2025:KER:29227 WP(C) NO. 13188 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. 13188 OF 2025 PETITIONER/S: BALASUBRAMANNIAN P.P., AGED 43 YEARS S/O. KUNHADI, PUNNAPURATH HOUSE, SHANTINAGAR, EDAYOOR P.O., VADAKKUMPURAM, MALAPPURAM DISTRICT, PIN - 676552 BY ADV ISTINAF ABDULLAH RESPONDENT/S: 1 THE KERALA STATE CO-OPERATIVE BANK LTD., (ERSTWHILE MDC BANK),REPRESENTED BY ITS MANAGER, P.B.NO. 8, MANJERI ROAD, UP-HILL, MALAPPURAM DISTRICT, PIN - 676505 2 THE BRANCH MANAGER, THE KERALA STATE CO-OPERATIVE BANK LTD. (ERSTWHILE MDC BANK), KARATHUR BRANCH, CODACAL P.O., MALAPPURAM DISTRICT, PIN - 676108 3 THE AUTHORIZED OFFICER, THE KERALA STATE CO-OPERATIVE BANK LTD. (ERSTWHILE MDC BANK), P.B.NO. 8, MANJERI ROAD, UP-HILL, MALAPPURAM DISTRICT, PIN - 676505 BY ADV GILBERT GEORGE CORREYA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:29227 WP(C) NO. 13188 OF 2025 2 JUDGMENT Petitioner has 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 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 availed a housing loan from the respondent bank and committed default in repayment and the overdue amount, as on 29.03.2025, would come to Rs.4,73,876/- (Rupees Four lakh seventy three thousand eight hundred and seventy 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. 2025:KER:29227 WP(C) NO. 13188 OF 2025 3 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 of Rs.4,73,876/- (Rupees Four lakh seventy three thousand eight hundred and seventy six only) along with any accrued interest, cost and charges in twelve instalments 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.4,73,876/- (Rupees Four lakh seventy three thousand eight hundred and seventy six only) along with accrued interest, cost and bank 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.4,73,876/- (Rupees Four lakh seventy three thousand eight hundred and seventy six only) along with any accrued interest, cost and charges in twelve 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 months; 2025:KER:29227 WP(C) NO. 13188 OF 2025 4 (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; (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 ajt 2025:KER:29227 WP(C) NO. 13188 OF 2025 5 APPENDIX OF WP(C) 13188/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE PASSBOOK ISSUED BY THE 2ND RESPONDENT DATED 15.03.2017 Exhibit P2 THE TRUE COPY OF THE BASIC TAX RECEIPT ISSUED BY THE MELMURY VILLAGE OFFICE DATED 21.07.2020 Exhibit P3 THE TRUE COPY OF THE POSSESSION NOTICE ISSUED BY THE 3RD RESPONDENT DATED 04.02.2025 Exhibit P4 THE TRUE COPY OF THE OUT PATIENT REGISTRATION CARD ISSUED BY THE GOVT. MEDICAL COLLEGE HOSPITAL, THRISSUR DATED 22.03.2025