Kerala High Court
Shine Joseph vs Kerala State Co-Operative Bank (Kerala ... on 10 March, 2026
WP(C) NO. 9345 OF 2026
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IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR.JUSTICE P. V. BALAKRISHNAN
TUESDAY, THE 10TH DAY OF MARCH 2026 / 19TH PHALGUNA, 1947
WP(C) NO. 9345 OF 2026
PETITIONER/S:
1 SHINE JOSEPH,
AGED 45 YEARS
S/O. Y JOSEPH,SHINE NIVAS, VENGA PO, SASTHAMCOTTA,
KOLLAM DISTRICT, PIN - 690521
2 SWAPNA SHINE,
AGED 42 YEARS
W/O SHINE JOSEPH, SHINE NIVAS,VENGA PO, SASTHANCOTTA,
KOLLAM DISTRICT, PIN - 690521
BY ADVS.
SHRI.ROJIN DEVASSY
SMT.P.JAYA
SHRI.MUHAMMED KHAISE J.
SHRI.ANIL KUMAR P.T.
SMT. HAN FATHIMA S.
RESPONDENT/S:
1 KERALA STATE CO-OPERATIVE BANK (KERALA BANK),
REPRESENTED BY ITS AUTHORIZED OFFICER, HAVING ITS HEAD
OFFICE, CO-BANK TOWERS, P.B.NO.6515, VIKAS BHAVAN P.O.,
PALAYAM, THIRUVANANTHAPURAM DISTRICT, KERALA, PIN -
695033
2 THE KERALA STATE CO-OPERATIVE BANK (KERALA BANK),
MYNAGAPPALLY BRANCH, MYNAGAPPALLY P.0, KOLLOM DISTRICT,
WP(C) NO. 9345 OF 2026
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REPRESENTED BY ITS AUTHORISED OFFICER, PIN - 690519
3 THE DISTRICT COLLECTOR,
DISTRICT COLLECTOR OFFICE KOLLAM, 1ST FLOOR, KOLLAM
CUTCHERY, KOLLAM DISTRICT, KERALA, PIN - 691013
4 THE VILLAGE OFFICER,
VILLAGE OFFICE MYNAGAPPALLY, PATANAYARKULANGARA-
SASTHAMKOTTA ROAD, MYNAGAPPALLY P.O., KOLLAM DISTRICT,
PIN - 690519
OTHER PRESENT:
SRI. P. C. SASIDHARAN, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
10.03.2026, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C) NO. 9345 OF 2026
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P.V. BALAKRISHNAN, J.
..............................................................
W.P.(C)No. 9345 of 2026
............................................................
Dated this the 10th day of March 2026
JUDGMENT
It is aggrieved by the coercive steps taken by the bank under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the 'SARFAESI Act' for short), this writ petition has been preferred by the petitioners.
2. Heard the learned counsel for the petitioners and the learned Standing Counsel for the respondent bank. 3. The learned counsel for the respondent Bank submitted that the bank has no objections in permitting the petitioners to clear the overdues with interest, by way of installments and regularise the loan account since, the same is only beneficial to the bank. He also submitted that the overdue amount as on 09.03.2026 is Rs.1,96,676/- (Rupees One Lakh Ninety Six Thousand Six Hundred and Seventy Six only).
WP(C) NO. 9345 OF 2026 4 2026:KER:21320 4. Hence, considering the submissions made by the learned counsel for the respondent bank and the facts and circumstances of this case, I am of the view that the petitioners can be granted an opportunity to clear the overdue amount of Rs.1,96,676/- (Rupees One Lakh Ninety Six Thousand Six Hundred and Seventy Six only) with interest, in installments and regularise the account subject to terms. Accordingly, this writ petition is allowed as follows;
(i) The petitioners shall remit a sum of Rs.50,000/- (Rupees fifty thousand only) on or before 31st March, 2026 to the bank.
(ii) Thereafter, the petitioners shall remit the balance overdue amount with interest, in six (6) equal monthly installments starting from April 2026 and such payment shall be made on or before 25th of every month.
(iii) The petitioners shall also continue to pay the regular EMIs/Installments along with the installments as directed afore.
(iv) If the petitioners comply with the above directions, the respondents shall regularise the loan account and in case of WP(C) NO. 9345 OF 2026 5 2026:KER:21320 failure to pay any of the installments as ordered afore, the bank will be at liberty to continue with the coercive steps already taken.
Sd/-
P.V. BALAKRISHNAN,
JUDGE
RMV
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APPENDIX OF WP(C) NO. 9345 OF 2026
PETITIONER EXHIBITS
Exhibit P1 A TRUE COPY OF THE SECURITY INTEREST
ENFORCEMENT NOTICE ISSUED UNDER SECTION 13(2) OF THE SARFAESI ACT DATED 07.04.2025 Exhibit P2 A TRUE COPY OF THE NOTICE ISSUED BY THE ADVOCATE COMMISSIONER DATED 17-02-2026