Kerala High Court
WP(C)/12502/2025 of SHIMI MOHAN, Vs KOTTARAKKARA URBAN CO-OPERATIVE BANK LIMITED NO. 1909, on 3 April 2025
OF 2025 1 2025:KER:29559 IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. THURSDAY, THE 3RD DAY OF APRIL 2025 / 13TH CHAITHRA, 1947 WP(C) NO. 12502 OF 2025 PETITIONER: SHIMI MOHAN, AGED 35 YEARS C/O. SANAL KUMAR, SHYMA BHAVAN, KARUVELIL P.O., EZHUKONE,
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
THURSDAY, THE 3RD DAY OF APRIL 2025 / 13TH CHAITHRA, 1947
WP(C) NO. 12502 OF 2025
PETITIONER:
SHIMI MOHAN,
AGED 35 YEARS
C/O. SANAL KUMAR, SHYMA BHAVAN, KARUVELIL P.O., EZHUKONE, KOTTARAKARA, KOLLAM, PIN - 691505
BY ADVS.
SREERAJ M.D.
NEELANJANA NAIR
RESPONDENT:
KOTTARAKKARA URBAN CO-OPERATIVE BANK LIMITED NO. 1909, REPRESENTED BY SPECIAL SALE OFFICER, KOTTARAKKARA CO- OPERATIVE URBAN BANK, GROUP JOINT REGISTRAR GENERAL
OFFICE, OYUR-KOTTARAKARA ROAD, KOTTARAKKARA, KOLLAM, PIN - 691506
BY ADV Swapna Vijayan
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
03.04.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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JUDGMENT
The petitioner has approached this Court challenging proceedings under the SARFAESI Act which have been initiated by the respondent 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 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 of a housing loan and the total overdue amount as on 03.04.2025 is Rs.3,12,916/-. 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 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 total overdue on condition that Rs.50,000/- shall be paid on or before 30.04.2025 and the balance amount shall be paid in 10 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 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.3,12,916/- along with any accrued interest, costs and charges from the petitioner and regularise the loan account of the petitioner in the following manner:
i. The petitioner shall pay a sum of Rs.50,000/- on or before 30.04.2025; the balance overdue amount along with any accrued interest, costs and charges shall be repaid in 10 equal monthly instalments;
ii. The first instalment shall be paid on or before 30.05.2025 and the subsequent instalments shall be paid on or before the last working day of every succeeding months;
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 Nsd
APPENDIX OF WP(C) 12502/2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE ISSUED TO THE PETITIONER UNDER SARFAESI ACT DATED 10.03.2025 Exhibit P2 TRUE COPY OF SALE NOTICE DATED 20.12.2024 ISSUED BY THE RESPONDENT