IN THE HIGH COURT OF KERALA AT ERNAKULAM
BECHU KURIAN THOMAS, J
JAYAKRISHNAN K – Appellant
Versus
THE KERALA STATE FINANCIAL ENTERPRISES LIMITED. – Respondent
| Table of Content |
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| 1. the court allows repayment of loan in instalments. (Para 1 , 2) |
JUDGMENT
Petitioner has availed a loan from the 1st respondent for the purpose of a business enterprise. Since there was default in repayment, the 1st respondent has initiated revenue recovery proceedings as per Ext.P2. Although the petitioner challenges Ext.P2, during the course of arguments, the learned counsel confined the relief for an opportunity to repay the amount in instalments.
2.The learned Standing counsel for respondents 1 and 2 conceded that the amount due under Ext. P2 can be repaid in instalments, provided no default is committed during such repayment. It was also submitted that the total amount due from the petitioner as on date is Rs.11,59,921/-.
In view of the above, this writ petition is disposed of, with a direction to respondents 1 and 2 to accept repayment of the amount due from the petitioner, sought to be recovered through Ext.P2, in 15 equated monthly instalments, the first of which shall be paid on or before 08.02.2026 and the remaining instalments to be paid on 8th of every succeeding month. It is clarified that in the event of default of any two instalments, the respondents
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