2025:KER:26258 WP(C) NO. 12609 OF 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 27TH DAY OF MARCH 2025 / 6TH CHAITHRA, 1947 WP(C) NO. 12609 OF 2025 PETITIONER/S: RANJITH K.M., AGED 35 YEARS S/O RAGHAVAN, KOONHAVIL METHAL HOUSE, OTHAYAMANGALAM, PANTHEERANKAVU P.O., KOZHIKODE, PIN - 673019 BY ADV C.Y.VINOD KUMAR RESPONDENT/S: 1 KERALA STATE CO-OPERATIVE BANK LTD., REGIONAL OFFICE, KALLAI ROAD, CHALAPPURAM P.O., KOZHIKODE. REPRESENTED BY ITS REGIONAL MANAGER, PIN - 673002 2 BRANCH MANAGER , KERALA STATE CO-OPERATIVE BANK LTD., PANTHEERANKAVU BRANCH, DEVAKI BUILDING, PANTHEERANKAVU P.O., KOZHIKODE, PIN - 673019 SRI. P.C.SASIDHARAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:26258 WP(C) NO. 12609 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 loan from the respondent bank and committed default in repayment and the overdue amount, as on 27.03.2025, would come to Rs.7,67,423/- (Rupees Seven lakh sixty seven thousand four hundred and twenty 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 overdue amount in limited instalments and regularise the loan account provided a substantial amount is paid as expeditiously as possible. 2025:KER:26258 WP(C) NO. 12609 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.7,67,423/- (Rupees Seven lakh sixty seven thousand four hundred and twenty three only) on a condition that the petitioner shall pay an amount of Rs.1,00,000/- (Rupees One lakh only) on or before 03.04.2025 and the balance amount along with any accrued interest, cost and charges in ten 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.7,67,423/- (Rupees Seven lakh sixty seven thousand four hundred and twenty three 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) Petitioner shall pay an amount of Rs.1,00,000/- (Rupees One lakh only) on or before 03.04.2025; (ii) The balance overdue amount of Rs.6,67,423/- (Rupees Seven lakh sixty seven thousand four hundred and twenty three only) along with any accrued interest, cost and charges shall be paid in ten equated monthly instalments; 2025:KER:26258 WP(C) NO. 12609 OF 2025 4 (iii)The first instalment shall be paid on or before 03.05.2025 and the subsequent instalments shall be paid on or before the 03rd day of each succeeding months; (iv)Petitioner shall continue to pay the regular EMI’s/instalments along with the instalments directed above; (v) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; (vi) 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:26258 WP(C) NO. 12609 OF 2025 5 APPENDIX OF WP(C) 12609/2025 PETITIONER EXHIBITS Exhibit P1 COPY OF THE NOTICE DATED 19/03/25 ISSUED BY THE ADVOCATE COMMISSIONER