2025:KER:30422 W.P.(C)No.14004 OF 2025 1 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. 14004 OF 2025 PETITIONER/S: ABHILASH C.U., AGED 46 YEARS S/O. UNNIKKUTTAN, PADINJATTUMURI HOUSE, CHITTANDA P.O., WADAKKANCHERRY, THRISSUR, PIN - 686538 BY ADVS. SANIL KUNJACHAN T.M.RESHMI PRIYANKA M.D. RESPONDENT/S: 1 THE BRANCH MANAGER, DHANALAKSHMI BANK, DHANALAKSHMI BANK, KUMARANELLUR BRANCH, VIII/1023, THRISSUR-SHOMUR ROAD, KUMARANELLUR, VADAKKANCHERRY, PIN - 680002 2 THE KERALA STATE FINANCIAL ENTERPRISES, KUNNAMKULAM BRANCH, FIRST FLOOR, KAKKASSERY SOUK, THRISSUR ROAD, REP. BY ITS BRANCH MANAGER, PIN - 680002 BY ADVS. A. BALAGOPALAN PRABHU MURALI KRISHNAN(K/1373/2020) THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:30422 W.P.(C)No.14004 OF 2025 2 JUDGMENT The 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. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount as on 08.04.2025 is Rs.6,58,981/-. 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 heard the learned counsel for the petitioner and the learned Standing Counsel for the respondent Bank and 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 2025:KER:30422 W.P.(C)No.14004 OF 2025 3 that the petitioner can be granted an opportunity to clear off the overdue amount in twelve (12) equal monthly instalments first of which shall be paid on or before 30.04.2025 and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised. 5. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.6,58,981/-. 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 the overdue amount of Rs.6,58,981/-. together with any accrued interest, bank charges and costs in 12 equated 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 last working day of each succeeding month; (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 2025:KER:30422 W.P.(C)No.14004 OF 2025 4 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 Scl/ 2025:KER:30422 W.P.(C)No.14004 OF 2025 5 APPENDIX OF WP(C) 14004/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE TAKEOVER NOTICE SEND BY THE 2ND RESPONDENT TO THE 1ST RESPONDENT DATED 27.03.2024 Exhibit P2 TRUE COPY OF THE SALE NOTICE ISSUED BY THE 1ST RESPONDENT DATED 22- 10-2024