Kerala High Court Directs Deferred Repayment Plan in Loan Recovery Case

Kerala Remedies Vs Union of India (Kerala High Court) This case involves Kerala Remedies contesting coercive proceedings initiated by DCB Bank for the recovery of a financial advance under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The petitioners received a business loan of ₹58 lakhs in 2019 but faced difficulties in repayment due to factors like floods and the COVID-19 pandemic. The petitioners requested the bank to allow them to repay the overdue amounts in easy monthly instalments, but the bank proceeded with coercive measure...