JUDGMENT

The petitioner was a guarantor to a Chitty loan transaction conducted by the 4th respondent at its Shornur Branch. The subscriber was Mr. Anil M.R. Since the subscriber absconded, proceedings were initiated against the petitioner being the guarantor, to recover the amounts due to the 4th respondent.

2.The learned Standing counsel who took notice on behalf of respondents 3 and 4, submitted that the total amount now due under the Chitty of Shri. Anil M.R is Rs.8,03,504/-.

3.I have heard the learned counsel for the petitioner as well as the learned Standing Counsel for respondents 3 and 4.

4.During the course of arguments, petitioner confined his prayer to an opportunity for repayment of the amount due to respondents 3 and 4 in instalments.

5. The learned Standing counsel for respondents 3 and 4, submitted that they are willing to accept repayment in instalments and defer the recovery proceedings.

In view of the above, this writ petition is disposed of, directing respondents 3 and 4 to accept repayment of the total amount of Rs.8,03,504/- due under the Chitty transaction of Shri Anil M.R from the petitioner in 18 equated monthly instalments, the first of which shall commence on 08