2025:KER:30935 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. 14201 OF 2025 PETITIONERS: 1 FAZIL. P, AGED 41 YEARS, S/O. ABOOBACKER PARAMMAL, CHARAMKULAM, CHANDAKUNNU .P.O, NILAMBUR, MALAPPURAM, PIN – 679329. 2 ABOOBACKER P., AGED 72 YEARS, S/O. AHAMMEDKUTTY PARAMMAL, CHARAMKULAM, CHANDAKUNNU P.O, NILAMBUR, MALAPPURAM, PIN – 679329. BY ADVS. AVM.SALAHUDIN M.P.SEETHA NASRIN WAHAB SIVA PRASAD L.R. RESPONDENTS: 1 AXIS BANK LTD, REPRESENTED BY ITS BRANCH MANAGER, 1ST FLOOR, LILLIS TOWER, BEHIND ENGLISH PALLI BUS STOP, KANNUR ROAD, WEST NADAKKAVU, KOZHIKODE, PIN – 673011. 2 THE AUTHORIZED OFFICER, AXIS BANK LTD, 1ST FLOOR, LILLIS TOWER, BEHIND ENGLISH PALLI BUS STOP, KANNUR ROAD, WEST NADAKKAVU, KOZHIKODE, PIN – 673011. SRI. MADHU RADHAKRISHNAN, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 08.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 14201 OF 2025 2 2025:KER:30935 JUDGMENT The 1st petitioner availed an overdraft facility and a term loan from the respondent Bank. The 2nd petitioner is the father of the 1st petitioner, who is the guarantor in respect of the loans availed by the 1st petitioner from the respondent Bank. On default being committed, proceedings have been initiated against the petitioners under the provisions of the SARFAESI Act prompting the petitioners to approach this Court by filing the above writ petition. 2. The learned counsel for the petitioners would submit that the petitioners may be permitted to clear the liability in instalments. 3. It was submitted on behalf of the respondent bank that the petitioners committed default in repayment of an ovedraft facility and a term loan and the total outstanding amount as on 05.04.2025 is Rs.97,48,442/- (Rupees ninety seven lakhs forty eight thousand four hundred and forty two only). It was 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 outstanding amount in limited instalments. 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 outstanding WP(C) NO. 14201 OF 2025 3 2025:KER:30935 amount along with any accrued interest, costs and charges in 12 instalments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.97,48,442/- (Rupees ninety seven lakhs forty eight thousand four hundred and forty two only) along with any accrued interest, costs and charges from the petitioners in the following manner:- (i) The petitioners shall pay the outstanding amount of Rs.97,48,442/- (Rupees ninety seven lakhs forty eight thousand four hundred and forty two only) along with any accrued interest, costs and charges in 12 equated monthly instalments; (ii) The first instalment shall be paid on or before 15.05.2025 and the subsequent instalments shall be paid on or before the 15th day of every succeeding months; (iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law; (iv) 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 DK WP(C) NO. 14201 OF 2025 4 2025:KER:30935 APPENDIX OF WP(C) 14201/2025 PETITIONER EXHIBITS Exhibit-P1 A TRUE COPY OF THE NOTICE DATED 28.08.2024 ISSUED BY THE 2ND RESPONDENT. Exhibit-P2 A TRUE COPY OF NOTICE DATED 15/03/2025 ISSUED BY THE ADVOCATE COMMISSIONER.