2025:KER:28223 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 2ND DAY OF APRIL 2025 / 12TH CHAITHRA, 1947 WP(C) NO. 12409 OF 2025 PETITIONER/S: SHAJU KUNNUMMAL, AGED 49 YEARS S/O. CHANDU, CHIPPY THAYANAT P.O., IRINGAL, MOORAD, VATAKARA, KOZHIKKODE, PIN - 673521 BY ADVS. T.T.MUHAMOOD A.RENJIT GOKUL R.NAIR RESPONDENT/S: 1 KERALA STATE CO-OPERATIVE BANK LTD, HEAD OFFICE, THIRUVANANTHAPURAM, REPRESENTED BY ITS MANAGING DIRECTOR,HEAD OFFICE, COBANK TOWERS, P.B.NO.6515, VIKAS BHAVAN P.O, PALAYAM, THIRUVANANTHAPURAM, PIN - 695033 2 THE AUTHORIZED OFFICER, KERALA STATE CO-OPERATIVE BANK LTD, KALLAI ROAD, KOZHIKKODE, PIN - 673002 3 THE BRANCH MANAGER, KERALA STATE CO-OPERATIVE BANK LTD,PAYYOLI BRANCH,KOZHIKODE DISTRICT, PIN - 673522 2025:KER:28223 W.P.(C) No.12409 of 2025 2 OTHER PRESENT: SRI.P.C.SASIDHARAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28223 W.P.(C) No.12409 of 2025 3 JUDGMENT The petitioner had availed a home loan 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 account of the petitioner cannot be regularised. It is submitted that as on 02.04.2025, the outstanding amount in both the loan accounts together is Rs.11,08,804/-. 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 2025:KER:28223 W.P.(C) No.12409 of 2025 4 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 petitioner can be granted an opportunity to repay the outstanding amount on condition that the petitioner will pay a sum of Rs.1,00,000/- on or before 30.04.2025 and the balance outstanding amount in twelve installments. 5. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.11,08,804/- along with interest, bank charges and costs from the petitioner in the following manner: (i) The petitioner shall pay an amount of Rs.1,00,000/- 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 last day of each succeeding month; 2025:KER:28223 W.P.(C) No.12409 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 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:28223 W.P.(C) No.12409 of 2025 6 APPENDIX OF WP(C) 12409/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF NOTICE NO. R.O.6R.CELL/SARAFAESI/20/PYL/CLD21197/20 21-22 DATED 25.04.2022 ISSUED BY THE 2ND RESPONDENT