2025:KER:26251 WP(C) NO. 12431 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. 12431 OF 2025 PETITIONER/S: NEENA BINO, AGED 34 YEARS OLICKAL HOUSE, THIRUVAMPADY.P.O., ERAVUKAD, ALAPPUZHA, PIN - 688002 BY ADVS. ANZAR BASHEER P.ANTO THOMAS AKSHARA S. MENON RESPONDENT/S: KERALA STATE CO-OPERATIVE BANK LTD(KERALA BANK), REGIONAL OFFICE, PB NO. 104, OPPO MUNCIPAL TOWN HALL, , ALAPPUZHA MAIN BRANCH, ALAPPUZHA-1,REPRESENTED BY THE AUTHORISED OFFICER (SARFAESI) (ERSTWHILE ALAPPUZHA DISTRICT CO-OPERATIVE BANK), PIN - 688001 BY ADV THOMAS ABRAHAM THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 27.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:26251 WP(C) NO. 12431 OF 2025 2 JUDGMENT Petitioner’s husband availed an MSME loan from the respondent bank. 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’s husband availed an MSME loan from the respondent bank and committed default in repayment and the overdue amount, as on 25.03.2025, would come to Rs.70,191/- (Rupees Seventy thousand one hundred and ninety one 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 2025:KER:26251 WP(C) NO. 12431 OF 2025 3 regularise the loan account. 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.70,191/- (Rupees Seventy thousand one hundred and ninety one only) along with any accrued interest, cost and charges in six 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.70,191/- (Rupees Seventy thousand one hundred and ninety one 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) The petitioner shall pay the overdue amount of Rs.70,191/- (Rupees Seventy thousand one hundred and ninety one only) along with any accrued interest, cost and charges in six 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 each succeeding months; (iii)Petitioner shall continue to pay the regular EMI’s/instalments along with the instalments directed above; 2025:KER:26251 WP(C) NO. 12431 OF 2025 4 (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 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:26251 WP(C) NO. 12431 OF 2025 5 APPENDIX OF WP(C) 12431/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE DEMAND NOTICE DATED 31/12/2024 ISSUED BY THE RESPONDENT BANK Exhibit P2 TRUE COPY OF THE POSSESSION NOTICE DATED 21/03/2025 ISSUED BY THE RESPONDENT BANK