2025:KER:25734 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. 12474 OF 2025 PETITIONER/S: 1 M/S. EAGLE PLASTICS, XII/259, NEAR MINI INDUSTRIAL ESTATE, VALLACHIRA P.O., THRISSUR REPRESENTED BY ITS PROPRIETOR RAJITHA PREMJI, PIN - 680562 2 RAJITHA PREMJI, AGED 48 YEARS W/O. PREMJI, VALLIYIL HOUSE, NEAR SUBRAMANIA TEMPLE, KURUMPILAVU, PAZHUVIL, THRISSUR, PIN - 680564 BY ADV M.M.ABDUL RAHIMAN RESPONDENT/S: 1 THE AUTHORISED OFFICER, CANARA BANK, SME KURIACHIRA BRANCH, THRISSUR, PIN - 680006 2 THE MANAGER, CANARA BANK, R&L SECTION, REGIONAL OFFICE, THRISSUR, PIN - 680007 OTHER PRESENT: SRI. M.GOPIKRISHNAN NAMBIAR, SC 2025:KER:25734 W.P.(C)No.12474 of 2025 2 THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 26.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:25734 W.P.(C)No.12474 of 2025 3 JUDGMENT The petitioners had availed several credit facilities from the respondent bank. On default being committed, proceedings have been initiated against the petitioners under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prompting the petitioners to approach this court by filing the above writ petition. 2. The learned counsel appearing for the petitioners would submit that the petitioners 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 petitioners cannot be regularised. It is submitted that as on 26.03.2025, the outstanding amount in both the loan accounts together is Rs.32,63,697/-. The bank has no objection in granting some reasonable installments to clear the liabilities provided substantial amount will be paid immediately. 2025:KER:25734 W.P.(C)No.12474 of 2025 4 4. Having heard the learned counsel for the petitioners and the learned Standing counsel appearing for the respondent bank and having regard to the facts and circumstances of the case and considering the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the outstanding amount in installments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire amount of Rs.32,63,697/- along with interest, bank charges and costs from the petitioners in the following manner: (i) The petitioners shall pay an amount of Rs.2,00,000/- on or before 05.04.2025 and the balance outstanding amount together with any accrued interest, bank charges and costs in ten (10) equated monthly instalments; (ii) The first instalment shall be paid on or before 05.05.2025 and subsequent instalments shall be paid on or before 10th day of each succeeding month; 2025:KER:25734 W.P.(C)No.12474 of 2025 5 (iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; (iv) 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 Scl/ 2025:KER:25734 W.P.(C)No.12474 of 2025 6 APPENDIX OF WP(C) 12474/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF E-AUCTION SALE NOTICE DATED 11.11.2024 ISSUED BY THE RESPONDENTS Exhibit P2 TRUE COPY OF REPRESENTATION DATED 02.12.2024 SUBMITTED BY THE PETITIONERS BEFORE THE 1ST RESPONDENT Exhibit P3 TRUE COPY OF THE NOTICE DATED 15.3.2025 ISSUED BY THE ADVOCATE COMMISSIONER