WP(C) NO. 46517 OF 2024 1 2025:KER:31462 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. 46517 OF 2024 PETITIONERS: 1 JOHNSON K.I., AGED 69 YEARS S/O. ISSAC, KALATHUNKAL HOUSE, VADAKARA P.O. THALAYOLAPARAMBU, KOTTAYAM DISTRICT, PIN - 686605 2 RANI JOHNSON, AGED 64 YEARS W/O. JOHNSON K.I., KALATHUNKAL HOUSE, VADAKARA P.O., THALAYOLAPARAMBU, KOTTAYAM DISTRICT, PIN - 686605 BY ADVS. K.T.SAJU SANEESH KUNJUKUNJU RESPONDENT/S: THE AUTHORIZED OFFICER, KERALA STATE CO OPERATIVE BANK LTD., NO.151-B, GROUND FLOOR, THIRUVANANTHAPURAM, PIN - 675033 OTHER PRESENT: SRI. ATHUL SHAJI, 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. 46517 OF 2024 2 2025:KER:31462 JUDGMENT Petitioners have approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the bank 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 outstanding amount in instalments. 3. It is submitted on behalf of the respondent bank that the petitioners committed default in repayment of a loan and the outstanding amount as on 02.04.2025 is Rs.7,36,996/-. 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 petitioners can be granted an opportunity to repay the outstanding amount in 12 instalments. 5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.7,36,996/- along with any accrued interest, costs and charges WP(C) NO. 46517 OF 2024 3 2025:KER:31462 from the petitioners in the following manner: (i)The outstanding amount of Rs.7,36,996/- along with any accrued interest, costs and charges shall be repaid in 12 equated monthly instalments; (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 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 Nsd WP(C) NO. 46517 OF 2024 4 2025:KER:31462 APPENDIX OF WP(C) 46517/2024 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 16.12.2024 ISSUED BY THE ADVOCATE COMMISSIONER