JUDGMENT

Dated this the 28th day of November, 2022 The petitioners have availed three loans from the respondent bank. The first one is an ordinary loan and the other loans are stated to be 'Suvida loans'. The learned counsel appearing for the petitioners states that the petitioner may be given sufficient instalmens to clear the liability.

2. The learned counsel appearing for the respondent bank states that as on 31.10.2022, the overdue amount in respect of the ordinary loan is Rs.1,66,252/-, while the overdue amount in respect of the first Suvida loan is Rs.30,787/- and the overdue amount in respect of the other Suvida loan is Rs.33,395/-. It is stated that limited instalments can be grated to clear the liability.

3. The learned counsel appearing for the petitioners states that the petitioners have paid a sum or Rs.65,000/- towards the loan liability on 05.11.2022.

4. Having heard the learned counsel for the petitioners and the learned counsel for the respondent bank, this writ petition will stand disposed of in the following manner:- (i) The petitioners shall pay the overdue amount in respect of all the three loans put together, in ten (10) equal monthly instalments commencing from 15.12.2022.

(ii) The respondent bank shall give credit to the amount of Rs.65,000/- stated to have been paid by the petitioners on 05.11.2022.

(iii) The petitioners shall also pay regular EMIs in respect of all the loans without fail on the due dates.

(iv) The petitioners commit default in payment of any of the instalments or the regular EMIs, it will be open to the respondent bank to continue with the proceedings now initiated against the petitioners.