2025:KER:26706 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. 12593 OF 2025 PETITIONER: VALSALA S, W/O BAHULEYAN, AGED 50 YEARS, VILAYIL THEKKEKARA, CHEMPRAMON, PUNNALA POST, KOLLAM, KERALA, PIN – 689696. BY ADV ASHIK TOM RESPONDENT: AXIS BANK,PATHANAPURAM BRANCH, ASHA TOWER, MAIN ROAD KAYAMKULAM PUNALUR ROAD,PATHANAPURAM, KOLLAM DISTRICT-REPRESENTED BY ITS BRANCH MANAGER/AUTHORISED OFFICER, PIN – 689695. SRI.P.PAULOCHAN ANTONY, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 12593 OF 2025 2 2025:KER:26706 JUDGMENT The petitioner has 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 petitioner. 2. The learned counsel for the petitioner would submit that the petitioner may be permitted to clear the liability in instalments. 3. The learned counsel for the respondent Bank submits that the loan account of the petitioner is in Non-Performing Asset status from 2021 onwards. It is submitted that the outstanding amount as on today (27.03.2025) is Rs.14,69,861/-. It is submitted that considering the peculiar facts and circumstance of the case, the Bank has no objection in permitting the petitioner to clear the outstanding amount in instalments. It is submitted that considering the circumstances of the petitioner, the Bank is willing to accept 24 instalments to the petitioner to clear the outstanding liability. 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 outstanding amount along with any accrued interest, costs and charges in 24 instalments. 5. Accordingly, there will be a direction to the respondent WP(C) NO. 12593 OF 2025 3 2025:KER:26706 bank to accept repayment of the entire outstanding amount of Rs.14,69,861/- (Rupees fourteen lakhs sixty nine thousand eight hundred and sixty one only) along with any accrued interest, costs and charges from the petitioner in the following manner:- (i) The petitioner shall pay the outstanding amount of Rs.14,69,861/- (Rupees fourteen lakhs sixty nine thousand eight hundred and sixty one only) along with any accrued interest, costs and charges in 24 equated monthly instalments; (ii) The first instalment shall be paid on or before 15.04.2025 and the subsequent instalments shall be paid on or before the 15th 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 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 DK WP(C) NO. 12593 OF 2025 4 2025:KER:26706 APPENDIX OF WP(C) 12593/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE PHOTOCOPY OF LOAN A/C STATEMENT IN THE NAME OF HER SON DATED 24.03.2025 Exhibit P2 TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER APPOINTED BY CHIEF JUDICIAL MAGISTRATE COURT, KOLLAM DATED 03.03.2025