2025:KER:28463 WP(C) NO. 13867 OF 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. 13867 OF 2025 PETITIONER/S: 1 MOOSA P.A.,AGED 55 YEARS S/O. ABDUL KAREEM, RESIDING AT PANIKKAVEETTIL (H), TIPPU SULTHAN ROAD, NATTIKKA P.O., THRISSUR DISTRICT, PIN - 680566 2 BUSHARA MOOSA,AGED 40 YEARS, W/O. MOOSA, RESIDING AT PANIKKAVEETTIL (H), TIPPU SULTHAN ROAD, NATTIKKA P.O., THRISSUR DISTRICT, PIN - 680566 BY ADVS. ANANTHAKRISHNAN A. ENCIL K. SABU RESPONDENT/S: DCB BANK LIMITED, THRISSUR BRANCH, 1ST FLOOR, GLOBAL CENTRE, M.G ROAD, KOTTAPPURAM, THRISSUR DISTRICT, REPRESENTED BY ITS AUTHORISED OFFICER, PIN - 680004 SRI. B.S.SURESH KUMAR THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28463 WP(C) NO. 13867 OF 2025 2 JUDGMENT Petitioners have approached this Court, challenging proceedings initiated by the respondent Bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 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. It is submitted on behalf of the respondent bank that the petitioners availed a housing loan from the respondent bank and committed default in repayment and the overdue amount, as on 03.04.2025, would come to Rs.3,07,713/- (Rupees Three lakh seven thousand seven hundred and thirteen only). 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 provided a substantial amount is paid as expeditiously as possible. 2025:KER:28463 WP(C) NO. 13867 OF 2025 3 4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the overdue amount of Rs.3,07,713/- (Rupees Three lakh seven thousand seven hundred and thirteen only) on a condition that the petitioner shall pay an amount of Rs.1,00,000/- (Rupees Two lakh only) on or before 30.04.2025 and the balance amount along with any accrued interest, cost and charges in twelve instalments 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.3,07,713/- (Rupees Three lakh seven thousand seven hundred and thirteen only)along with accrued interest, cost and bank charges from the petitioners and regularise the loan account of the petitioners in the following manner:- (i) Petitioners shall pay an amount of Rs.1,00,000/- (Rupees Two lakh only) on or before 30.04.2025 ; (ii) The balance overdue amount of Rs.2,07,713/- (Rupees Two lakh seven thousand seven hundred and thirteen only) along with any accrued interest, cost and charges shall be paid in twelve equated monthly instalments; 2025:KER:28463 WP(C) NO. 13867 OF 2025 4 (iii)The first instalment shall be paid on or before 30.05.2025 and the subsequent instalments shall be paid on or before the last working day of each succeeding months; (iv)Petitioners shall continue to pay the regular EMI’s/instalments along with the instalments directed above; (v) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; (vi) 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 ajt 2025:KER:28463 WP(C) NO. 13867 OF 2025 5 APPENDIX OF WP(C) 13867/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE LOAN ACCOUNT DETAILS IN DATED 14-06-2024 Exhibit P2 A TRUE COPY OF THE DEMAND NOTICE DATED 17-02- 2025 ISSUED UNDER SECTION 13(2) OF THE SARFAESI ACT ISSUED BY THE RESPONDENT