WP(C) NO. 12526 OF 2025 1 2025:KER:29557 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 3RD DAY OF APRIL 2025 / 13TH CHAITHRA, 1947 WP(C) NO. 12526 OF 2025 PETITIONER: BIJU JOSEPH, AGED 51 YEARS PANAKKAL HOUSE, THURUTHOOR, PUTHENVELIKKARA P.O.,, PIN - 683594 BY ADVS. M.SHAJU PURUSHOTHAMAN K.S.RAJESH M.K.FAISAL SINDHU K.S. RESPONDENTS: 1 THE KERALA STATE CO-OPERATIVE BANK LTD., PUTHENVELIKKARA BRANCH, REPRESENTED BY ITS BRANCH MANAGER, PUTHENVELIKKARA P.O., ERNAKULAM DIST., PIN - 683594 2 THE AUTHORISED OFFICER, THE KERALA STATE CO-OPERATIVE BANK LTD., NORTH PARAVUR MAIN BRANCH, MAIN ROAD, NORTH PARAVUR P.O., ERNAKULAM DIST., PIN - 683513 BY ADV K.AMMINIKUTTY THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 12526 OF 2025 2 2025:KER:29557 JUDGMENT The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent bank 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 overdue amount in instalments and to obtain regularisation of the loan accounts. 3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment of three loans and the total overdue amount as on 26.03.2025 is Rs.5,24,791/-. 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 accounts. 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 total overdue in 12 equal monthly instalments, the first of which shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on the last working day of every succeeding months and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan accounts regularised. 5. Accordingly, there will be a direction to the respondent bank to WP(C) NO. 12526 OF 2025 3 2025:KER:29557 accept repayment of the entire overdue amount of Rs.5,24,791/- along with any accrued interest, costs and charges from the petitioner and regularise the loan accounts of the petitioner in the following manner: i. The petitioner shall pay the overdue amount along with any accrued interest, costs and charges in 12 equal monthly instalments; 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 every succeeding months; iii. Petitioner shall continue to pay the regular EMI’s/instalments along with the instalments directed above; 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 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 Nsd WP(C) NO. 12526 OF 2025 4 2025:KER:29557 APPENDIX OF WP(C) 12526/2025 PETITIONER EXHIBITS Exhibit P 1 THE TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER DT.21.3.2025