2025:KER:30611 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. MONDAY, THE 7TH DAY OF APRIL 2025 / 17TH CHAITHRA, 1947 WP(C) NO. 12505 OF 2025 PETITIONER: ARAVINDAKSHAN V.K., AGED 51 YEARS, S/O. KRISHNAN, VATTAM KALATHIL HOUSE, PAKARANELLUR, PAZHUR P.O., NADUVATTOM, MALAPPURAM, PIN – 679 571. BY ADVS. MUHAMMED YASIL M.A.AHAMMAD SAHEER E.A.HARIS AAGI JOHNY RESPONDENTS: AUTHORISED OFFICER, KERALA STATE CO-OPERATIVE BANK LTD., FORMERLY KNOWN AS MALAPPURAM DISTRICT CO-OPERATIVE BANK RECOVERY DEPARTMENT, P.B. NO.8, MANJERI ROAD, MALAPPURAM, PIN – 676 505. BY ADV GILBERT GEORGE CORREYA (SC) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:30611 WP(C) 12505/2025 2 JUDGMENT Petitioner availed a 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 (SARFAESI Act), prompting the petitioner to approach this Court by filing the above writ petition. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in installments and to obtain regularization of the loan account. 3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount, as on 28-02-2025, is Rs.2,21,726/-. 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 installments and regularize the loan account. 2025:KER:30611 WP(C) 12505/2025 3 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 overdue amount in 12 installments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularized. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.2,21,726/- along any with accrued interest, costs and charges from the petitioner and regularize the loan account of the petitioner in the following manner: (i) The petitioner shall pay the overdue amount of Rs.2,21,726/- in 12 equated monthly installments along with any accrued interest, costs and charges; (ii) The first installment shall be paid on or before 30-04-2025. The subsequent installments shall be paid on or before the last working day of the succeeding months; 2025:KER:30611 WP(C) 12505/2025 4 (iii) Petitioner shall continue to pay the regular EMI’s/installments along with the installments as directed above; (iv) In the event of default of any one installment, 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 ats 2025:KER:30611 WP(C) 12505/2025 5 APPENDIX OF WP(C) 12505/2025 PETITIONER’S EXHIBITS Exhibit-P1 A TRUE COPY OF THE POSSESSION NOTICE DATED 12.03.2025 ISSUED BY THE RESPONDENT