Court grants opportunity for repayment in instalments to the petitioner while allowing bank to proceed in case of default.

JUDGMENT

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 petitioner.

2. Learned counsel appearing for the petitioner would submit that the petitioner is only seeking the liberty of repaying the entire amount in some instalments.

3. The learned counsel appearing for the respondent Bank submits that the property of the petitioner was sold in auction and was purchased by the Bank. However, it is submitted that since the auction has not been confirmed, the Bank has no objection in permitting the petitioner to clear the outstanding liability in some limited instalments. It is submitted that if the amount is paid within the manner permitted by this Court, the Bank will cancel the sale. It is submitted that the outstanding amount, as on 21.11.2025, is Rs.4,19,812/-

(Rupees Four Lakhs nineteen thousand eight hundred and twelve 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 12 instalments.

5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.4,19,812/- along with accrued interest, costs and bank charges from the petitioner in the following manner:

(i) The outstanding amount of Rs.4,19,812/- shall be repaid in 12 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 2^nd day of the succeeding months;

(iii) If the amount is repaid by the petitioner as directed above, the sale conducted in favour of the Bank shall be cancelled. However, if the petitioner fails to remit the amount as permitted, it would be open to the respondent Bank to continue with the proceedings initiated against the petitioner in accordance with law;

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

(v) 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/-