2025:KER:27171 W.P (C) No.12634/2025 -1- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 28TH DAY OF MARCH 2025 / 7TH CHAITHRA, 1947 WP(C) NO. 12634 OF 2025 PETITIONER/S: 1 MADHUSOODANAN P., AGED 50 YEARS S/O.PODIYAN, PANACHIVILA THUNDIL VEEDU, VILANGARA, PLAPALLY P.O., KOTTARAKARA, KOLLAM, PIN - 691531 2 RAJANI S., AGED 44 YEARS W/O.MADHUSOODANAN, PANACHIVILA THUNDIL VEEDU, VILANGARA, PLAPALLY P.O, KOTTARAKARA, KOLLAM, PIN - 691531 BY ADVS. SREERAJ M.D. NEELANJANA NAIR RESPONDENT/S: THE BANK OF BARODA, REPRESENTED BY ITS CHIEF MANAGER & AUTHORIZED OFFICER, KOTTIYAM BRANCH, MAMS COMMERCIAL COMPLEX, ESI JUNCTION, KOTTIYAM P.O., KOLLAM, PIN - 691571 OTHER PRESENT: SRI. K.ANAND, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:27171 W.P (C) No.12634/2025 -2- J U D G M E N T Petitioners have approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due upon a Housing loan availed by the petitioners. 2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account. 3. The learned counsel for the respondent bank submits that physical possession of the secured asset was taken in the month of January. It is submitted that the sale of the property is scheduled to be held on tomorrow (29-03-2025). It is submitted that the amount required for upgrading the loan as on today is Rs.5,33,424/-. It is submitted that if this court is inclined to grant permission to the petitioners to clear the entire overdue amount in some instalments, the petitioners may be required to show bona fides by remitting some substantial amount immediately. 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 facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact 2025:KER:27171 W.P (C) No.12634/2025 -3- that the petitioners have undertaken to clear off the overdue amount along with regular EMIs, I am of the view that the petitioners can be granted an opportunity to clear off the overdue amount on a condition that they will pay a sum of Rs.1,00,000/- on or before 05-04-2025 and the balance overdue amount in ten (10) equal monthly instalments first of which shall be paid on or before 30-04-2025 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.5,33,424/- along with interest, bank charges and costs from the petitioners and regularise the loan account of the petitioners in the following manner:- (i) The petitioners shall pay an amount of Rs.1,o0,000/- on or before 05-04-2025 and balance overdue amount of Rs.4,33,424/- together with any accrued interest, bank charges and costs shall be repaid in ten equated monthly instalments; (ii) The first instalment shall be paid on or before 05-05-2025 and the subsequent instalments shall be paid on or before 5th working day of each succeeding month; (iii) Petitioners shall continue to pay the regular EMI’s / instalments along with the instalments directed above; 2025:KER:27171 W.P (C) No.12634/2025 -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 petitioners to repay the entire amounts, all coercive proceedings shall be kept in abeyance. If the petitioners comply with all the conditions as directed above, the sale if any held on 29-03-2025 will not be confirmed. However, if the petitioner commits any default, it is open to the respondent bank to confirm sale if any, held tomorrow (29-03-2025) or bring the property for sale again. On the petitioners clearing entire overdue amount, possession of the secured asset shall be restored to the petitioners. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE AMG 2025:KER:27171 W.P (C) No.12634/2025 -5- APPENDIX OF WP(C) 12634/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF POSSESSION NOTICE DATED 03.05.2024 ISSUED BY THE RESPONDENT Exhibit P2 TRUE COPY OF THE TREATMENT DETAILS