WP(C) NO. 12704 OF 2025 1 2025:KER:27173 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. 12704 OF 2025 PETITIONER: VASUDEVAN, AGED 50 YEARS S/O. NARAYANAN, KOONIGAL HOUSE, KPR ROAD, MADAKKATHARA P.O., THRISSUR, PIN - 680651 BY ADVS. E.U.DHANYA LINDONS C.DAVIS N.S.SHAMILA CHINJU P. JOYIES RESPONDENTS: 1 KERALA STATE CO-OPERATIVE BANK, REPRESENTED BY ITS MANAGER, TUDA ROAD, KOVILAKATHUMPADAM, TIRUVAMBADY P.O., THRISSUR, PIN - 680022 2 BRANCH MANAGER, THE KERALA STATE CO-OPERATIVE BANK, MANNUTHY BRANCH, MANNUTHY, THRISSUR, PIN - 680651 3 AUTHORIZED OFFICER, THE KERALA STATE CO-OPERATIVE BANK, TUDA ROAD, KOVILAKATHUMPADAM, TIRUVAMBADY P.O., THRISSUR, PIN - 680022 SRI. K.S.ARUNKUMAR, 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. 12704 OF 2025 2 2025:KER:27173 JUDGMENT The petitioner and his wife has availed several credit facilities from the respondent bank. On default being committed, proceedings have been initiated against the petitioner under the provisions of the SARFAESI Act to recover 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 accounts. 3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment of the loan accounts and the total overdue amount as on 27.03.2025 is Rs.5,85,999/-. 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 accounts. 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 total overdue in ten equal monthly instalments, the first of which shall be paid on or before 15.04.2025 and the subsequent instalments shall be paid on the 15th day of every succeeding months and thereafter, if the amount so directed is repaid within the time as directed above, to have the WP(C) NO. 12704 OF 2025 3 2025:KER:27173 loan accounts regularised. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.5,85,999/- along with any accrued interest, costs and charges from the petitioner and regularise the loan accounts of the petitioner in the following manner: i. The petitioner shall pay the overdue amount of Rs.5,85,999/- along with any accrued interest, costs and charges shall be repaid in ten equal 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 Nsd WP(C) NO. 12704 OF 2025 4 2025:KER:27173 APPENDIX OF WP(C) 12704/2025 PETITIONER EXHIBITS Exhibit P1 A COPY OF THE DEMAND NOTICE DATED 21.11.2024 ISSUED UNDER SECTION 13(2) OF SARFAESI ACT, BY THE 3RD RESPONDENT. Exhibit P2 A COPY OF THE NOTICE DATED 20.03.2025 ISSUED BY THE ADVOCATE COMMISSIONER.