Kerala High Court
WP(C)/12916/2025 of K.V. KASMIN, Vs THE AUTHORIZED OFFICER, on 28 March 2025
W.P (C) No.12916/2025 -1- IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT THE HONOURABLE MR. JUSTICE GOPINATH P. FRIDAY, THE 28TH DAY OF MARCH 2025 / 7TH CHAITHRA, 1947 WP(C) NO. 12916 OF 2025 PETITIONER/S: K.V. KASMIN, AGED 67 YEARS S/O. VASUDEVAN, RESIDING AT 722/7 KUNNEPARAMBIL HOUSE,
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE GOPINATH P.
FRIDAY, THE 28TH DAY OF MARCH 2025 / 7TH CHAITHRA, 1947
WP(C) NO. 12916 OF 2025
PETITIONER/S:
K.V. KASMIN,
AGED 67 YEARS
S/O. VASUDEVAN, RESIDING AT 722/7 KUNNEPARAMBIL HOUSE, VAIKOM P.O., KOTTAYAM DISTRICT, PIN - 686141
BY ADVS.
T.MADHU
C.R.SARADAMANI
RENJISH S. MENON
ALEENA JOSE
AVANTHIKA R.
KARTHIK KRISHNA M.
RESPONDENT/S:
THE AUTHORIZED OFFICER,
IDBI BANK LTD., RETAIL ASSET CENTRE, 2ND FLOOR, IDBI
BUILDING, PANAMPALLY NAGAR, ERNAKULAM, PIN - 682036
IDBI BANK LTD.,
REPRESENTED BY ITS MANAGER HAVING ITS OFFICE AT IDBI
BUILDING, NEAR PASSPORT OFFICE PANAMPILLY NAGAR, KOCHI, PIN - 682036
OTHER PRESENT:
SRI. K.P.SUJESH KUMAR, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
28.03.2025, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
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J U D G M E N T
The petitioner availed a Housing loan from the respondent bank. On default being committed, proceedings have been initiated against the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 prompting the petitioner to approach this court by filing the above writ petition.
2. The learned counsel appearing for the petitioner would submit that the petitioner may be permitted to clear the entire liability in installments.
3. The learned counsel appearing for the respondent bank submits that though the loan account in question is a Housing loan, the loan cannot be regularised as the bank has recalled the loan and a suit has been filed for recovery as C.S No.75/2024 before the Commercial Court, Ernakulam. It is submitted that the outstanding amount due from the petitioner as on 28-03- 2025 is Rs.7,80,757/- and the bank has no objection in granting some reasonable instalments to the petitioner to clear the entire liability.
4. Having heard the learned counsel for the petitioner and the learned Standing counsel appearing for the respondent bank and having regard to the facts and circumstances of the case and considering the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount in installments.
5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire amount of Rs.7,80,757/- along with interest, bank charges and costs from the petitioner in the following manner:
(i) The outstanding amount of Rs.7,80,757/- together with any accrued interest, bank charges and costs shall be repaid in ten
(10) equated monthly instalments;
(ii) The first instalment shall be paid on or before 30-04-2025 and subsequent instalments shall be paid on or before last working day of each succeeding month;
(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 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 AMG
APPENDIX OF WP(C) 12916/2025 PETITIONER EXHIBITS Exhibit P1 THE TRUE COPY OF THE JUDGMENT DATED 25/08/2017 IN WP (C) NO. 27870/2017 ON THE FILES OF THIS HON’BLE COURT Exhibit P2 THE TRUE COPY OF THE DEMAND NOTICE DATED 07/02/2024 ISSUED BY THE FIRST RESPONDENT Exhibit P3 THE TRUE COPY OF THE LETTER DATED 29/08/2024 CONFIRMING THE SETTLEMENT ISSUED BY THE FIRST RESPONDENT Exhibit P4 THE TRUE COPY OF THE PLAINT IN C.S NO. 75/2024 ON THE FILES OF THE FIRST PRINCIPAL SUB COURT, ERNAKULAM