Kerala High Court
WP(C)/9805/2025 of KAKKATT RADHA, Vs THE KERALA STATE CO-OPERATIVE BANK LTD. (KERALA BANK), KANNUR REGIONAL OFFICE, on 4 April 2025
W.P.(C)No.9805 OF 2025 1 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 4TH DAY OF APRIL 2025 / 14TH CHAITHRA, 1947 WP(C) NO. 9805 OF 2025 PETITIONER/S: KAKKATT RADHA, AGED 42 YEARS D/O. P. V. KUNHAPPAN, KAKKATT HOUSE, UDAYANKUNNU, P.O.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
FRIDAY, THE 4TH DAY OF APRIL 2025 / 14TH CHAITHRA, 1947
WP(C) NO. 9805 OF 2025
PETITIONER/S:
KAKKATT RADHA,
AGED 42 YEARS
D/O. P. V. KUNHAPPAN, KAKKATT HOUSE, UDAYANKUNNU, P.O. PERUNTHATTA, PAYYANNUR TALUK, KANNUR DISTRICT, PIN - 670353
BY ADV T.MANOJ KUMAR
RESPONDENT/S:
THE KERALA STATE CO-OPERATIVE BANK LTD. (KERALA
BANK), KANNUR REGIONAL OFFICE,
NEAR HEAD POST OFFICE, KANNUR, REP. BY ITS AUTHORIZED
OFFICER, PIN - 670001
KERALA BANK, MATHAMANGALAM BRANCH,
PAYYANNUR, KANNUR DISTRICT, REP. BY ITS SECRETARY, PIN - 670306
BY ADV M.SASINDRAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
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 credit facility 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. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount as on 04.04.2025 is Rs.11,06,984/-. 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 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 twelve (12) equal monthly instalments first of which shall be paid on or before 15.05.2025 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.11,06,984/- 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.11,06,984/- together with any accrued interest, bank charges and costs in twelve equated monthly instalments;
(ii) The first instalment shall be paid on or before 15.05.2025 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. The writ petition is disposed of as above.
Sd/-
GOPINATH P. JUDGE Scl/
APPENDIX OF WP(C) 9805/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE REGISTERED NOTICE DATED 25-01-2022 SENT BY RESPONDENT NO.1 TO PETITIONER. Exhibit P2 THE TRUE COPY OF NOTICE DATED NIL GIVEN BY ADVOCATE COMMISSIONER TO THE PETITIONER Exhibit P3 THE TRUE COPY OF LETTER DATED 29-08-2024 SEND BY PETITIONER TO THE MINISTER OF CO- OPERATION FOR A PRAYER TO STAY THE PROCEEDINGS AND WAIVE THE INTEREST COMPLETELY Exhibit P4 THE TRUE COPY OF LETTER DATED 07-09-2024 SENT BY RESPONDENT NO.1 TO PETITIONER