Judgment grants a defaulted borrower the opportunity to repay overdue amounts in instalments while stalling coercive recovery actions.

JUDGMENT

The petitioner, defaulted borrower from the respondent bank, is challenging proceedings under the SARFAESI Act initiated by the respondent Bank for recovery of the amounts due.

2. During the hearing, the petitioner confined the relief to an opportunity to repay the overdue amount in instalments and to obtain regularisation of the loan accounts.

3. It was submitted on behalf of the respondent Bank that the petitioner committed default in repayment of the housing loan, and the total overdue amount as on 27.01.2026 is ₹4,83,957/- (Rupees Four Lakh Eighty-Three Thousand Nine Hundred and Fifty-Seven only). It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent Bank is willing to accept repayment of the overdue amount in limited instalments and regularise the loan accounts. This is recorded.

4. It is submitted that the petitioner has complied with the order dated

18.12.2025. Given the above, the petitioner can be granted an opportunity to repay the total overdue amount on the following conditions, and if they are met, to have the loan accounts regularised.

1. The balance overdue amount, ₹4,83,957/- (Rupees Four Lakh Eighty-Three Thousand Nine Hundred and Fifty-Seven only) along with any accrued interest, costs and charges, shall be paid in 10 equal monthly instalments starting from 15^th February 2026 and subsequent instalments shall be paid on or before 15^th of every succeeding months.

2. Petitioner shall continue to pay the regular EMIs/instalments along with the instalments directed above.

3. In the event of default of any one instalment, or the lumpsum amount as directed above the respondent Bank shall be entitled to proceed in accordance with law;

4. All coercive proceedings shall be kept in abeyance to enable the petitioner to repay the entire amount directed above.

The writ petition is disposed of as above.

Sd/-