Kerala High Court
WP(C)/12635/2025 of GIREESH KUMAR.V.N, S/O NARAYANAN, Vs THE AUTHORISED OFFICER, KERALA STATE CO-OPERATIVE BANK LTD, on 8 April 2025
WP(C) NO. 12635 OF 2025 1 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. 12635 OF 2025 PETITIONER/S: 1 GIREESH KUMAR.V.N, S/O NARAYANAN,AGED 43 YEARS BRAHMANIMADOM, KRISHNAPRIYA,
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. 12635 OF 2025
PETITIONER/S:
GIREESH KUMAR.V.N, S/O NARAYANAN,AGED 43 YEARS
BRAHMANIMADOM, KRISHNAPRIYA, KAROOR,
AMBALAPPUZHA, ALAPPUZHA, PIN - 688561
SEETHA,AGED 40 YEARS, W/O GIREESH KUMAR.V.N, BRAHMANIMADOM, KRISHNAPRIYA, KAROOR, AMBALAPPUZHA, ALAPPUZHA, PIN - 688561
BY ADVS.
V.N.KIRAN LAL
ADITHYA NARAYANAN K.G.
RESPONDENT/S:
THE AUTHORISED OFFICER, KERALA STATE CO-OPERATIVE BANK
LTD,(NOW KERALA BANK), REGIONAL OFFICE, P.B. NO. 104, OPP. MUNICIPAL TOWN HALL, ALAPPUZHA, PIN - 688001
THE BRANCH MANAGER,
KERALA STATE CO-OPERATIVE BANK LTD., (NOW KERALA BANK), AMBALAPPUZHA BRANCH, ALAPPUZHA DISTRICT, PIN - 688561
BY ADV Thomas Abraham
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
Petitioners have approached this Court challenging proceedings initiated by the respondent Bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 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 liability in instalments.
3. Learned Standing Counsel appearing for the respondent bank submits that the petitioners availed a loan from the respondent bank and committed default in repayment. It is also submitted that regularisation is not possible as the term of the loan is already over. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept the repayment of the outstanding amount in limited instalments. According to the learned Standing Counsel appearing for the respondent, as on 08.04.2025, the balance amount which is liable to be repaid is Rs.19,67,476/- (Rupees Nineteen lakh sixty seven thousand four hundred and seventy six only).
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 of Rs.19,67,476/- (Rupees Nineteen lakh sixty seven thousand four hundred and seventy six only) along with accrued interest, cost and charges in fifteen instalments.
5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.19,67,476/- (Rupees Nineteen lakh sixty seven thousand four hundred and seventy six only). along with any accrued interest, cost and bank charges from the petitioners in the following manner:
(i) The petitioners shall pay the outstanding amount of Rs.19,67,476/- (Rupees Nineteen lakh sixty seven thousand four hundred and seventy six only) in fifteen equated monthly instalments along with any accrued interest, charges and costs;
(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 the 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 ajt
APPENDIX OF WP(C) 12635/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE NOTICE DATED 14TH AUGUST 2023 ISSUED BY THE DEPUTY REGISTRAR OF THE RESPONDENT BANK Exhibit P2 TRUE COPY OF THE NOTICE DATED 24/2/2025 ISSUED BY THE 1ST RESPONDENT UNDER SECTION 13(4) OF THE SARFAESI ACT