2025:KER:30539 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. MONDAY, THE 7TH DAY OF APRIL 2025 / 17TH CHAITHRA, 1947 WP(C) NO. 13106 OF 2025 PETITIONER CHENNAM KULANGARA SULAIMAN, AGED 50 YEARS, S/O ABDULLA HAJI, RSY NO. 348/11, KUTTIPARA – CHARANKAVU ROAD, THRIKKALA, NGOD, PANCHAYATELANKUR VILLAGE, MALAPPURAM DISTRICT, PIN – 676 122. BY ADVS. GODWIN JOSEPH ARUN BABU B. RESPONDENTS: 1 ICICI BANK LTD, REPRESENTED BY ITS AUTHORISED OFFICER, ICICI BANK TOWER, BANDRA KURLA COMPLEX, MUMBAI, PIN – 400 051. 2 THE BRANCH MANAGER, ICICI BANK LTD., 4/10. MYTHREE TOWER, BOMMANAHALLI, HOSUR MAIN ROAD, BANGALORE, PIN – 560 068. BY ADVS. B.J.JOHN PRAKASH SOORAJ M.S. VARSHA VIJAYAKUMAR NAIR P.PRAMEL MANU BABY RAJASREE K. P.SATHISAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:30539 WP(C) 13106/2025 2 JUDGMENT Petitioner along with his wife availed a housing loan from the 1st respondent bank. On default being committed proceedings have been initiated against the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), prompting the petitioner to approach this Court by filing the above writ petition. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in installments and to obtain regularization of the loan account. 3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount, as on 07-04-2025, is Rs.1,10,000/-. 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 2025:KER:30539 WP(C) 13106/2025 3 overdue amount in limited installments and regularize 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 in two (02) installments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularized. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.1,10,000/- along any with accrued interest, costs and charges from the petitioner and regularize the loan account of the petitioner in the following manner: (i) The petitioner shall pay the overdue amount of Rs.1,10,000/- in two (02) equated monthly installments along with any accrued interest, costs and charges; 2025:KER:30539 WP(C) 13106/2025 4 (ii) The first installment shall be paid on or before 30-04-2025. The second installments shall be paid on or before 31-05-2025; (iii) Petitioner shall continue to pay the regular EMI’s/installments along with the installments as directed above; (iv) In the event of default of any one installment, 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 ats 2025:KER:30539 WP(C) 13106/2025 5 APPENDIX OF WP(C) 13106/2025 PETITIONER’S EXHIBITS Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE DATED 07.12.2022 ISSUED BY THE 1ST RESPONDENT BANK. Exhibit P2 A TRUE COPY OF THE JUDGMENT DATED 02.06.2023 IN W.P.(C) NO. 6436/2023 OF THIS HON’BLE COURT. Exhibit P3 A TRUE COPY OF THE JUDGMENT DATED 03.10.2023 IN W.P.(C) NO. 31013/2023 OF THIS HON’BLE COURT. Exhibit P4 A TRUE COPY OF THE SALE AGREEMENT DATED 09.01.2025 ENTERED INTO BY THE PETITIONER. Exhibit P5 A TRUE COPY OF THE NOTICE DATED 17.01.2025 ISSUED TO THIS PETITIONER BY ADVOCATE COMMISSIONER. Exhibit P6 A TRUE COPY OF THE JUDGMENT DATED 04.02.2025 IN W.P.(C) NO. 4035/2025 OF THIS HON’BLE COURT. Exhibit P7 A TRUE COPY OF THE NOTICE DATED 23.03.2025 ISSUED BY THE ADVOCATE COMMISSIONER. Exhibit P8 A TRUE COPY OF THE RECEIPT DATED 27.03.2025 WITH REGARD TO PAYMENT OF RS. 16,00,000/- BY THE PETITIONER TO THE 1ST RESPONDENT BANK