2025:KER:29985 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. 13267 OF 2025 PETITIONER: ABOOBACKER P.V., AGED 62 YEARS, S/O. HASSAN MULIAR P, PONNACHAN VALAPPIL HOUSE, CHERAVALLUR, PERUMBADAPPU, MALAPPURAM, KERALA, PIN – 679 575. BY ADV ABRAHAM MATHAN RESPONDENT: SOUTH INDIAN BANK, REGIONAL OFFICE KOZHIKODE, HAPPY TOWERS, VAIKOM MOHAMMED BASHEER ROAD, MANANCHIRA, KOZHIKODE, KERALA, PIN – 673 001, REPRESENTED BY ITS AUTHORIZED OFFICER. BY ADV. P.A.AUGUSTINE, 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:29985 WP(C) 13267/2025 2 JUDGMENT The petitioner availed credit facilities from the 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 seeking the following reliefs: i. “Issue Writ of Mandamus or any other appropriate writ, order or direction directing the respondent bank to permit the petitioner to repay the overdue amount in 20 installments. ii.Grant such other relief as this honorable court deem fit in the interest of justice”. 2. The learned counsel appearing for the respondent bank submits that the outstanding amount, as on 05-04-2025, is Rs.18,80,000/-. It is submitted that if the petitioner were to approach the bank with a proposal for One Time Settlement (OTS), the same can be considered by the competent authority of the respondent bank. 2025:KER:29985 WP(C) 13267/2025 3 3. The learned counsel appearing for the petitioner submits that the petitioner will submit a proposal for OTS immediately. Having heard the learned counsel appearing for the petitioner and the learned counsel appearing for the respondent bank, this writ petition will stand disposed of, directing that if the petitioner were to submit a proposal for OTS within a period of one week from today before the competent authority of the respondent bank, the said proposal of the petitioner shall be considered and a decision shall be taken thereon without undue delay. Till such time as a proposal is considered and the decision is communicated to the petitioner, further proceedings under the SARFAESI Act shall remain suspended. Sd/- GOPINATH P. JUDGE ats 2025:KER:29985 WP(C) 13267/2025 4 APPENDIX OF WP(C) 13267/2025 PETITIONER’S EXHIBITS Exhibit P1 TRUE COPY OF THE DEMAND NOTICE DATED 18.03.2025 ISSUED BY THE RESPONDENT BANK