The court established terms for repayment of loans and suspended coercive actions against the borrower under specific conditions.

JUDGMENT

Petitioner availed credit facilities from the 2^nd respondent bank. One of the loans availed by the petitioner is a mortgage loan while the other is an overdraft facility. On default being committed, proceedings were initiated against the petitioner under the provisions of the Kerala Co-operative Societies Act ,1969, and awards were obtained, determining the amounts payable by the petitioner. These awards were put to execution and sale notice was issued. This prompted the petitioner to approach this Court by filing the above writ petition.

2. When this matter came up for consideration on

23.09.2025, this Court passed the following order:-

‘’Interim order is revived and extended on condition that the petitioner remits ₹5,00,000/- (Rupees Five Lakhs only) within two weeks. ‘’

Learned counsel appearing for the petitioner would submit that the amount of Rs.5 lakhs has been remitted as directed in the order dated 23.09.2025. This is not disputed by the learned counsel appearing for the respondent bank.

3. Learned counsel appearing for the respondent bank submits that, in the overdraft facility, after giving credit to the amount of Rs.5 lakhs paid by the petitioner pursuant to the interim order dated 23.09.2025, Rs.1,61,080/- (Rupees One lakh sixty one thousand and eighty only) is outstanding amount, as on 20.11.2025. It is submitted that, the amount of Rs.5 lakhs paid pursuant to the interim order was adjusted against the dues in the overdraft facility. It is submitted that in the mortgage loan, the outstanding amount, as on 20.11.2025, is Rs.18,46,243/- (Rupees Eighteen lakhs forty six thousand two hundred and forty three only). It is submitted that, the mortgage loan has a tenure upto 26.04.2027. It is submitted that the bank has no objection in some reasonable instalments being permitted to the petitioner to clear the liability in the mortgage loan. It is submitted that, the balance amount due in the overdraft facility may be directed to be paid within a period of one month.

4. Learned counsel appearing for the petitioner submits that since the mortgage loan has a tenure till 26.04.2027, the petitioner may be permitted to clear the liability in 24 instalments. It is pointed out that 17 months of tenure is remaining in the said loan. It is submitted that, the outstanding amount in the overdraft facility may be permitted to be paid within a period of two months.

5. Having heard the learned counsel appearing for the petitioner and the learned counsel appearing for the respondent bank and having regard to the facts and circumstances of the case, the writ petition will stand disposed of, in the following manner:-

(i) The outstanding amount of Rs.18,46,243/- (Rupees Eighteen lakhs forty six thousand two hundred and forty three only) in the mortgage loan shall be repaid in 24 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) The petitioner shall pay the outstanding amount of Rs.1,61,080/- (Rupees One lakh sixty one thousand and eighty only) due in respect of the overdraft facility, within a period of two months from today (20.11.2025), along with any accrued interest, costs and charges;

(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.