Kerala High Court
WP(C)/9430/2025 of ARUN SEKHARAN NAIR, Vs BANK OF INDIA, on 4 April 2025
W.P.(C)No.9430 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. 9430 OF 2025 PETITIONER/S: ARUN SEKHARAN NAIR, AGED 47 YEARS KARIPURATHU HOUSE, VELLOORJUNNAM, MARKET 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. 9430 OF 2025
PETITIONER/S:
ARUN SEKHARAN NAIR,
AGED 47 YEARS
KARIPURATHU HOUSE, VELLOORJUNNAM, MARKET P O, MUVATTUPUZHA, PIN - 686673
BY ADV L.RAM MOHAN
RESPONDENT/S:
BANK OF INDIA,
VALAKOM BRANCH,ERNAKULAM DISTRICT, REPRESENTED BY
ITS MANAGER, PIN - 682316
THE AUTHORISED OFFICER,
BANK OF INDIA,ERNAKULAM ZONAL OFFICE KALOOR
TOWERS,KALOOR KADAVANTHRA ROAD,ERNAKULAM, PIN - 682017
BY ADV CHANDINI G.NAIR
OTHER PRESENT:
SMT. CHANDINI G.NAIR, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION
ON 04.04.2025, THE COURT ON THE SAME DAY DELIVERED THE
FOLLOWING:
Citations and Judicial Treatment
Cited by
0
Decisions in the index citing it
Cites
0
Decisions referred to
In this index
0
Of the decisions it cites
Overruled / Questioned
0
No negative treatment found
Loading the citing and cited decisions…
This judgment in the centre: on the left the decisions it cites, on the right the decisions citing it. Colour is the treatment; choose a decision to open it.
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 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. 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.68,000/-. 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 accounts.
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 five (5) 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.68,000/- 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.68,000/-. together with any accrued interest, bank charges and costs in five 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. The writ petition is disposed of as above.
Sd/-
GOPINATH P. JUDGE Scl/
APPENDIX OF WP(C) 9430/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE DEMAND NOTICE DATED 10/01/25