WP(C) NO. 15273 OF 2025 1 2025:KER:31495 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. 15273 OF 2025 PETITIONER: CHINNAN K.A., AGED 65 YEARS S/O. KOCHUKUNJAN, HOUSE NO. XI/583, ARAKKAL HOUSE, JANAKEEYA ROAD, ELAMKUNNAPUZHA, ERNAKULAM, PIN - 682503 BY ADVS. C.Y.VINOD KUMAR K.G.RAJEESH RESPONDENT: THE FEDERAL BANK LTD., LCRD/ERNAKULAM DIVISION, GROUND FLOOR, FEDERAL TOWERS, MARINE DRIVE, ERNAKULAM. REPRESENTED BY ITS AUTHORISED OFFICER, PIN - 682031 SRI. P.PAULOCHAN ANTONY, SC THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 10.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C) NO. 15273 OF 2025 2 2025:KER:31495 JUDGMENT Petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the bank for recovery of the amounts due from the petitioner. 2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the outstanding amount in instalments. 3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment of a cash credit facility and the outstanding amount is Rs.42,98,274/- 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 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 petitioner can be granted an opportunity to repay the outstanding amount on condition that Rs.5,00,000/- shall be paid on or before 05.05.2025 and the balance amount shall be paid in 10 equal monthly instalments, the first of which shall be paid on or before 05.06.2025 and the subsequent instalments shall be paid on the 5th WP(C) NO. 15273 OF 2025 3 2025:KER:31495 day of every succeeding months. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the outstanding amount of Rs.42,98,274/- along with accrued interest, costs and charges from the petitioner in the following manner: (i)The petitioner shall pay a sum of Rs.5,00,000/- on or before 05.05.2025; the balance outstanding amount along with any accrued interest, costs and charges in 10 equal monthly instalments; (ii)The first instalment shall be paid on or before 05.06.2025 and the subsequent instalments shall be paid on the 5th 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 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 Nsd WP(C) NO. 15273 OF 2025 4 2025:KER:31495 APPENDIX OF WP(C) 15273/2025 PETITIONER EXHIBITS Exhibit P1 COPY OF THE NOTICE DATED 29/08/2023 ISSUED BY THE ADVOCATE COMMISSIONER