The court allowed a petitioner to pay overdue housing loan amounts in installments, deferring coercive actions and emphasizing the importance of accommodating debts.

JUDGMENT

(Dated this the 27^th day of January, 2026)

The petitioner who has availed two housing loans from the respondent Bank, and committed default in the repayment. The respondent bank initiated proceedings under the SARFAESI Act , for recovery of the amounts due.

2. The learned Standing Counsel appearing for the respondents, on instructions, submits that as on today, the total outstanding amount in the 1^st loan comes to Rs.2,83,700/- (Rupees two lakhs eighty three thousand seven hundred only). The term of the 1^st loan will expire on 31.01.2026. As far as the 2^nd loan is concerned the term is still 2030. Therefore, The said loan can be regularized. The overdue amount in the said loan is Rs.8,12,000/- (Rupees eight lakhs twelve thousand only).

3. The counsel for the petitioner seeks an indulgence of this court to grant installments to wipe off the overdue amount. The respondent Bank is willing to accept repayment of overdue amount and the outstanding amount in limited installments.

This is recorded.

4. Having heard the counsel appearing for the petitioner as well as the Standing counsel appearing for the respondent bank, I deem it appropriate to dispose of the writ petition with the following directions:

(i) The petitioner shall pay the overdue amount in the loan account which will expire only in 2030 of Rs.8,12,000/- (Rupees eight lakhs twelve thousand only) along with any accrued interest, cost and allied charges, in 10 equal monthly installments, along with regular installments.

(ii) The petitioner shall pay the outstanding loan amount of Rs.2,83,700/-which will be over in 2026 in 2 equated monthly instalments.

(iii) The first installment of outstanding is to be paid on or before 15.02.2026, and the 2^nd installment on or before 15.03.2026. The 1^st installment of the overdue is to be paid on or before 15.03.2026 and the subsequent installments on or before 15^th day of every succeeding months, along with regular installments.

(iv) After making payment of the entire overdue amount along with regular installments, the petitioner shall continue to pay the regular installments till the entire loan liability is discharged.

(v) In case of failure to make payment of any one of the installments as directed above, the Bank shall be free to take possession of the secured assets, in accordance with law.

(vi) Till such time, all coercive proceedings against the secured assets shall be deferred.

Sd/-

BASANT BALAJI, JUDGE