2025:KER:30207 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. 13258 OF 2025 PETITIONERS: 1 THOMASKUTTY V.C., AGED 44 YEARS, S/O. CHACKO, VALAYATTIL HOUSE, MUNDAKKAKKUNNU, ELIKKULAM, KOTTAYAM DISTRICT, PIN – 686577. 2 ABRAHAM CHACKO, AGED 42 YEARS S/O. CHACKO, VALAYATHIL HOUSE, MADUKKAKUNNU P.O., ELIKKULAM, KOTTAYAM DISTRICT, PIN – 686577. 3 AUTHORIZED OFFICER, THE KERALA STATE CO-OPERATIVE BANK LTD., COBANK TOWERS, PALAYAM, THIRUVANANTHAPURAM, PIN – 695033. BY ADV O.D.SIVADAS RESPONDENTS: 1 AUTHORIZED OFFICER, THE KERALA STATE CO-OPERATIVE BANK LTD., COBANK TOWERS, PALAYAM, THIRUVANANTHAPURAM, PIN – 695033. 2 THE BRANCH MANAGER, KERALA STATE CO-OPERATIVE BANK, PAIKA BRANCH, KOTTAYAM, PIN – 686577. BY SRI.K.S.ARUNKUMAR, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 13258 OF 2025 2 2025:KER:30207 JUDGMENT The petitioners have approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent bank for recovery of the amounts due from the petitioners. 2. The learned counsel for the petitioners would submit that the petitioners may be permitted to clear the liability in instalments. 3. It was submitted on behalf of the respondent bank that the petitioners committed default in repayment of a business loan and the outstanding amount as on 28.03.2025 is Rs.94,98,603/- (Rupees ninety four lakhs ninety eight thousand six hundred and three only). It was 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 outstanding amount in limited instalments. 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 along with any accrued interest, costs and charges in 15 instalments. WP(C) NO. 13258 OF 2025 3 2025:KER:30207 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.94,98,603/- (Rupees ninety four lakhs ninety eight thousand six hundred and three only) along with any accrued interest, costs and charges from the petitioners in the following manner:- (i) The petitioners shall pay the outstanding amount of Rs.94,98,603/- (Rupees ninety four lakhs ninety eight thousand six hundred and three only) along with any accrued interest, costs and charges in 15 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 every 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; (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 DK WP(C) NO. 13258 OF 2025 4 2025:KER:30207 APPENDIX OF WP(C) 13258/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE NOTICE DATED NIL ISSUED BY THE 1ST RESPONDENT TO THE PETITIONERS’ MOTHER Exhibit P2 THE COPY OF THE NOTICE DATED 12.03.2025 ISSUED BY THE ADVOCATE COMMISSIONER TO THE PETITIONERS