A borrower allowed to repay the loan in installments, with conditions for default established.

JUDGMENT

Dated this the 31^st day of January, 2026 The petitioner availed cash credit facility from the respondent bank in the year 2016 for an amount of Rs.15,00,000/-. Due to non-repayment of the loan amount, the respondent initiated proceedings under the SARFAESI Act . The petitioner approached this Court by filing W.P.(C) No.13400 of 2024 and this Court by judgment dated 12.04.2024 granted ten installments to pay off the entire outstanding amount. Since the petitioner committed default in paying the installments, the Bank issued notice regarding the sale of the property.

2. The learned Standing Counsel for the respondents, on instructions, submits that the total outstanding amount is Rs.27,97,803/-. The respondent is willing to permit the petitioner to pay off the outstanding amount in fifteen equated monthly installments.

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

a) The petitioner shall remit the outstanding amount of Rs.27,97,803/- (Rupees Twenty Seven lakhs Ninety Seven thousand Eight hundred three only) together with allied interest and other charges, in fifteen (15) equated monthly installments, starting from 20.02.2026 and the subsequent installments shall be paid on or before 20^th of every succeeding months.

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

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

Sd/-