2025:KER:28460 W.P (C) No.13902/2025 -1- 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. 13902 OF 2025 PETITIONER/S: SREENIVASAN P., AGED 58 YEARS S/O. AYYAPPAN KUTTY, PULLATTUTHODI HOUSE, CHEENAMPUTHOOR, KAVATHIKKALAM, KOTTAKKAL P.O., MALAPPURAM DISTRICT, KERALA, PIN - 676503 BY ADVS. SHERRY J. THOMAS RENISH RAVEENDRAN JOEMON ANTONY ANTONY NILTON REMELO ANJANA P.V. RESPONDENT/S: 1 THE KOTTAKKAL CO-OPERATIVE URBAN BANK LTD., NO. 1378, HEAD OFFICE, KOTTAPPADI, KOTTAKKAL P.O., MALAPPURAM DISTRICT, REPRESENTED BY ITS AUTHORIZED OFFICER, PIN - 676503 2 THE KOTTAKKAL CO-OPERATIVE URBAN BANK LTD., NO. 1378, HEAD OFFICE, KOTTAPPADI, KOTTAKKAL P.O., MALAPPURAM DISTRICT, REPRESENTED BY ITS BRANCH MANAGER, PIN - 676503 OTHER PRESENT: SRI. DEVAPRASANTH P.J., SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28460 W.P (C) No.13902/2025 -2- J U D G M E N T Petitioner has approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due upon a loan availed by the petitioner. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularisation of the loan account. 3. The learned counsel for the respondent bank submits that this is the second writ petition at the instance of the petitioner before this court. It is submitted that on an earlier occasion the petitioner was permitted to pay off the then overdue amount in instalments. It is submitted that the petitioner was complied with the conditions in the judgment of this court and the account was once regularised. It is submitted that the sale of the property of the petitioner is scheduled to be held on 22-04-2025. It is submitted that if the petitioner pays substantial amount before 22-04-2025, the sale proposed on 22-04-2025 can be postponed. It is submitted that the present overdue amount as on 03-04-2025 is Rs.7,43,181/-. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the overdue amount in limited instalments and regularise the loan account. 2025:KER:28460 W.P (C) No.13902/2025 -3- 4. Having regard to the facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs/instalments, I am of the view that the petitioner can be granted an opportunity to clear off the overdue amount on a condition that he will pay a sum of Rs.1,00,000/- on or before 21-04-2025 and the balance overdue amount in eight (8) equal monthly instalments first of which shall be paid on or before 20-05-2025 and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.7,43,181/- along with interest, bank charges and costs from the petitioner and regularise the loan account of the petitioner in the following manner:- (i) The petitioner shall pay an amount of Rs.1,00,000/- on or before 21-04-2025 and balance overdue amount of Rs.6,43,181/- together with any accrued interest, bank charges and costs shall be repaid in eight equated monthly instalments; (ii) The first instalment shall be paid on or before 20-05-2025 and the subsequent instalments shall be paid on or before 20th working day of each succeeding month; 2025:KER:28460 W.P (C) No.13902/2025 -4- (iii) Petitioner 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; (v) In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance. If the petitioner pays Rs.1,00,000/- on or before 21-04-2025 the sale scheduled on 22-04-2025 shall be adjourned by notification on the notice board of the respondent bank. If the petitioner complies with all the conditions and clears the liability in the manner permitted, the sale shall be canceled. If the petitioner does not comply with any condition imposed on him in terms of this judgment, it will be open to the respondent bank to bring the property to sale again without having to issue any fresh paper publication. The writ petition is disposed of as above. Sd/- GOPINATH P. JUDGE AMG 2025:KER:28460 W.P (C) No.13902/2025 -5- APPENDIX OF WP(C) 13902/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE JUDGEMENT IN WPC NO.5239/2022 DATED 16-02-2022 Exhibit P2 THE TRUE COPY PAYMENT RECEIPTS OF THE PETITIONER TOWARDS THE RESPONDENT BANK Exhibit P3 THE TRUE COPY OF NOTICE OF SALE DATED 25-02- 2025 ISSUED TO THE PETITIONER BY THE 1ST RESPONDENT BANK Exhibit P4 THE TRUE COPY OF NOTICE OF INSPECTION ISSUED BY THE ADVOCATE COMMISSIONER IN MC NO. 311/2024 DATED 17-03-2025