Kerala High Court
WP(C)/9782/2025 of C.J. MATHEW, Vs THE AUTHORIZED OFFICER, on 7 April 2025
OF 2025 1 2025:KER:30912 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. MONDAY, THE 7TH DAY OF APRIL 2025 / 17TH CHAITHRA, 1947 WP(C) NO. 9782 OF 2025 PETITIONER: CJ MATHEW, AGED 52 YEARS S/O JOHN, RESIDING AT CHENNELIKUNNEL, THATTAMUKKU, MAYAM P.O
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
MONDAY, THE 7TH DAY OF APRIL 2025 / 17TH CHAITHRA, 1947
WP(C) NO. 9782 OF 2025
PETITIONER:
CJ MATHEW,
AGED 52 YEARS
S/O JOHN, RESIDING AT CHENNELIKUNNEL, THATTAMUKKU, MAYAM P.O AMBOORI, MAYAM, THIRUVNANTHAPURAM KERALA, PIN
- 695505
BY ADV JOMY K. JOSE
RESPONDENTS:
THE AUTHORIZED OFFICER,
THE FEDERAL BANK LIMITED, LCRD THIRUVANNATHAPURAM
DIVISION, 4TH FLOOR FEDRAL TOWERS, STATUE
THRUVANANTHAPURAM, PIN - 695001
THE FEDERAL BANK LIMITED,
REPRESENTED BY ITS THE BRANCH MANAGER,MANNUMKARA
JUNCTOIN, KATTAKADA, KALLIKADU,THIRUVANANTHAPURAM, PIN
- 695572
BY ADVS.
Sunil Shankar A
VIDYA GANGADHARAN(K/000424/2020)
OTHER PRESENT:
SRI. SUNIL SHANKER
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
07.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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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. The learned counsel appearing for the respondent bank submits that the outstanding amount, is more than 2.5 crores and if this court is inclined to grant any installments to the petitioner, the number of installments may be limited and the petitioner may be required to pay a substantial amount as the first installment.
4. The learned counsel appearing for the petitioner submits that the petitioner may be permitted to clear the entire liability in installemnts.
5. 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.25,00,000/- shall be paid on or before 30.04.2025 and the balance amount shall be paid in 6 equal monthly instalments, the first of which shall be paid on or before 30.05.2025 and the subsequent instalments shall be paid on the last working day of every succeeding months.
6. Accordingly, there will be a direction to the respondent bank to accept repayment of the outstanding amount of Rs.2,51,71,270.26/- along with accrued interest, costs and charges from the petitioners in the following manner:
(i) The petitioner shall pay a sum of Rs.25,00,000/- on or before 30.04.2025. The balance outstanding amount along with any accrued interest, costs and charges shall be repaid in 6 equal monthly instalments;
(ii) The first instalment shall be paid on or before 30.05.2025 and the subsequent instalments shall be paid on 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
APPENDIX OF WP(C) 9782/2025 PETITIONER EXHIBITS Exhibit P1 A TRUE COPY OF THE POSSESSION NOTICE DATED 15/01/2025 ISSUED BY THE 1ST RESPONDENT