2025:KER:29298 W.P (C) No.12692/2025 -1- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 4TH DAY OF APRIL 2025 / 14TH CHAITHRA, 1947 WP(C) NO. 12692 OF 2025 PETITIONER/S: BABU P.R, S/O M K RAGHAVAN, AGED 59 YEARS GURURAKSHITHA (H), MARIATHURUTH (P.O), CHENGALAM SOUTH, KOTTAYAM, PIN - 686017 BY ADV AJITH M. JIJI RESPONDENT/S: KERALA STATE CO-OPERATIVE BANK, REPRESENTED BY THE AUTHORIZED OFFICER, KOTTAYAM REGIONAL OFFICE, P.B NO.140 CENTRAL JUNCTION , KOTTAYAM, PIN - 686001 BY ADV ATHUL SHAJI, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:29298 W.P (C) No.12692/2025 -2- J U D G M E N T Petitioner has approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due upon a Housing loan and a Term loan availed by the petitioner. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the total 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 and the total overdue amount as on 04-04- 2025 is Rs.3,36,758/- (after giving credit to the amount already paid by the petitioner pursuant to the interim order dated 27-03-2025). 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 account. 4. Having heard the learned counsel for the petitioner and the learned Standing Counsel for the respondent Bank and having regard to the facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the total overdue amount along with regular EMIs/instalments, I am of the view that the petitioner can be granted an opportunity to clear off the total 2025:KER:29298 W.P (C) No.12692/2025 -3- overdue amount in six (6) equal monthly instalments first of which shall be paid on or before 30-04-2025 and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan accounts regularised. 5. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.3,36,758/- along with interest, bank charges and costs from the petitioner and regularise the loan accounts of the petitioner in the following manner: (i) The total overdue amount of Rs.3,36,758/- together with any accrued interest, bank charges and costs shall be repaid in six equated 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 each succeeding month; (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; 2025:KER:29298 W.P (C) No.12692/2025 -4- (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 AMG 2025:KER:29298 W.P (C) No.12692/2025 -5- APPENDIX OF WP(C) 12692/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE ORDER OF THIS HON’BLE COURT DATED 29.02.2024 IN WP(C) NO. 8194 OF 2024 Exhibit P2 A TRUE COPY OF THE NOTICE DATED 06.02.2025, ISSUED BY THE ADVOCATE COMMISSIONER