WP(C)/6883/2025 of JOICE ANTONY, Vs THE AUTHORISED OFFICER, MATTANCHERRY MAHAJANIK CO OPERATIVE URBAN BANK LTD NO.665, on 7 April 2025

JUDGMENT

The petitioner has approached this Court challenging proceedings initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 for recovery of the amounts due upon a housing loan availed by 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. The learned counsel appearing for the respondent bank submits that the petitioner is clearly guilty of suppression of material facts. It is submitted that after the filing of W.P.(C) No.25071 of 2023 by the husband of the petitioner, yet another writ petition as W.P.(C) No.28503 of 2024 was filed by the husband of the petitioner which was dismissed on the ground that he had failed to disclose the filing of W.P.(C) No.25071 of 2023. It is submitted that in the present writ petition, though the filing of W.P.(C) No.25071 of 2023 is disclosed, the filing of W.P.(C) No.28503 of 2024 is not disclosed. It is submitted that notwithstanding the above, purely as a matter of indulgence, the bank is wiling to accept the repayment of the overdue amount in instalments also taking into account the fact that the petitioner has complied with the interim order dated 20.02.2025 by remitting a sum of Rs.2 lakhs. It is submitted that after giving credit to the amount of Rs.2,00,000/-, the overdue amount is Rs.8,98,307/-.

4. Having heard the learned counsel for the petitioner and the learned Standing Counsel for the respondent Bank and having regard to the facts and circumstances of the case and the submissions made as recorded above and also taking into account the fact that the petitioner has undertaken to clear off the overdue amount along with regular EMIs/instalments, I am of the view that the petitioner can be granted an opportunity to clear off the overdue amount in 8 (eight) equal monthly instalments first of which shall be paid on or before 30.04.2025 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.8,98,307/- along with interest, bank charges and costs 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.8,98,307/- together with any accrued interest, bank charges and costs in 8 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 last working day of each succeeding month;

(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. It is made clear that this order is being passed on consent and on account of the extremely fair stand taken by the learned counsel for the respondent bank. The writ petition is disposed of as above.

Sd/-

GOPINATH P. JUDGE Scl/

APPENDIX OF WP(C) 6883/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE JUDGEMENT IN WP(C) NO.25071/2023 DATED 10.11.2023 OF THE HONLE HIGH COURT OF KERALA Exhibit P2 TRUE COPY OF THE MEDICAL CERTIFICATE ISSUED BY DR BOBBY MARAMATTOM, LOURDES HOSPITAL, ERNAKULAM DATED 08.07.2024 Exhibit P3 TRUE COPY OF THE SALE NOTICE ISSUED BY THE 1ST RESPONDENT DATED 03.02.2025