The court facilitated a structured repayment plan under SARFAESI Act provisions for a defaulted loan.

JUDGMENT

(Dated this the 31^st day of January, 2026)

Petitioner along with his wife availed term loan of Rs. 15 Lakh from the respondent bank on 27.03.2024. The repayment period is 10 years. When there were default in repayment the respondents have initiated proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (SARFAESI Act).

2. The respondent filed C.M.P. No. 1722/2025 before the Chief Judicial Magistrate Court, Kozhikode and the learned C.J.M. deputed Advocate Commissioner to take possession secured assets. An Advocate Commissioner was appointed by the C.J.M and the Advocate commissioner issued a notice stating that the possession would be taken on 21.01.2026.

3. The learned Standing Counsel appearing for the respondents, on instructions, submits that as on today, the total overdue amount in two loans comes to Rs.2,48,742/-(Rupees two lakhs forty eight thousand seven hundred and forty two only).

4. The counsel for the petitioner seeks an indulgence from this court to grant installments to wipe off the overdue amount. The respondent Bank is willing to accept repayment of overdue amount in limited installments. This is recorded.

5. 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: