Court allows petitioner to repay loan in installments due to financial hardship, suspending coercive actions.

JUDGMENT

The parents of the petitioner availed credit facilities from the respondent bank. The father of the petitioner expired in the year 2024. This writ petition has been filed challenging the recovery proceedings initiated by the respondent bank to recover amounts due under credit facilities availed by the parents of the petitioner.

2. Learned counsel appearing for the petitioner would submit that the petitioner’s father could not repay the loan on account of financial stringency . It is submitted that the petitioner may be permitted to clear the outstanding amount in some instalments as the property against which the proceedings have been initiated has now devolved on the petitioner, as one of the legal heirs of his late father.

3. Learned counsel appearing for the respondent bank would submit that the bank has no objection in some reasonable instalments being permitted to the petitioner to clear the entire liability. It is submitted that the outstanding amount, as on 21.01.2026, is Rs.14,55,823/- (Rupees Fourteen lakhs fifty five thousand eight hundred and twenty three only).

4. Having regard to the facts and circumstances of the case and the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount in eighteen instalments.

5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.14,55,823/- (Rupees Fourteen lakhs fifty five thousand eight hundred and twenty three only) along with accrued interest, costs and bank charges from the petitioner in the following manner:

(i) The outstanding amount of Rs.14,55,823/- (Rupees Fourteen lakhs fifty five thousand eight hundred and twenty three only) shall be repaid in eighteen equated monthly instalments along with any accrued interest, costs and charges;

(ii) The first instalment shall be paid on or before 02.03.2026 and the subsequent instalments shall be paid on or before the 02^nd day of the succeeding months;

(iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law;

(iv) In order to enable the petitioner to repay the entire amounts as above, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-