2025:KER:29215 WP(C) NO. 14109 OF 2025 1 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. 14109 OF 2025 PETITIONER/S: 1 VINCENT J, AGED 46 YEARS YEARS S/O JOHNSON NADAR,MELETHILVILAVEEDU, MARUTHATOR, CHAIKKOTTUKONAM P.O, NEYYATTINKARA, TRIVANDRUM ALSO, AT :14729, MELATHULVILA VEEDU, SY NO. 14729, THAVARAVILA ROAD , NEYYATTINKARA, TRIVANDRUM, PIN - 695121 2 LAILA,AGED 42 YEARS W/O VINCENT J, MELETHILVILAVEEDU, MARUTHATOR , CHAIKKOTTUKONAM P.O, NEYYATTINKARA, TRIVANDRUM, PIN - 695122 BY ADVS. ARUN V.G. (K/795/2004) V.JAYA RAGI R.HARIKRISHNAN (KAMBISSERIL) NEERAJ NARAYAN A.S.SALMA RESPONDENT/S: 1 THE AADHAR HOUSING FINANCE LIMITED, LIMITED ( FORMERLY KNOWN AS DHFL VYSYA HOUSING FINANCE LIMITED ), REPRESENTED BY ITS AUTHORIZED OFFICER, DOOR NO. 62/4783, RAMLEELA, 1ST FLOOR , MAHAKAVI G ROAD, IYYATTIL JUNCTION, KOCHI, PIN - 682011 2 THE MANAGER, THE AADHAR HOUSING FINANCE LIMITED ( FORMERLY KNOWN AS DHFL VYSYA HOUSING FINANCE LIMITED), OFFICER DOOR NO. 62/4783, RAMLEELA, 1ST FLOOR , MAHAKAVI G ROAD, IYYATTIL JUNCTION KOCHI, PIN- 682011 SRI. RENNY AUGUSTINE, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:29215 WP(C) NO. 14109 OF 2025 2 JUDGMENT Petitioners have approached this Court, challenging proceedings initiated by the respondent financial institution 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 financial institution that the petitioners availed a loan from the respondent financial institution and committed default in repayment and the overdue amount, as on 04.04.2025, would come to Rs.1,59,643/- (Rupees One lakh fifty nine thousand six hundred and forty three only). It is submitted that, the physical possession of the secured asset is scheduled to be held on 05.04.2025. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent financial institution 2025:KER:29215 WP(C) NO. 14109 OF 2025 3 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 petitioners can be granted an opportunity to repay the overdue amount of Rs.1,59,643/- (Rupees One lakh fifty nine thousand six hundred and forty three only) along with any accrued interest, cost and charges in six 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 financial institution to accept repayment of the entire overdue amount of Rs.1,59,643/- (Rupees One lakh fifty nine thousand six hundred and forty three 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) The petitioners shall pay the overdue amount of Rs.1,59,643/- (Rupees One lakh fifty nine thousand six hundred and forty three only) along with any accrued interest, cost and charge in six equated monthly instalments; 2025:KER:29215 WP(C) NO. 14109 OF 2025 4 (ii)The first instalment shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on or before the last working day of each 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 financial institution shall be entitled to proceed in accordance with the law; (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 ajt 2025:KER:29215 WP(C) NO. 14109 OF 2025 5 APPENDIX OF WP(C) 14109/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE NOTICE UNDER SECTION 13(2) OF THE SARFASI ACT DATED 13.08.2024 Exhibit P2 A TRUE COPY OF THE MC NO. 181 OF 2025 BEFORE THE CHIEF JUDICIAL MAGISTRATE COURT THIRUVANANTHAPURAM