2025:KER:28467 WP(C) NO. 39040 OF 2022 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 3RD DAY OF APRIL 2025 / 13TH CHAITHRA, 1947 WP(C) NO. 39040 OF 2022 PETITIONER/S: 1 KUTTIYAMMA MATHEW,AGED 63 YEARS W/O. MATHEW, THAIMURIYIL HOUSE, MAMMATTIKANAM P.O., RAJAKKAD, IDUKKI DISTRICT, PIN - 685566 2 JOSHY MATHEW,AGED 40 YEARS S/O. MATHEW, THAIMURIYIL HOUSE, MAMMATTIKANAM P.O., RAJAKKAD, IDUKKI DISTRICT, PIN - 685566 BY ADV S.SACHITHANANDA PAI RESPONDENT/S: THE AUTHORISED OFFICER UNDER SARFAESI ACT, KERALA STATE CO OPERATIVE BANK LTD., CREDIT PROCESSING CENTRE, IDUKKI COLONY P.O., IDUKKI DISTRICT, PIN - 685602 BY ADV GILBERT GEORGE CORREYA THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 03.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 2025:KER:28467 WP(C) NO. 39040 OF 2022 2 JUDGMENT This writ petition has been filed challenging the proceedings initiated against the petitioners under the provisions of the SARFAESI Act to recover amounts due under the credit facilities availed by them from the respondent bank. 2. On 07.02.2025, this Court passed the following order:- ‘’Counsel for the respondent bank seeks time to get instructions. Post on 17.02.2025. Taking of physical possession shall stand adjourned till that date on condition that petitioner remits an amount of Rs.2,00,000/- towards loan liability before 5 pm on 13.02.2025.’’ It is the case of the petitioners that the petitioners have complied with the interim order dated 07.02.2025 and the amount of Rs.2 lakh was remitted. 3. Learned counsel appearing for the respondent bank submits that in the light of the fact that this writ petition was pending before this Court, the respondent bank has not proceeded further in the matter though the interim order was only till 17.02.2025,. 4. Learned counsel appearing for the petitioners submits that the petitioners are attempting to have the entire loan closed by take over of the loan by another bank. It is submitted that, some time may be required for the same and till then further 2025:KER:28467 WP(C) NO. 39040 OF 2022 3 proceedings may be kept in abeyance. 5. Having heard the learned counsel appearing for the petitioners and the learned counsel appearing for the respondent bank and considering the submissions made by the learned counsel appearing for the petitioners, the writ petition will stand disposed of, directing that the further proceedings under the SARFAESI Act initiated by the respondent bank shall be kept in abeyance for a period of six weeks to enable the petitioners to have the loan taken over by another bank. It will also be open to the petitioners to approach the respondent bank with any proposal for settlement for liability within the aforesaid period. It is made clear that, if the petitioners are unable to settle the entire liability by take over of the loan by another bank within the aforesaid period of six weeks or if the proposal submitted by the petitioners for settlement of liability with the respondent bank is not accepted by the respondent bank, it will be open to the respondent bank to continue with the proceedings initiated against the petitioners. Writ petition ordered accordingly. Sd/- GOPINATH P. , JUDGE ajt 2025:KER:28467 WP(C) NO. 39040 OF 2022 4 APPENDIX OF WP(C) 39040/2022 PETITIONER EXHIBITS Exhibit P1 COPY OF THE NOTICE DATED 29/11/2022 ISSUED BY THE RESPONDENT UNDER SECTION 13(4) OF SARFAESI ACT.