The court can permit deferment of coercive recovery actions upon structured repayment terms being established.

JUDGMENT

The limited relief sought for by the petitioner is for a direction to the respondent to defer the coercive proceedings in respect of the gold ornaments pledged until the consideration of his representation.

2. Petitioner had availed two gold loans from the respondent. The loans were availed for a period of one year, and despite expiry of the said period, he failed to repay the amount. Petitioner submitted that the gold pledged by him would be sold. In such circumstances, he has approached this Court seeking a breathing time for repayment of the loan.

3. The learned Standing Counsel for the respondent, upon instructions, submitted that the total liability due from the petitioner as on 31.01.2026 is Rs.17,55,072/- and that, if the petitioner is willing to repay the amount within a reasonable time, they are willing to accept the same in reasonable instalments.

4. Having heard the learned counsel for petitioner as well as the learned Standing Counsel for the respondent, I am satisfied that the writ petition can be disposed of with a direction.

Accordingly, there will be a direction to the respondent to accept repayment of the total liability of Rs.17,55,072/- along with future interest and costs, due under the two loans availed by the petitioner in 12 equated monthly instalments, of which the first instalment shall be payable on 28.02.2026, and the remaining instalments on the 28^th of every succeeding month. If the petitioner complies with the above conditions, the recovery proceedings initiated to sell the gold pledged by the petitioner, shall be kept in abeyance. Needless to mention, if in case, petitioner commits default in any two consecutive instalments, the respondent shall be at liberty to initiate coercive proceedings to recover the amount, in accordance with law.

The writ petition is disposed of.

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