2025:KER:28530 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 3RD DAY OF APRIL 2025 / 13TH CHAITHRA, 1947 WP(C) NO. 13667 OF 2025 PETITIONER: BINOY THOMAS, AGED 43 YEARS, S/O THOMAS, KURUVIKKATTU HOUSE, KUZHITHOLU P.O., KUZHIKANDAM, UDUMBANCHOLA, IDUKKI, PIN – 685551. BY ADV M.R.SASITH RESPONDENTS: 1 THE AUTHORIZED OFFICER, THE KERALA STATE CO-OPERATIVE BANK LTD, IDUKKI,VANDANMEDU BRANCH, VANDANMEDU P.O.,IDUKKI DISTRICT, PIN – 685551. 2 THE KERALA STATE CO-OPERATIVE BANK LTD, IDUKKI,VANDANMEDU BRANCH, REPRESENTED BY ITS BRANCH MANAGER, VANDANMEDU P.O., IDUKKI DISTRICT, PIN – 685551. 3 THE BRANCH MANAGER, THE KERALA STATE CO-OPERATIVE BANK LTD, IDUKKI,VANDANMEDU BRANCH, VANDANMEDU P.O.,IDUKKI DISTRICT, PIN – 685551. SRI. K.S.ARUNKUMAR, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 13667 OF 2025 2 2025:KER:28530 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. The learned counsel for the petitioner would submit that the petitioner may be permitted to clear the liability in instalments. 3. The learned counsel for the respondent Bank submits that this is the 2nd round of litigation at the instance of the petitioner. It is submitted that the tenure of the loan is expired. It is submitted that as a matter of indulgence, the Bank is willing to permit the petitioner to clear the entire liability in instalments. It is submitted that since this is the 2nd round of litigation, the number of instalments may be limited. It is submitted that the outstanding amount as on 02.04.2025 is Rs.24,12,450/- (Rupees twenty four lakhs twelve thousand four hundred and fifty only). 4. Having regard to the circumstances of the case and the WP(C) NO. 13667 OF 2025 3 2025:KER:28530 submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount on condition that the petitioner will pay a sum of Rs.2,00,000/- (Rupees two lakhs only) on or before 30.04.2025 and the balance amount along with accrued interest, costs and charges shall be paid in 10 equal monthly instalments, the first of which shall be paid on or before 30.05.2025 and the subsequent instalments shall be paid on or before the last working day of every succeeding months. 5. Accordingly, there will be a direction to the respondent Bank to accept repayment of the outstanding amount of Rs.24,12,450/- (Rupees twenty four lakhs twelve thousand four hundred and fifty only) along with accrued interest, costs and charges from the petitioner in the following manner:- (i)The petitioner shall pay a sum of Rs.2,00,000/- (Rupees two lakhs only) on or before 30.04.2025. The balance outstanding amount along with any accrued interest, costs and charges shall be paid in 10 equal monthly instalments; (ii)The first instalment shall be paid on or before 30.05.2025 and the subsequent instalments shall be WP(C) NO. 13667 OF 2025 4 2025:KER:28530 paid on or before the last working day of every succeeding months; (iii)In the event of default of any one instalment, the respondent Bank shall be entitled to proceed in accordance with the law; (iv) 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. 13667 OF 2025 5 2025:KER:28530 APPENDIX OF WP(C) 13667/2025 PETITIONER EXHIBITS Exhibit-P1 THE TRUE COPY OF THE DEMAND NOTICE ISSUED BY THE RESPONDENTS DATED 07.09.2021. Exhibit-P2 THE TRUE COPY OF NOTICE DATED 21.02.2025 ISSUED BY THE ADVOCATE COMMISSIONER. Exhibit-P3 TRUE COPY OF JUDGEMENT IN OS NO 160/2023 DATED 22/11/2024 FILED BY THE PETITIONER.