2025:KER:31257 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. TUESDAY, THE 8TH DAY OF APRIL 2025 / 18TH CHAITHRA, 1947 WP(C) NO. 13513 OF 2025 PETITIONER: MATHEW V CHACKO, AGED 53 YEARS, S/O. CHACKO, VANCHIPALAM CHIRAYIL KAVUMBHAGOM TALUK, PATHANAMTHITTA DISTRICT, PIN – 689 581. BY ADV R.SANTHOSH BABU RESPONDENTS: 1 AUTHORISED OFFICER BANK OF BARODA, REGIONAL OFFICE, FIRST FLOOR, APOORVA CHAMBERS, PALAYAM, THRFUVANANTHAPURAM, PIN – 695 034. 2 BRANCH MANAGER/AUTHORIZED OFFICER, BANK OF BARODA, NEDUMPURAM BRANCH, NEAR VAIKATHILLAM BRIDGE, PODIYADI.P.O., THIRUVALLA, PATHANAMTHITTA DISTRICT, PIN – 689 110. BY ADV LEO GEORGE (SC) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:31257 WP(C) 13513/2025 2 JUDGMENT Petitioner has availed several credit facilities from the respondent bank, including two overdraft facilities, one term loan facility and one Kisan Cash Credit (KCC) facility. 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 (SARFAESI Act) for recovery of the amounts due in respect of the aforesaid four loans, prompting the petitioner to approach this Court by filing the above writ petition. 2 The learned counsel appearing for the petitioner would submit that the petitioner may be permitted to clear the liabilities in installments. 3. The learned counsel appearing for the respondent bank submits that the petitioner will have to clear the entire liability under the two overdraft facilities and the liability under the KCC loan, as those loan accounts cannot be regularised. It is submitted that the total outstanding liability in respect of the above three loans is Rs.16,15,354/- as on 02-04-2025. It is 2025:KER:31257 WP(C) 13513/2025 3 submitted that the overdue amount in the term loan account is Rs.3,37,782/-. It is submitted that the bank has no objection in granting some reasonable instalments to the petitioner to clear the liabilities. 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 outstanding amount in respect of the two overdraft facilities and the KCC loan and the overdue amount in respect of the term loan in installments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.16,15,354/- due in respect of the two overdraft facilities and the KCC loan along with accrued interest, costs and bank charges from the petitioner in 10 installments and also to accept the overdue amount of Rs.3,37,782/- due in respect of the term loan along with regular EMI’s/installments and accrued interests, costs and bank charges from the petitioner in four (04) installments in the following manner:- i. The outstanding amount of Rs.16,15,354/- in respect of the two overdraft facilities and the KCC loan 2025:KER:31257 WP(C) 13513/2025 4 together with any accrued interest, costs and bank charges shall be repaid in 10 equated monthly installments. The first installment shall be paid on or before 30-04-2025. The subsequent installments shall be paid on or before the last working day of every succeeding months; ii. The total overdue amount of Rs.3,37,782/- in respect of the term loan along with accrued interest, costs and bank charges shall be repaid in four (04) equated monthly installments. The first installment shall be paid on or before 30-04-2025. The subsequent installments shall be paid on or before the last working day of every succeeding months. Petitioner shall also continue to pay the regular EMI’s/installments on due dates without fail; iii.In the event of default of any one installment, the respondent bank shall be entitled to proceed in accordance with the law; 2025:KER:31257 WP(C) 13513/2025 5 iv.In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance. v. It is clarified that the term loan account shall be regularized only if the entire outstanding amount in the other three loans are paid in full as permitted in this judgment. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE ats 2025:KER:31257 WP(C) 13513/2025 6 APPENDIX OF WP(C) 13513/2025 PETITIONER’S EXHIBITS Exhibit P1 A TRUE COPY OF THE JUDGMENT DATED 08-08-2024 IN W.P.(C) NO.36185/2023 Exhibit P2 A TRUE COPY OF THE DISCHARGE SUMMARY DATED 1-2-2024 ISSUED FROM THE BELIEVERS CHURCH MEDICAL COLLEGE HOSPITAL, KUTTAPUZHA, THIRUVALLA Exhibit P3 A TRUE COPY OF THE NOTICES OF SALE OF SECURED ASSETS BELONG TO THE PETITIONER DATED 12-3-2025 ISSUED BY THE 2ND RESPONDENT Exhibit P4 A TRUE COPY OF THE NOTICES OF SALE OF SECURED ASSETS BELONG TO THE PETITIONER DATED 12-3-2025 ISSUED BY THE 2ND RESPONDENT Exhibit P5 TRUE COPY OF THE PAPER PUBLICATION DEEPIKA DAILY DATED 14-03-2025 Exhibit P6 A TRUE COPY OF THE REQUEST DATED 14-03-2025 SUBMITTED BY THE PETITIONER BEFORE 2ND RESPONDENT