The court reinforced payment terms following default under the SARFAESI Act, ensuring compliance for loan regularization.

J U D G M E N T

(Dated this the 20^th day of November, 2025)

The petitioner availed a loan from the respondent-Bank by mortgaging his property. Upon default in repayment of the loan, the respondent Bank issued notice under Section 13(4) of the SARFAESI Act , 2002, dated 09.11.2023.

2. On 30.11.2023, an interim order was passed by this Court staying all further proceedings pursuant to Ext.P3 for six weeks on condition that the petitioner remits an amount of Rs.2,00,000/- within one month. It is submitted that the said interim order has been complied with.

3. The learned Standing Counsel for the Bank, on instructions, submits that the overdue amount as on date is Rs.14,01,200/-. The Bank has no objection in regularizing the loan account.

4. Having heard the learned counsel on both sides, and taking note of the fact that the Bank is proposing to take physical possession of the property and since the Bank has no objection in regularizing the loan account, I deem it appropriate to dispose of this writ petition with the following directions:

a) The petitioner shall remit the overdue amount of Rs.14,01,200/-. (Rupees Fourteen lakhs one thousand two hundred only) together with any accrued interest, cost and allied charges, in fifteen (15) equated monthly installments, starting from 15.12.2025 and the subsequent installments shall be paid on or before 15^th of every succeeding months.

b) The petitioner shall continue to pay the regular EMIs/installments along with the installments as directed above.

c) In the event of default of any one installment, the respondent Bank shall be entitled to proceed in accordance with law.

d) All coercive proceedings shall be kept in abeyance to enable the petitioner to repay the entire amount as directed above.

Sd/-