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CDJ 2026 Ker HC 528 print Preview print print
Court : High Court of Kerala
Case No : WP(C) No. 5771 of 2026
Judges: THE HONOURABLE MR. JUSTICE P. V. BALAKRISHNAN
Parties : T. Ranjith Versus Axis Bank Ltd, Represented By Its Authorized Officer, Kozhikode Branch, Kozhikode
Appearing Advocates : For the Petitioner: M. Muhammed Shafi, T. Rasini, Hiba Shamar, Aleena Vinoy, Advocates. For the Respondent: Madhu Radhakrishnan, Deepak Ashok Kumar, Advocates.
Date of Judgment : 06-04-2026
Head Note :-
Security Interest Act, 2002 -

Comparative Citation:
2026 KER 30082,
Judgment :-

1. It is aggrieved by the coercive action taken by the respondent 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 petitioner.

2. Heard the learned counsel for the petitioner and the learned Standing Counsel for the respondent.

3. The learned counsel for the respondent submitted that the bank has no objections in permitting the petitioner 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 27.03.2026, is Rs.4,64,181/- (Rupees four lakhs sixty four thousand one hundred and eighty one only).

4. Hence, considering the submissions made by the learned counsel for the respondent and the facts and circumstances of this case, I am of the view that the petitioner can be granted an opportunity to clear the overdue amount of Rs.4,64,181/- (Rupees four lakhs sixty four thousand one hundred and eighty one only) with interest, in installments and regularise the account subject to terms.

                  Accordingly, this writ petition is allowed as follows;

                  (i) The petitioner shall remit a sum of Rs.1,00,000/- (Rupees one lakh only) on or before 30.04.2026 to the bank.

                  (ii) Thereafter, the petitioner shall remit the balance overdue amount with interest in 10 equal monthly installments, starting from May, 2026 and such payments shall be made on or before the end of every month.

                  (iii) The petitioner shall also continue to pay the regular EMIs/Installments along with the installments as directed afore.

                  (iv) If the petitioner complies with the above directions, the respondent shall regularise the loan account and in case of failure to pay any of the installments as ordered afore, the bank will be at liberty to continue with the coercive steps already taken.
 
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