The court allows repayment of debts in installments to balance creditor rights and debtor opportunities post-confirmation of property sale.

JUDGMENT

Petitioner availed credit facilities from the the 2^nd respondent bank. On default being committed, proceedings were initiated against the petitioner under the provisions of the Kerala State Co-operative Agricultural and Rural Development Bank Act , 1984 leading to issuance to Exhibits P1 to P3 notices. This prompted the petitioner to approach this Court by filing the above writ petition.

2. Learned counsel appearing for the petitioner would submit that the petitioner is only seeking the liberty of repaying the entire amount in some instalments.

3. Learned counsel appearing for the respondent bank submits that the sale of the property of petitioner was conducted and the sale has also been confirmed by the Joint Registrar on 27.03.2025. However, it is submitted that, since the sale was confirmed in favour of the bank, if the petitioner clears the entire liability within a short time, the bank is willing to reconvey the property to the petitioner. It is submitted that, the outstanding amount, as on 27.03.2025, is Rs.15,51,807/- (Rupees Fifteen lakhs fifty one thousand eight hundred and seven only).

4. Having regard to the facts and circumstances of the case and the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount in eighteen instalments.

5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.15,51,807/- (Rupees Fifteen lakhs fifty one thousand eight hundred and seven only) along with accrued interest, costs and bank charges from the petitioner in the following manner:

(i) The outstanding amount of Rs.15,51,807/- (Rupees Fifteen lakhs fifty one thousand eight hundred and seven only) shall be repaid in eighteen equated monthly instalments along with any accrued interest, costs and charges;

(ii) The first instalment shall be paid on or before 20.12.2025 and the subsequent instalments shall be paid on or before the 20^th day of the succeeding months;

(iii) If the petitioner clears the entire liability as aforesaid, the sale shall be cancelled and the property shall be reconveyed to the petitioner. Any expenses meet by the petitioner in connection with such reconveyance, shall also be borne by the petitioner;

(iv) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law;

(v) In order to enable the petitioner to repay the entire amounts as above, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.