2025:KER:29222 WP(C) NO. 13117 OF 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. 13117 OF 2025 AGAINST THE ORDER/JUDGMENT DATED IN MC NO.670 OF 2024 OF CHIEF JUDICIAL MAGISTRATE ,KOTTAYAM PETITIONER/S: 1 RAVI.K.K, AGED 70 YEARS S/O KUTTY, POOVAKUNNEL HOUSE, VETTIMUKAL P.O, KOTTAYAM, PIN - 686631 2 AJISH R RAVI, AGED 44 YEARS S/O RAVI.K.K, POOVAKUNNEL HOUSE, VETTIMUKAL P.O, KOTTAYAM, PIN - 686631 BY ADVS. RAMEES P.K. ADITHYA VARMA S. RESPONDENT/S: 1 KERALA STATE CO-OPERATIVE BANK LTD., ETTUMANOOR MAIN BRANCH, REPRESENTED BY IT’S MANAGER, ETTUMANOOR, KOTTAYAM, PIN - 686631 2 THE AUTHORISED OFFICER, KERALA STATE CO-OPERATIVE BANK LTD., KOTTAYAM REGIONAL OFFICE, CENTRAL JUNCTION, KOTTAYAM, PIN – 686001 2025:KER:29222 WP(C) NO. 13117 OF 2025 2 3 KERALA STATE CO-OPERATIVE BANK LTD., RERESENTED BY ITS AUTHORISED OFFICER, COBANK TOWERS, VIKAS BHAVAN P.O, THIRUVANANTHAPURAM, PIN - 695033 4 DEPUTY TAHSILDAR, KOTTAYAM TALUK, MINI CIVIL STATION, KOTTAYAM, KOTTAYAM DISTRICT, PIN - 686001 BY ADV ATHUL SHAJI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:29222 WP(C) NO. 13117 OF 2025 3 JUDGMENT Petitioners have approached this Court challenging proceedings initiated by the respondent Bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due from the petitioners. 2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the liability in instalments. 3. Learned Standing Counsel appearing for the respondent bank submits that the petitioners availed credit facilities from the respondent bank and committed default in repayment. It is also submitted that regularisation is not possible. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept the repayment of the outstanding amount in limited instalments. According to the learned Standing Counsel appearing for the respondent, as on 04.04.2025, the balance amount which is liable to be repaid is Rs.33,03,535/- (Rupees Thirty three lakh three thousand five hundred and thirty five only). 2025:KER:29222 WP(C) NO. 13117 OF 2025 4 4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the outstanding amount of Rs.33,03,535/- (Rupees Thirty three lakh three thousand five hundred and thirty five only) along with accrued interest, cost and charges in fifteen instalments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.33,03,535/- (Rupees Thirty three lakh three thousand five hundred and thirty five only) along with any accrued interest, cost and bank charges from the petitioners in the following manner: (i) The petitioners shall pay the outstanding amount of Rs.33,03,535/- (Rupees Thirty three lakh three thousand five hundred and thirty five only) in fifteen equated monthly instalments along with any accrued interest, charges and costs; (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 the succeeding months; (iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; 2025:KER:29222 WP(C) NO. 13117 OF 2025 5 (iv) 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 ajt 2025:KER:29222 WP(C) NO. 13117 OF 2025 6 APPENDIX OF WP(C) 13117/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE INTERIM ORDER DATED 19/12/2024 IN W.P.(C) NO. 45497/2024 Exhibit P2 . A TRUE COPY OF THE JUDGEMENT DATED 11/02/2025 IN W.P.(C) NO. 45497/2024 Exhibit P3 A TRUE COPY OF THE LETTER ISSUED BY THE 1ST RESPONDENT BANKTO THE 1ST PETITIONER (LOAN ACC. NO. 129560357000013) DATED 17/02/2025 COMMUNICATING ONE TIME SETTLEMENT SCHEME Exhibit P4 A TRUE COPY OF THE LETTER ISSUED BY THE 1ST RESPONDENT BANKTO THE 2ND PETITIONER (LOAN ACC. NO. 129560357000314) DATED 17/02/2025 COMMUNICATING ONE TIME SETTLEMENT SCHEME Exhibit P5 A TRUE COPY OF THE REPRESENTATION DATED 28/02/2025 SUBMITTED BY THE 2ND PETITIONER TO THE 1ST RESPONDENT Exhibit P6 A TRUE COPY OF THE ECOURTS STATUS OF THE PROCEEDINGS DATED 01/03/2025 IN MC 670/2024 OF THE CHIEF JUDICIAL MAGISTRATE, KOTTAYAM Exhibit P7 THE TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE 4TH RESPONDENT DATED 04/03/2025 TO THE PETITIONERS