A debtor can negotiate a payment plan with creditors, allowing temporary relief from recovery actions.

J U D G M E N T

The petitioner availed credit facilities from the respondent bank. On default being committed recovery proceedings were initiated against the petitioner. The petitioner approached the Agriculturists Debt Relief Commission seeking debt relief in respect of the loans availed by the petitioner from the 2^nd respondent bank.

2. When this matter is taken up for consideration today, it is the submission of the learned counsel for the respondent bank that though actual amount due from the petitioner is Rs.12,56,375/- by order of the Debt Relief Commission, the petitioner is required to pay a sum of Rs.7,10,000/-, provided the amount is paid on or before 15-03-2026. The learned counsel for the petitioner submits that the petitioner will pay that amount before 15-02- 2026 and further recovery proceedings may therefore be kept in abeyance till that date.

3. The learned counsel for the respondent bank submits that the Debt Relief Commission directed that an amount of Rs.2,00,000/- has to be paid to the bank by the Government and the bank may be permitted to seek such payment from the Government.

4. Having heard the learned counsel for the petitioner and the learned counsel appearing for the respondent bank, this writ petition will stand disposed of directing that the recovery now initiated against the petitioner shall be kept in abeyance till 15-03-2026 to enable the petitioner to clear the liability by remitting a sum of Rs.7,10,000/- on or before that date. If the petitioner pays the said amount by 15-03-2026 the liability arising out of the loans availed by the petitioner from the respondent bank shall be treated as closed for all purposes. If the petitioner fails to pay the amount within the aforesaid date it will be open to the respondent bank to continue with the proceedings. It will also be open to the 2^nd respondent bank to approach the Government for payment of amount directed to be paid by the Government in terms of the proceedings before the Debt Relief Commission.

Writ petition is disposed of accordingly.