WP(C) NO. 13752 OF 2025 1 2025:KER:30609 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. MONDAY, THE 7TH DAY OF APRIL 2025 / 17TH CHAITHRA, 1947 WP(C) NO. 13752 OF 2025 PETITIONERS: 1 ASHOKAN, AGED 48 YEARS S/O APPU, VELLAMAKKAL HOUSE, KUNNATHUR, PUNNAYURKULAM.P.O, THISSUR DISTRICT, PIN - 679561 2 SOBHANA, AGED 44 YEARS W/O ASHOKAN, VELLAMAKKAL HOUSE,KUNNATHUR, PUNNAYURKULAM.P.O,THISSUR DISTRICT, PIN - 679561 BY ADVS. P.S.BINU K.SEENA RESPONDENTS: 1 STATE BANK OF INDIA,REP. BY ITS BRANCH MANAGER, PUNNAYURKULAM BRANCH,LAKSHMI COMPLEX, PUNNAYURKULAM.P.O, THISSUR DISTRICT, PIN - 679561 2 AUTHORIZED OFFICER (SARFAESI ACT) STATE BANK OF INDIA, RASMEC KUNNAMKULAM,TELEPHONE EXCHANGE BUILDING KANIYAMPAL ROAD, KUNNAMKULAM, THRISSUR DISTRICT, PIN - 680503 BY ADVS. S.AMBILY RUPA R. NAIR ELIZABETH PETER K.K.CHANDRAN PILLAI (SR.) WP(C) NO. 13752 OF 2025 2 2025:KER:30609 OTHER PRESENT: SMT. S.AMBILY, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 07.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 13752 OF 2025 3 2025:KER:30609 JUDGMENT The petitioners have 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 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. Learned counsel appearing for the respondent bank submits that the outstanding amount is more than Rs.10,00,000/-. It is submitted that if the petitioners wish to regularize the loan account, petitioners may be required to pay off the overdue amount of Rs.3,46,892/- as on 03.04.2025 immediately. It is submitted that an Advocate Commissioner has been appointed to take possession of the secured assets and the respondent bank is not ready to accept the repayment of the overdue amount in installments. 4. The learned counsel appearing for the petitioners submits that the petitioners may be permitted to pay off the overdue amount in some limited installments. 5. Having regard to the circumstances of the case and WP(C) NO. 13752 OF 2025 4 2025:KER:30609 the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the total overdue in five equal monthly instalments, the first of which shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on the 30th day of every succeeding months and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. 6. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.3,46,892/- along with any accrued interest, costs and charges from the petitioners and regularise the loan account of the petitioners in the following manner: i. The petitioners shall pay the overdue amount of Rs.3,46,892/- along with any accrued interest, costs and charges in five equal monthly instalments; ii. The first instalment shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on or before the 30th day of every succeeding months; iii. Petitioners shall continue to pay the regular EMI’s/instalments along with the instalments directed above; iv. In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; WP(C) NO. 13752 OF 2025 5 2025:KER:30609 v. In order to enable the petitioners 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 Nsd WP(C) NO. 13752 OF 2025 6 2025:KER:30609 APPENDIX OF WP(C) 13752/2025 PETITIONER EXHIBITS Exhibit P1 COPY OF THE NOTICE ISSUED BY THE 2ND RESPONDENT DATED 13.02.2024 Exhibit P2 COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER IN CRL.M.P NO.12971/2024OF THE C.J.M COURT, THRISSUR DATED 09.01.2025