WP(C) NO. 13850 OF 2025 1 2025:KER:29607 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 4TH DAY OF APRIL 2025 / 14TH CHAITHRA, 1947 WP(C) NO. 13850 OF 2025 PETITIONER/S: JOSEPH MUTHANAT, AGED 70 YEARS S/O SEBASTIAN, MUTHANAT HOUSE, KOTTIYOOR AMSOM, KOTTIYOOR DESAM, KOTTIYOOR P.O., KANNUR DISTRICT, PIN - 670651 BY ADV P.P.RAMACHANDRAN RESPONDENT/S: 1 KERALA BANK, KOTTIYOOR BRANCH, REPRESENTED BY ITS MANAGER, P.O.KOTTIYOOR, KANNUR DISTRICT, PIN - 670651 2 THE AUTHORIZED OFFICER, KANNUR REGIONAL OFFICE, KERALA BANK, KANNUR DISTRICT, PIN - 670001 BY ADV M.SASINDRAN THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 13850 OF 2025 2 2025:KER:29607 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. 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. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment of a loan and the total overdue amount as on 04.04.2025 is Rs.2,97,096/-. 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. 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 total overdue in 3 equal monthly instalments, the first of which shall be paid on or before 05.05.2025 and the subsequent instalments shall be paid on the 5th 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. 5. Accordingly, there will be a direction to the respondent bank to WP(C) NO. 13850 OF 2025 3 2025:KER:29607 accept repayment of the entire overdue amount of Rs.2,97,096/- along with any accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner in the following manner: i. The petitioner shall pay the overdue amount of Rs.2,97,096/- along with any accrued interest, costs and charges in three equal monthly instalments; ii. The first instalment shall be paid on or before 05.05.2025 and the subsequent instalments shall be paid on or before the 5th day of every succeeding months; 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. The writ petition is disposed of as above. sd/- GOPINATH P. JUDGE Nsd WP(C) NO. 13850 OF 2025 4 2025:KER:29607 APPENDIX OF WP(C) 13850/2025 PETITIONER EXHIBITS Exhibit p1 TRUE COPY OF THE ABOVE NOTICE DATED 25/3/2025 ISSUED BY THE 2ND RESPONDENT