Kerala High Court
WP(C)/14723/2025 of PRAKASH KUMAR P.K., Vs AXIS BANK, on 8 April 2025
OF 2025 1 2025:KER:30983 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. 14723 OF 2025 PETITIONER: PRAKASH KUMAR P.K., AGED 48 YEARS S/O. P.A. KUMARAN, AICKAD, KODUMON P.O., KODUMON,
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. 14723 OF 2025
PETITIONER:
PRAKASH KUMAR P.K.,
AGED 48 YEARS
S/O. P.A. KUMARAN, AICKAD, KODUMON P.O., KODUMON, PATHANAMTHITTA, KERALA, PIN - 691555
BY ADVS.
KRISHNENDHU V.B
HARIKRISHNAN V.A
RESPONDENT:
AXIS BANK,
RESPRESENTED BY ITS AUTHORIZED OFFICER/MANAGER, AXIS
BANK, RETAIL ASSTS CENTER, 2ND FLOOR, NIHAL COMPLEX, KARAMANA, TRIVANDRUM, KERALA, PIN - 695002
OTHER PRESENT:
SRI. P.PAULOCHAN ANTONY,SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
08.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent 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 overdue amount in instalments and to obtain regularisation of the loan account.
3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment of a housing loan and the total overdue amount as on 08.04.2025 is Rs.1,27,944/-. 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 instalments and regularise the loan account.
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 total overdue in six equal monthly instalments, the first of which shall be paid on or before 30.04.2025 and the subsequent instalments shall be paid on the last working day of every succeeding months and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularised.
5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.1,27,944/- along with any accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner in the following manner:
i. The petitioner shall pay the overdue amount of Rs.1,27,944/- along with any accrued interest, costs and charges in six equal 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. Petitioner shall continue to pay the regular EMI’s/instalments along with the instalments directed above;
iv. In the event of default of any one instalment, 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 Nsd
APPENDIX OF WP(C) 14723/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE POSSESSION NOTICE DATED 21.03.2025