2025:KER:31718 W.P.(C)No.12473 of 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 10TH DAY OF APRIL 2025 / 20TH CHAITHRA, 1947 WP(C) NO. 12473 OF 2025 PETITIONER/S: HARIS K., AGED 35 YEARS S/O. MUHAMMED, KODAKKADAN PARAKKAL HOUSE, PALLIMUKKU, POOKOTTUR P.O., MALAPPURAM DISTRICT, PIN - 676517 BY ADV P.C.MUHAMMED NOUSHIQ RESPONDENT/S: MANJERI CO-OPERATIVE URBAN BANK LTD., COURT ROAD, MANJERI P.O., MALAPPURAM, REPRESENTED BY ITS GENERAL MANAGER, PIN - 676121 BY ADV K.VIDYASAGAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:31718 W.P.(C)No.12473 of 2025 2 JUDGMENT The petitioner had availed several credit facilities from the respondent bank. On default being committed, proceedings have been initiated against the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prompting the petitioner to approach this court by filing the above writ petition. 2. The learned counsel appearing for the petitioner would submit that the petitioner may be permitted to clear the entire liability in some installments. 3. The learned counsel appearing for the respondent Bank submits that the loan accounts of the petitioner cannot be regularised. It is submitted that as on 10.04.2025, the outstanding amount in both the loan accounts together is Rs.25,34,641/-. The bank has no objection in granting some reasonable installments to clear the liabilities provided substantial amount will be paid immediately. 4. Having heard the learned counsel for the petitioner and the learned Standing counsel appearing for the respondent bank and having regard to the facts and circumstances of the case and considering the 2025:KER:31718 W.P.(C)No.12473 of 2025 3 submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount on a condition that the petitioner pays an amount of Rs.3,00,000/- on or before 30.04.2025 and the balance outstanding amount in twelve (12) equated monthly installments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire amount of Rs.25,34,641/- along with interest, bank charges and costs from the petitioners in the following manner: (i) The petitioner shall pay an amount of Rs.3,00,000/- on or before 30.04.2025 and the balance outstanding amount together with any accrued interest, bank charges and costs in twelve (12) equated monthly instalments; (ii) The first instalment shall be paid on or before 30.05.2025 and subsequent instalments shall be paid on or before 10th day of each succeeding month; (iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance 2025:KER:31718 W.P.(C)No.12473 of 2025 4 with the law; (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 Scl/ 2025:KER:31718 W.P.(C)No.12473 of 2025 5 APPENDIX OF WP(C) 12473/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 24.02.2025 ISSUED BY THE BANK TO THE PETITIONER