Court allows defaulting borrowers to repay loan in installments while suspending coercive measures.

JUDGMENT

(Dated this the 15^th day of January, 2026)

The petitioners availed a loan from the respondent bank. The petitioners defaulted on the loan repayment of installments due to the financial crisis. Subsequently, the respondent bank initiated proceedings under the SARFAESI Act , 2002. Aggrieved by these proceedings, the petitioners approached this Court.

2. The learned Standing Counsel for the respondents, on instructions, submits that the total outstanding amount is Rs.6,98,869/-. The respondents are willing to permit the petitioners to pay off the outstanding amount in equated monthly installments.

4. Having heard the learned counsel on both sides, and the fact that the respondents have no objection in granting installment facility to the petitioner, I dispose of the writ petition as follows:

a) The petitioners shall remit the outstanding amount of Rs.6,98,869/- (Rupees six lakh ninety eight thousand eight hundred and sixty nine only) together with allied interest and other charges, in ten (10) equated monthly installments, starting from 15.02.2026 and the subsequent installments shall be paid on or before 15^th of every succeeding months.

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

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

Sd/-

BASANT BALAJI JUDGE JS APPENDIX OF WP(C) NO. 40760 OF 2025 PETITIONER EXHIBITS Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED