2025:KER:26677 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. 12767 OF 2025 PETITIONER: SHOWKATHALI K., AGED 50 YEARS, S/O. KUNHIMOHAMMED, RESIDING AT KADAMTHODI HOUSE, PANCHARATHPADI, CHOORAKODE P.O., VALLAPUZHA, PALAKKAD DISTRICT, PIN – 679336. BY ADVS. LATHEEF P.K. FAHAD HUSSAIN ABDUL RASHEED V.P. RESPONDENTS: 1 THE CHERPULASSERY CO-OPERATIVE URBAN BANK, KALATHIL BUILDINGS, 1ST FLOOR, NEAR RAILWAY GATE, VALLAPUZHA, PALAKKAD, REPRESENTED BY BRANCH MANAGER, PIN – 679336. 2 AUTHORISED OFFICER, THE CHERPULASSERY CO-OPERATIVE URBAN BANK 27/440, KAVUVATTOM, CHERPULASSERY, PALAKKAD DISTRICT, PIN – 679503. BY ADVS. SREEHARI R HAMZA A.V.(K/1588/2022) APARNA M.P.(K/001753/2024) CIBY PAUL(K/892/2000) SRI. JAYARAJ M., 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. 12767 OF 2025 2 2025:KER:26677 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. 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 committed default in repayment of a housing loan and the overdue amount is Rs.13,12,815/- (Rupees thirteen lakhs twelve thousand eight hundred and fifteen 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. 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 along with any accrued interest, costs and charges in 15 instalments and thereafter, if the amount so directed is repaid within WP(C) NO. 12767 OF 2025 3 2025:KER:26677 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.13,12,815/- (Rupees thirteen lakhs twelve thousand eight hundred and fifteen only) along with any accrued interest, costs and 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.13,12,815/- (Rupees thirteen lakhs twelve thousand eight hundred and fifteen only) along with any accrued interest, costs and charges in 15 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.Petitioner 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 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. 12767 OF 2025 4 2025:KER:26677 APPENDIX OF WP(C) 12767/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE ACCOUNT STATEMENT DATED 25-03-2025