The petitioners took a housing loan of Rs.11 lakhs from the respondent Bank in 2019. The loan tenure for repayment, along with interest, is ten years in equal monthly instalments.

2. The petitioners committed default in repaying the loan amount in terms of the loan agreement. Therefore, the Bank, after classifying the petitioners’ loan account as NPA, proceeded against the petitioners under the provisions of the SARFAESI Act and the Rules made thereunder.

3. The learned Counsel for the respondent Bank, on instructions, submits that the overdue amount is Rs.4,18,832/- and the outstanding amount comes to Rs.14,73,707/-. If the petitioners make a substantial upfront payment along with one regular EMI and the remaining overdue amount in a few instalments as this Court may direct along with regular instalments, the Bank shall regularize the loan account of the petitioners for making further payment in terms of the loan agreement and the Bank shall not proceed against the petitioners under the provisions of the SARFAESI Act and the Rules made thereunder.

4. Considering the said stand of the learned Counsel for the respondent Bank, the present writ petition is disposed o