2025:KER:31283 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. 13707 OF 2025 PETITIONER: HAMZA, AGED 64 YEARS, S/O MUHAMMED, AERIPARAMBIL (H), AYANIKKAD, KOZHIKKODE DISTRCT, PIN – 673 522. BY ADVS. K.REEHA KHADER SREELAKSHMI SABU UMMUL FADLA T. HASANATH P. RESPONDENT: KERALA STATE CO-OPERATIVE BANK, RECOVERY DEPARTMENT,PB NO. 503, KALLAYI ROAD, CHALAPPURAM P O, KOZHIKKODE DISTRICT, REPRESENTED BY ITS MANAGER, PIN – 673 002. BY ADV. P.C.SASIDHARAN,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:31283 WP(C) 13707/2025 2 JUDGMENT Petitioner availed two loans from the 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 accounts. 3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment and the total overdue amount in respect of both the loans put together is Rs.7,90,451/-, as on 03-04-2025. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is 2025:KER:31283 WP(C) 13707/2025 3 willing to accept repayment of the overdue amount in limited installments and regularize 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 overdue amount on a condition that he will pay a sum of Rs.1,00,000/- 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 accounts regularized. 5. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.7,90,451/- along with any accrued interest, cost and charges from the petitioner and regularize the loan accounts of the petitioner in the following manner: (i) The petitioner shall pay an amount of Rs.1,00,000/- (Rupees One Lakh Only) on or before 30-04-2025. The balance overdue amount shall be repaid in eight (08) 2025:KER:31283 WP(C) 13707/2025 4 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:31283 WP(C) 13707/2025 5 APPENDIX OF WP(C) 13707/2025 PETITIONER’S EXHIBITS Exhibit P1 A TRUE COPY OF THE DEMAND NOTICE ISSUED UNDER SECTION 13 (2) OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002 DATED 06/12/2024 TO THE PETITIONER Exhibit P2 TRUE COPY OF NOTICE UNDER SECTION 13(4) OF SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002, TO THE PETITIONER ON 20/2/2025 Exhibit P3 TRUE COPY OF THE PAPER PUBLICATION SHOWING SEIZURE NOTICE PUBLISHED BY THE RESPONDENT ON MATHRBOOMI DAILY NEWSPAPER DATED ON 18/03/2025