2025:KER:30457 WP(C) NO. 12503 OF 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 8TH DAY OF APRIL 2025 / 18TH CHAITHRA, 1947 WP(C) NO. 12503 OF 2025 PETITIONER/S: 1 NATARAJAN, AGED 74 YEARS S/O K.VELAYUDHAN ACHARI, R/AT KAILAS, KOIKKAL MURI EAST KALLADAP.O., KOLLAM DISTRICT, PIN - 691502 2 JAYASREE DEV, AGED 61 YEARS W/O NATARAJAN R/AT KAILAS, KOIKKAL MURI EAST KALLADA P.O, PIN - 691502 BY ADVS. T.S.MAYA (THIYADIL) K.A.SUNITHA RESPONDENT/S: 1 KERALA STATE, REPRESENTED BY CHIEF SECRETORY, SECRETARIAT, THIRUVANANTHAPURAM, PIN - 695001 2 AUTHORISED OFFICER /AREA MANAGER, KERALA STATE CO-OPERATIVE BANK LTD, KUNDARA AREA , KUNDARA P.O., KOLLAM DISTRICT, PIN - 691501 3 BRANCH MANAGER, KERALA STATE CO-OPERATIVE BANK CHITTUMALA BRANCH, CHITTUAMALA P.O., KOLLAM DISTRICT, PIN - 691502 SRI. P.C.SASIDHARAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:30457 WP(C) NO. 12503 OF 2025 2 JUDGMENT Petitioners have 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 petitioners. 2. During the course of hearing, petitioners have 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 petitioners availed an educational loan from the respondent bank and committed default in repayment and the overdue amount, as on 26.03.2025, would come to Rs.11,23,404/- (Rupees Eleven lakh twenty three thousand four hundred and four only). 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. 2025:KER:30457 WP(C) NO. 12503 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 petitioners can be granted an opportunity to repay the overdue amount of Rs.11,23,404/- (Rupees Eleven lakh twenty three thousand four hundred and four only) along with any accrued interest, cost and charges in fifteen 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.11,23,404/- (Rupees Eleven lakh twenty three thousand four hundred and four only) along with accrued interest, cost and bank charges from the petitioners and regularise the loan account of the petitioners in the following manner:- (i) The petitioners shall pay the overdue amount of Rs.11,23,404/- (Rupees Eleven lakh twenty three thousand four hundred and four only) along with any accrued interest, cost and charges in fifteen 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 each succeeding months; 2025:KER:30457 WP(C) NO. 12503 OF 2025 4 (iii)Petitioners 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 petitioners to repay the entire amounts, all coercive proceedings shall be kept in abeyance. If the petitioners have a case that the petitioners are entitled to any benefit of waiver of penal interest on the basis of Exhibit P6, it is open to the petitioners to approach the bank with a request for the same. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE ajt 2025:KER:30457 WP(C) NO. 12503 OF 2025 5 APPENDIX OF WP(C) 12503/2025 PETITIONER EXHIBITS EXHIBIT P-1 TRUE COPIES OF THE TREATMENT DETAILS OF THE FIRST PETITIONER EXHIBIT P-1Ial TRUE COPIES OF THE TREATMENT DETAILS OF THE 2ND PETITIONER EXHIBIT P-2 TRUE COPY OF THE POSSESSION NOTICE DATED 22- 8-2023 ISSUED BY THE 2ND RESPONDENT EXHIBIT P-3 TRUE COPY OF THE REQUEST FILED BY THE FIRST PETITIONER DATED 4-11-2023 EXHIBIT P-4 TRUE COPY OF ONE OF THE PETITION FILED BY THE FIRST PETITIONER DATED 25-11-2024 EXHIBIT P-5 TRUE COPY OF THE LETTER ISSUED BY THE DEPUTY GENERAL MANAGER TO THE FIRST PETITIONER DATED 5-12-2024 EXHIBIT P-6 TRUE COPY OF THE LETTER ISSUED BY THE DEPUTY GENERAL MANAGER DATED 6-1-2025 EXHIBIT P-7 TRUE COPY OF THE PROCEEDINGS GOT THE PETITIONER THROUGH E COURTS OF CHIEF JUDICIAL MAGISTRATE COURT KOLLAM IN MC 20/2025