Courts may mandate installment payments for debts due when immediate payment is unfeasible due to the debtor's financial distress.

JUDGMENT

The petitioner has made some deposits with the

4^th respondent bank. According to the petitioner, though the deposits have matured, the amounts are not being paid to the petitioner despite requests.

2. The learned counsel appearing for the

4^th respondent bank submits that the 4^th respondent is in dire financial straits and is not in a position to pay off the entire amount due to the petitioner. It is submitted that the 4^th respondent bank has initiated recovery proceedings against persons from whom money is owed to the bank, and once the financial condition of the 4^th respondent bank improves, the bank will clear the liability to the petitioner.

3. The learned counsel appearing for the petitioner submits that the 4^th respondent bank may be directed to pay off the amounts due to the petitioner in some instalments.

4. Having heard the learned counsel appearing for the petitioner and the learned counsel appearing for the 4^th respondent bank and considering the fact that the amount of deposits claimed by the petitioner is only a sum of Rs.6,02,144/-, I am of the opinion that the writ petition can be disposed of in the following manner.

i. The amounts payable to the petitioner in terms of the fixed deposits maintained by the petitioner with the 4^th respondent bank shall be disbursed in 24 equal monthly instalments together with any interest;

ii. The first installment shall be paid on or before 05-12-2025. The subsequent installments shall be paid on or before the 5^th day of the succeeding months;

iii.The interest shall be calculated only on the reducing balance;

iv.The petitioner shall issue receipts for every payment made to the petitioner in terms of the directions issued in this judgment.

Writ petition is disposed of as above.