT NO. 40090603242 Exhibit P3 A TRUE COPY OF LOAN DISCHARGE QUOTE PERTAINING TO ACCOUNT NO. 67350690950 Exhibit P4 A TRUE COPY OF THE REPRESENTATION DATED 13/03/2025 SUBMITTED BY THE PETITIONER BEFORE THE 1ST RESPONDENT