Kerala High Court
Arjun K T vs The South Indian Bank Ltd on 6 October, 2025
WP(C) NO. 36415 OF 2025 1 2025:KER:73262
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE MOHAMMED NIAS C.P.
MONDAY, THE 6th DAY OF OCTOBER 2025 / 14TH ASWINA, 1947
WP(C) NO. 36415 OF 2025
PETITIONERS:
1 ARJUN K T, AGED 30 YEARS,
S/O.SATHEESH KUMAR K T, SATHYA NIVAS HOUSE,
VENGALI, ERNAHIKKAL, P.O, ELATHUR,KOZHIKODE,
KERALA, PIN - 673303
2 JANCY E K, AGED 31 YEARS,
W/O ARJUN K T, ELANGOORAKANDI MEETHAL,
PURAMERI,KOZHIKODE, KERALA, PIN - 673503
BY ADV SHRI.SABIKH MOHAMMED V.S
RESPONDENTS:
1 THE SOUTH INDIAN BANK LTD,
REPRESENTED BY REGIONAL MANAGER, REGIONAL OFFICE,
KOZHIKODE, DOOR NO 7/1164, WARD NO 7, HAPPY
TOWERS, VAIKOM MUHAMMED BASHEER ROAD, MANANCHIRA,
KOZHIKODE, PIN - 673001
2 THE AUTHORIZED OFFICER,
COLLECTION AND RECOVERY DEPARTMENT, 5TH FLOOR ,
SIB ADMINISTRATIVE BUILDING II, RAJAGIRI VALLEY,
NEAR INFOPARK EXPRESS WAY, KAKKANAD, ERNAKULAM,
PIN - 682039
3 THE BRANCH MANAGER,
THE SOUTH INDIAN BANK LTD, MAVOOR ROAD BRANCH,
NO. 5/3410 H4, GALLERIA TRADE CENTRE, MAVOOR
WP(C) NO. 36415 OF 2025 2 2025:KER:73262
ROAD, ARAYIDATHUPALAM, NEAR MARKAZ COMPLEX,
KOZHIKODE, KERALA, PIN - 673004
SRI. AUGUSTINE AREEKATTEL, SC.
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 06.10.2025, THE COURT ON THE SAME DAY
DELIVERED THE FOLLOWING:
WP(C) NO. 36415 OF 2025 3 2025:KER:73262
JUDGMENT
The petitioners, defaulted borrowers from the respondent bank, are challenging proceedings under the SARFAESI Act initiated by the respondent Bank for recovery of the amounts due.
2. During the hearing, the petitioners confined the relief to an opportunity to repay the overdue amount in instalments and to obtain regularisation of the loan account.
3. It was submitted on behalf of the respondent Bank that the petitioners committed default in repayment of the housing loan, and the total overdue amount as on 06.10.2025 is Rs.4,12,347/- (Rupees four lakhs twelve thousand three hundred and forty seven only). It was 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. This WP(C) NO. 36415 OF 2025 4 2025:KER:73262 is recorded.
4. Given the above, the petitioners can be granted an opportunity to repay the total overdue amount on the following conditions, and if they are met, to have the loan account regularised.
(i) The petitioners shall pay a sum of Rs.1,00,000/- (Rupees one lakh only) on or before 05.11.2025.
(ii) The balance overdue, along with any accrued interest, costs, and charges, if any, shall be paid in 5 equal monthly instalments starting from 5th December 2025, and subsequent instalments shall be paid on or before the 5 th day of every succeeding month.
(iii) Petitioners shall continue to pay the regular EMIs / 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;
WP(C) NO. 36415 OF 2025 5 2025:KER:73262
(v) All coercive proceedings shall be kept in abeyance to enable the petitioners to repay the entire amount directed above.
The writ petition is disposed of as above.
Sd/-
MOHAMMED NIAS C.P. JUDGE DMR/-
WP(C) NO. 36415 OF 2025 6 2025:KER:73262 APPENDIX OF WP(C) 36415/2025 PETITIONERS' EXHIBITS Exhibit P1 THE COPY OF THE NOTICE ISSUED BY THE 1ST RESPONDENT DATED 26.03.2025 Exhibit P2 TTHE COPY OF THE SHOW CAUSE NOTICE DATED 07.08.2025 BY THE 2ND RESPONDENT Exhibit P3 THE COPY OF THE REPLY NOTICE SENT BY THE 1ST PETITIONER DATED 29.08.2025 // TRUE COPY // P.A. TO JUDGE