2025:KER:28248 W.P (C) No.13155/2025 -1- 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. 13155 OF 2025 PETITIONER/S: 1 PURUSHOTHAMAN A.P. AGED 47 YEARS, S/O. GOVINDAN, PALLATHMOOLA HOUSE, ADOOR VILLAGE, URDUR P.O. KASARAGODE, PIN - 671543 2 YAMUNA V AGED 40 YEARS, W/O. PURUSHOTHAMAN, PALLATHMOOLA HOUSE, ADOOR VILLAGE, URDUR P.O. KASARAGODE, PIN - 670543 BY ADVS. SHILPA K. SREERAJA V. RESPONDENT/S: 1 KERALA STATE CO-OPERATIVE BANK KANNUR REGIONAL OFFICE, KANNUR REPRESENTED BY IT’S AUTHORIZED OFFICER, PIN - 670001 2 KERALA STATE CO-OPERATIVE BANK LTD MULLERIA BRANCH, MULLERIA PO, KASARGODE REPRESENTED BY IT’S MANAGER, PIN - 670543 BY ADV M.SASINDRAN. THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28248 W.P (C) No.13155/2025 -2- J U D G M E N T Petitioners have 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 three loans availed by the petitioners. 2. During the course of hearing, petitioners have 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 petitioners committed default in repayment and the total overdue amount as on 02-04- 2025 is Rs.10,02,566/-. 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 total overdue amount in limited instalments and regularise the loan accounts. 4. Having heard the learned counsel for the petitioners 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 petitioners have undertaken to clear off the total overdue amount along with regular EMIs/instalments, I am of the view that the petitioners can be granted an opportunity to clear off the 2025:KER:28248 W.P (C) No.13155/2025 -3- total overdue amount in fifteen (15) 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 account regularised. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.10,02,566/- along with interest, bank charges and costs from the petitioners and regularise the loan accounts of the petitioners in the following manner: (i) The overdue amount of Rs.10,02,566/- (total in all the 3 loans) together with any accrued interest, bank charges and costs shall be repaid in fifteen 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 last working day of each succeeding month; (iii) Petitioners 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:28248 W.P (C) No.13155/2025 -4- (v) In order to enable the petitioners 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:28248 W.P (C) No.13155/2025 -5- APPENDIX OF WP(C) 13155/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE FOR TOTAL OUTSTANDING AMOUNT OF RS. 27,92,806/- ISSUED BY THE 1ST RESPONDENT TO THE PETITIONERS DATED 03.09.2024 Exhibit P2 A TRUE COPY OF NOTICE ISSUED BY THE 2ND RESPONDENT BANK TO THE 2ND PETITIONER WITH RESPECT TO LOAN ACCOUNT NO. 180660517200112 DATED 01-11-2024 Exhibit P3 A TRUE COPY OF NOTICE ISSUED BY THE 2ND RESPONDENT BANK TO THE 2ND PETITIONER WITH RESPECT TO LOAN ACCOUNT NO. 180660454000702 DATED 01-11-2024 Exhibit P4 A TRUE COPY OF THE NOTICE DATED 23-01-2025 Exhibit P5 A TRUE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT BANK TO THE PETITIONERS DATED 21.11.2024 Exhibit P6 A TRUE COPY OF HIS MEDICAL CERTIFICATES OF THE 1ST PETITIONER DATED 04.03.2025