2025:KER:27545 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 1ST DAY OF APRIL 2025 / 11TH CHAITHRA, 1947 WP(C) NO. 13285 OF 2025 PETITIONER/S: 1 JITHEESH, AGED 33 YEARS S/O. KARIYATHAN, CHEMBAZHI MATTIL HOUSE, PERUVALLUR VILLAGE ,ABDU RAHIMAN NAGAR, OLAKARA, TIRURANGADI P.O, MALAPPURAM, PIN - 676306 2 SOUMIA N., AGED 30 YEARS W/O. JITHEESH, CHEMBAZHI MATTIL HOUSE, PERUVALLUR VILLAGE, ABDU RAHIMAN NAGAR, OLAKARA, TIRURANGADI P.O, MALAPPURAM, PIN - 676306 BY ADV SHILPA K. RESPONDENT/S: 1 MAHINDRA RURAL HOUSING FINANCE LTD., UNIT NO. 203, AMITI BUILDING, PIRAMAL AGASTYA CORPORATE PARK, OPPOSITE FIRE BRIGADE STATION, KAMANI JUNCTION, L.B.S. MAIN ROAD, KURLA (WEST), MUMBAI,REP. BY ITS AUTHORISED OFFICER, PIN - 400070 2 MAHINDRA RURAL HOUSING FINANCE LTD., KUTTIPPURAM BRANCH,1ST FLOOR, PVM COMPLEX, NOTTANALUKKAL TEMPLE ROAD, MALLUR KADAVU, KAVUMOPURAM, KUTTIPPURAM, KERALA, REP. BY ITS AUTHORISED OFFICER, PIN - 676552 2025:KER:27545 W.P.(C)No.13285 of 2025 2 OTHER PRESENT: SRI. P.PAULOCHAN ANTONY, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 01.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27545 W.P.(C)No.13285 of 2025 3 JUDGMENT Petitioner has 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 a housing loan availed by 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 and the overdue amount as on 01.04.2025 is Rs.1,09,218/-. 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 heard the learned counsel for the petitioner and the learned Standing Counsel for the respondent Bank and having regard 2025:KER:27545 W.P.(C)No.13285 of 2025 4 to the facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs/instalments, I am of the view that the petitioner can be granted an opportunity to clear off the overdue amount in seven (7) equal monthly instalments first of which shall be paid on or before 23.04.2025 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.1,09,218/- along with interest, bank charges and costs from the petitioner and regularise the loan account of the petitioner in the following manner: (i) The overdue amount of Rs.1,09,218/- together with any accrued interest, bank charges and costs shall be repaid in seven equated monthly instalments; (ii) The first instalment shall be paid on or before 2025:KER:27545 W.P.(C)No.13285 of 2025 5 23.04.2025 and the subsequent instalments shall be paid on or before last working day of each 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; (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 Scl/ 2025:KER:27545 W.P.(C)No.13285 of 2025 6 APPENDIX OF WP(C) 13285/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE FOR TOTAL OUTSTANDING AMOUNT OF RS. 2,82,575.29 /- ISSUED BY THE 1ST RESPONDENT TO THE 1ST PETITIONER DATED 05.12.2024 Exhibit P2 A TRUE COPY OF THE DEMAND NOTICE FOR TOTAL OUTSTANDING AMOUNT OF RS. 2,82,575.29 /- ISSUED BY THE 1ST RESPONDENT TO THE 2ND PETITIONER DATED 05.12.2024 Exhibit P3 A TRUE COPY OF THE PHOTOGRAPH OF THE BANNER