Court allows repayment in installments under SARFAESI Act, facilitating retention of secured asset upon compliance.

JUDGMENT

Dated this the 31^st day of January, 2026 The petitioner availed a housing loan from the respondent-

Bank for a sum of Rs.2,00,000/-. Due to non-repayment of the loan amount, the respondent initiated proceedings under the SARFAESI Act , 2002. On 17.01.2025, a notice was issued by the Advocate Commissioner, on the basis of the order passed by the CJM,Thiruvananthapuram, to take possession of the secured asset. Thereafter, on 29.01.2025, the physical possession of the secured asset was taken.

2. The learned Standing Counsel for the Bank, on instructions, submits that the overdue amount as on date is Rs.1,32,278/-. The respondent is willing to permit the petitioner to pay off the overdue amount in equated monthly instalments. It is also submitted that the possession of the property is taken on

29.01.2025.

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:

i) The petitioner shall pay a lumpsum amount of Rs.50,000/-

(Rupees fifty thousand only) within one month from today.

ii) The petitioner shall remit the balance overdue amount together with any accrued interest, cost and allied charges, in two equated monthly installments, starting from 20.03.2026 and the subsequent installment shall be paid on or before 20^th of the succeeding month.

iii) In case of failure to make payment of the lumpsum amount of Rs.50,000/- or any of the installments as directed above, the respondent shall be entitled to proceed in accordance with law.

iv) The petitioner shall continue to pay the regular EMIs/installments along with the installments as directed above.

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

vi) If the entire overdue amount is cleared, the petitioner shall be given back the possession of the secured asset which is taken from her.

Sd/-

BASANT BALAJI JUDGE Sru PETITIONER’S EXHIBITS Exhibit-P1 A TRUE COPY OF THE SETTLEMENT DEED BEARING NO.178/2022 DATED 11/2/2022.