2025:KER:30228 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 8TH DAY OF APRIL 2025 / 18TH CHAITHRA, 1947 WP(C) NO. 13113 OF 2025 PETITIONER: JAGANATHAN P, AGED 65 YEARS, S/O VELAYUDHAN, ROHINI NIVAS, EVOOR NORTH MURI, CHEPPAD VILLAGE, KARTHIKAPPALLY TALUK, ALAPPUZHA DISTRICT, PIN – 690507. BY ADVS. S.K.SAJI MAYAMOL T.S. G.R.MANJU RESPONDENTS: 1 THE AUTHORIZED OFFICER, THE BANK OF BARODA, KARUNAGAPPALLY BRANCH, BHAVANI TRADE CENTRE KARUNAGAPPALLY TALUK KOLLAM DISTRICT, PIN – 690518. 2 THE BANK OF BARODA, KARUNAGAPPALLY BRANCH, BHAVANI TRADE CENTRE, KARUNAGAPPALLY TALUK KOLLAM DISTRICT, REPRESENTED BY ITS MANAGER, PIN – 690518. BY SRI.K.ANAND, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 13113 OF 2025 2 2025:KER:30228 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 account. 3. It is submitted on behalf of the respondent Bank that the petitioner committed default in repayment of a term loan and the total overdue amount is Rs.8,89,956/-(Rupees eight lakhs eighty nine thousand nine 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 total overdue amount on condition that Rs.2,00,000/- (Rupees two lakhs only) WP(C) NO. 13113 OF 2025 3 2025:KER:30228 shall be paid on or before 30.04.2025 and the balance amount along with any accrued interest, costs and charges shall be paid in eight equal monthly instalments, the first of which shall be paid on or before 30.05.2025 and the subsequent instalments shall be paid on or before 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 account regularised. 5. Accordingly, there will be a direction to the respondent Bank to accept repayment of the entire overdue amount of Rs.8,89,956/-(Rupees eight lakhs eighty nine thousand nine 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 a sum of Rs.2,00,000/- (Rupees two lakhs only) on or before 30.04.2025. The balance overdue amount along with any accrued interest, costs and charges shall be paid in eight equal monthly instalments; ii. The first instalment shall be paid on or before 30.05.2025 and the subsequent instalments shall be paid on or before the last working day of every 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; WP(C) NO. 13113 OF 2025 4 2025:KER:30228 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 DK WP(C) NO. 13113 OF 2025 5 2025:KER:30228 APPENDIX OF WP(C) 13113/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE OF SALE OF LANDED PROPERTY TO THE PETITIONER BY THE FIRST RESPONDENT DATED 19.02.2025 Exhibit P2 TRUE COPY OF THE ORDER OF THE CHIEF JUDICIAL MAGISTRATE, ALAPPUZHA IN C.M.P.NO. 2873/2024 IN MC. 392/2024 DATED 06.07.2024