2025:KER:28808 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. 13653 OF 2025 PETITIONER: SHYJU, AGED 45 YEARS, S/O. BHASKARAN, MEPPANNONA HOUSE, ORAVIL P.O., ULLIYERI, BALUSSERY, KOZHIKODE DISTRICT, PIN – 673 323. BY ADV AJOY VENU RESPONDENTS: 1 THE BALUSSERY CO-OPERATIVE URBAN BANK LIMITED, LL.227, BALUSSERY BRANCH, REPRESENTED BY ITS BRANCH MANAGER, URBAN BANK BUILDING, NEAR BUS STAND, BALUSSERY (P.O), KOZHIKODE DISTRICT, PIN – 673 612. 2 AUTHORIZED OFFICER, THE BALUSSERY CO-OPERATIVE URBAN BANK LTD., BALUSSERY BRANCH, URBAN BANK BUILDING, NEAR BUS STAND, BALUSSERY, KOZHIKODE DISTRICT, PIN – 673 612. 3 KAMALA M., AGED 63 YEARS, W/O. BHASKARAN, D/O. KUNHIKANNAN, MEPPANNONA HOUSE, BALUSSERY, ORAVIL P.O, KANHIKAVE, ULLIYERI, BALUSSERY, KOZHIKODE DISTRICT, PIN – 673 323. BY ADVS. M. VIVEK RAVINDRANATH (SC) V.T.MADHAVANUNNI THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28808 WP(C) 13653/2025 2 JUDGMENT Petitioner along with the 3rd respondent availed a mortgage loan from the 1st 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 (SARFAESI Act), prompting the petitioner to approach this Court by filing the above writ petition. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in installments and to obtain regularization of the loan account. 3. The learned counsel appearing for the respondent bank submits that this is practically the second writ petition seeking the same relief in respect of the same loan. It is submitted that the mother of the petitioner (3rd respondent herein) earlier approached this Court by filing W.P(C)No.2753/2024, which was disposed of on 2025:KER:28808 WP(C) 13653/2025 3 22-05-2024, permitting the 3rd respondent to pay off the then overdue amount in 10 installments. It is submitted that without complying with the directions issued by this Court in Ext.P3 judgment in W.P(C)No.2753/2024, the petitioner is now before this Court seeking practically the same relief. It is submitted that notwithstanding the above, purely as a matter of indulgence, the respondent bank is willing to permit the petitioner to regularise the loan account by paying off the present overdue amount in some limited installments, provided a substantial amount is paid towards the loan liability before the end of this month. It is submitted that the overdue amount, as on 03-04-2025, is Rs.18,76,076/-. It is submitted that the possession of the secured asset is scheduled to be taken tomorrow (04-04-2025). 4. The learned counsel appearing for the petitioner would submit that the petitioner will remit a substantial amount towards the loan liability by 30-04-2025. It is submitted that the petitioner may be permitted to pay a 2025:KER:28808 WP(C) 13653/2025 4 sum of Rs.5,00,000/- (Rupees Five Lakhs Only) by 30-04-2025 and the balance overdue amount in ten equal monthly installments. 5. 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 overdue amount on a condition that he will pay a sum of Rs.5,00,000/- on or before 30-04-2025 and balance overdue amount along with any accrued interest, cost and charges in eight (08) installments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularized. 6. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.18,76,076/- along with any accrued interest, cost and charges from the petitioner and regularize the loan account of the petitioner in the following manner: (i) The petitioner shall pay an amount of Rs.5,00,000/- (Rupees Five Lakh Only) on or before 30-04-2025. The 2025:KER:28808 WP(C) 13653/2025 5 balance overdue amount shall be repaid in eight (08) equated monthly installments, along with any accrued interest, costs and charges. The first installment shall be paid on or before 31-05-2025; (ii) The subsequent installments shall be paid on or before the last working day of every succeeding months; (iii) Petitioner shall continue to pay the regular EMI’s/installments along with the installments directed above; (iv) In the event of default of any one installment, 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 ats 2025:KER:28808 WP(C) 13653/2025 6 APPENDIX OF WP(C) 13653/2025 PETITIONER’S EXHIBITS Exhibit P1 THE TRUE COPY OF THE CERTIFICATE OF THE MEDICAL OFFICER DATED 26.10.2024 Exhibit P2 TRUE COPY OF NOTICE DATED 08/01/2024 ISSUED BY THE 2ND RESPONDENT Exhibit P3 TRUE COPY OF THE JUDGMENT OF THIS HON’BLE COURT IN WPC NO. 2753 OF 2024 DATED 22/05/2024 Exhibit P4 THE TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 29/03/2025 ISSUED BY THE RESPONDENTS