2025:KER:31538 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 10TH DAY OF APRIL 2025 / 20TH CHAITHRA, 1947 WP(C) NO. 15333 OF 2025 PETITIONER: ANEESH K.A AGED 41 YEARS, S/O ASHOKAN K. S KOLATTIL HOUSE, MANDANCHIRA KANNARA P. O, PEECHI THRISSUR, PIN – 680 652. BY ADV RAHUL SASI RESPONDENTS: 1 THE MANAGER,TRICHUR URBAN CO-OPERATIVE BANK LIMITED PATTIKKAD BRANCH RAYIRATH TOWERS, N.H JUNCTION THRISSUR, PIN – 680 652. 2 THE AUTHORISED OFFICER THE TRICHUR URBAN CO-OPERATIVE BANK LIMITED HEAD OFFICE MISSION QUARTERS THRISSUR, PIN – 680 001. BY ADV. DEVAPRASANTH P.J.,SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:31538 WP(C) 15333/2025 2 JUDGMENT Petitioner availed two loans from the respondent bank. On default being committed proceedings have been initiated against the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), prompting the petitioner to approach this Court by filing the above writ petition. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in installments and to obtain regularization of the loan accounts. 3. The learned counsel appearing for the respondent bank submits that since the taking of physical possession of the secured asset was scheduled tomorrow, the petitioner has remitted a sum of Rs.5,00,000/- (Rupees Five Lakhs Only) towards the loan liability today (10-04-2025). It is submitted that the total overdue 2025:KER:31538 WP(C) 15333/2025 3 amount in respect of both the loans put together is Rs.7,14,637/-, as on 10-04-2025. 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 installments and regularize the loan accounts. 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 overdue amount in 12 installments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan accounts regularized. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.7,14,637/- along with any accrued interest, costs and charges from the petitioner and regularize the loan accounts of the petitioner in the following manner: 2025:KER:31538 WP(C) 15333/2025 4 (i) The petitioner shall pay the overdue amount of Rs.7,14,637/- in 12 equated monthly installments along with any accrued interest, costs and charges; (ii) The first installment shall be paid on or before 26-05-2025. The subsequent installments shall be paid on or before the 26th day of the succeeding months; (iii) Petitioner shall continue to pay the regular EMI’s/installments along with the installments as directed above; (iv) In the event of default of any one installment, 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 ats 2025:KER:31538 WP(C) 15333/2025 5 APPENDIX OF WP(C) 15333/2025 PETITIONER’S EXHIBITS Exhibit P1 THE TRUE COPY OF THE NOTICE DATED 17.03.2025 ISSUED BY THE ADVOCATE COMMISSIONER