2025:KER:28067 W.P.(c)No.13409 OF 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. WEDNESDAY, THE 2ND DAY OF APRIL 2025 / 12TH CHAITHRA, 1947 WP(C) NO. 13409 OF 2025 PETITIONER/S: BAIJU JOSEPH, AGED 42 YEARS S/O JOSEPH, THEKKAN HOUSE, KOTTAMAM, NEELESWARAM P.O., KALADY,ERNAKULAM DISTRICT, KERALA, PIN - 683754 BY ADVS. SHERRY J. THOMAS JOEMON ANTONY JINO K.P RENISH RAVEENDRAN ANTONY NILTON REMELO ANJANA P.V. RESPONDENT/S: 1 ALWAYE URBAN CO-OPERATIVE BANK LTD NO. 1623, HEAD OFFICE AT MARKET ROAD, ALWAYE, ERNAKULAM DISTRICT KERALA,REPRESENTED BY ITS MANAGER, PIN - 683101 2 AUTHORIZED OFFICER, 2025:KER:28067 W.P.(c)No.13409 OF 2025 2 ALWAYE URBAN CO-OPERATIVE BANK LTD NO. 1623, HEAD OFFICE AT MARKET ROAD, ALWAYE, ERNAKULAM DISTRICT, KERALA, PIN - 683101 3 ALWAYE URBAN CO-OPERATIVE BANK LTD NO. 1623 KALADY BRANCH, CITY TOWER, MALAYATTOOR ROAD, ERNAKULAM DISTRICT, KERALA, REPRESENTED BY ITS MANAGER, PIN - 683754 OTHER PRESENT: SMT. R.LEELA, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 02.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28067 W.P.(c)No.13409 OF 2025 3 JUDGMENT The petitioner availed a personal overdraft facility from the respondent bank. On default being committed, proceedings have been initiated against the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prompting the petitioner to approach this court by filing the above writ petition. 2. The learned counsel appearing for the petitioner submits that the petitioner may be permitted to pay off the overdue amounts and regularise the loan account. 3. The learned counsel appearing for the respondent bank submits that in the personal overdraft facility, the term of the loan has expired. It is submitted that the petitioner can only seek for renewal of the facility by paying a sum of Rs.3,50,000/- immediately. It is submitted that the outstanding liability in the account of the petitioner is Rs.23,77,000/-. It is submitted that the account turned into Non Performing Asset status in the month of June, 2024. It is submitted that the wife of the petitioner is employed in the State Bank of India and the petitioner is himself on a well known businessman. It 2025:KER:28067 W.P.(c)No.13409 OF 2025 4 is submitted that in such circumstances, if the petitioner wishes to renew the facility, it may be required to pay a sum of Rs.3,50,000/- immediately and make a suitable application to the bank. Having heard the learned counsel appearing for the petitioner and the learned counsel appearing for the respondent bank and having regard to the facts and circumstances noticed above, this writ petition will stand disposed of directing that if the petitioner pays a sum of Rs.3,50,000/- together with any accrued interest, charges and costs within a period of one month from today (02.04.2025) and files an application for renewal of the overdraft facility, the same shall be considered by the competent authority of the respondent bank. Till a decision is taken by the competent authority of the respondent bank, and subject to payment of the sum of Rs.3,50,000/- as directed above, further proceedings under the SARFAESI Act shall remain suspended. Sd/- GOPINATH P. JUDGE Scl/ 2025:KER:28067 W.P.(c)No.13409 OF 2025 5 APPENDIX OF WP(C) 13409/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE BANK PASSBOOK OF THE PETITIONER Exhibit P2 THE TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 20-09-2024 Exhibit P3 THE TRUE COPY OF THE SCREENSHOT OF THE PAYMENT TOWARDS THE LOAN Exhibit P4 THE TRUE COPY OF NOTICE ISSUED BY THE ADVOCATE COMMISSIONER TO PETITIONER DATED 19-03-2025 Exhibit P5 THE TRUE COPY OF THE REQUEST SUBMITTED BEFORE THE 1ST RESPONDENT DATED 25-03- 2025 Exhibit P6 THE TRUE COPY OF THE POSTAL RECEIPT DATED 25-03-2025 Exhibit P7 THE TRUE COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT TO PETITIONER DATED 26-03- 2025