Court allows installment repayment of decree debt acknowledging mutual consent while securing creditor's right to execute in case of default.

JUDGMENT

The petitioners are the judgment debtors in E.P No.70 of 2023 on the files of the Sub Court, Kasaragod. The respondent/decree holder filed execution petition to execute the award in A.R.C No.1163 of 2018. By Ext.P8 order, the execution court fixed the upset price for the schedule property at Rs.20 Lakhs. The same was challenged by the petitioners before this Court and this Court by Ext.P9 judgment, set aside Ext.P8 and remitted the matter for reconsideration. Pursuant to Ext.P9, the execution court passed Ext.P10 whereby, the upset price is fixed as Rs.24 Lakhs. Challenging Ext.P10, this original petition is filed.

2. When the original petition came up for consideration on 23.01.2026, it was submitted by the learned counsel for the respondent Society that the respondent is willing to show indulgence to the petitioners by granting installment facility.

3. When the matter came up for further consideration today, the learned counsel for the petitioners submits that the petitioners are willing to pay the entire decree debt with accrued interest in fifteen equal monthly installments.

4. The learned counsel for the respondent Society submits that they have no objection in permitting the petitioners to pay the decree debt along with accrued interest in fifteen equal monthly installments.

In the light of the submissions made by the learned counsel on both sides, this original petition is disposed of permitting the petitioners to pay the decree debt along with accrued interest in fifteen equal monthly installments commencing from 15.02.2026. In case the petitioners default payment of any of the installments as aforesaid, it will be open to the execution court to proceed with the execution pursuant to Ext.P10.

It will also be open to the petitioners to approach the Society for the benefit of One Time Settlement.

Sd/-