Court directed repayment of overdue loan installments while abeying coercive actions.

JUDGMENT

(Dated this the 25^th day of November, 2025)

The petitioner availed a loan from the respondent Bank for an amount of 25 lakhs on 29.06.2024 for construction of a house. Since there was default in repayment, the respondent Bank initiated proceedings under the SARFAESI Act, 2002 , and issued notice under Section 13(4) dated 04.10.2025 for taking physical possession of the secured assets. The petitioner filed this writ petition to clear the overdue amount in installments.

2. On 21.10.2025, an interim order was passed by this Court deferring the coercive steps against the petitioner on condition that the petitioner remits an amount of Rs.75,000/- 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 balance overdue amount as on date is Rs.2,30,000/-. 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.2,30,000/- (Rupees Two lakhs thirty thousand only) together with any accrued interest, cost and allied charges, in ten (10) 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/-