WP(C) NO. 12797 OF 2025 1 2025:KER:26450 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 27TH DAY OF MARCH 2025 / 6TH CHAITHRA, 1947 WP(C) NO. 12797 OF 2025 PETITIONER: JAYANTHI P. KUMAR, AGED 57 YEARS DAUGHTER OF VASANTHA BALAN, RESIDING AT TULIP PINK APARTMENT, H.NO. 43/433, NETTAYKODATH CROSS ROAD, PALARIVATTOM P.O., KOCHI, PIN - 682025 BY ADVS. PEEYUS A.KOTTAM EMIL HANNA THOMAS RESPONDENTS: 1 THE AUTHORISED OFFICER, KERALA STATE CO-OPERATIVE BANK LTD., KOLENCHERY, MCP BUILDING, KOLENCHERY, PIN - 682311 2 KERALA STATE CO-OPERATIVE BANK LTD., MARKET ROAD BRANCH, BUILDING NO. 41/4263, GROUND FLOOR, MARKET ROAD, ERNAKULAM NORTH P.O, KOCHI, REP. BY ITS MANAGER., PIN - 682018 SMT. K.AMMINIKUTTY, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 12797 OF 2025 2 2025:KER:26450 JUDGMENT The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent financial 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 account. 3. It is submitted on behalf of the respondent Bank that the petitioner committed default in repayment of credit facilities and the overdue amount as on 28.02.2025 is Rs.1,14,356/-(Rupees One lakh fourteen thousand three hundred and fifty six only). 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 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 along with any accrued interest, costs and charges in 12 instalments and WP(C) NO. 12797 OF 2025 3 2025:KER:26450 thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. 5. Accordingly, there will be a direction to the respondent financial institution to accept repayment of the entire overdue amount of Rs.1,14,356/-(Rupees One lakh fourteen thousand three hundred and fifty six only) along with any accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner in the following manner: i. The petitioner shall pay the overdue amount of Rs.1,14,356/- (Rupees One lakh fourteen thousand three hundred and fifty six only) along with any accrued interest, costs and charges in 12 equated monthly instalments; ii. The first instalment shall be paid on or before 05.04.2025 and the subsequent instalments shall be paid on or before the 5th 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; WP(C) NO. 12797 OF 2025 4 2025:KER:26450 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 lsn WP(C) NO. 12797 OF 2025 5 2025:KER:26450 APPENDIX OF WP(C) 12797/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT TO THE PETITIONER DATED 07.11.2024 Exhibit P2 THE TRUE COPY OF THE PAYING SLIP ISSUED BY THE 2ND RESPONDENT BANK TOWARDS PAYMENT OF RS.30,000/- DATED 31.01.2025 Exhibit P3 THE TRUE COPY OF THE 13(2) NOTICE ISSUED UNDER SARFAESI ACT BY THE 1ST RESPONDENT TO THE PETITIONER DATED 03.01.2025