The court permitted repayment of outstanding loan in installments, balancing debtor's rights under SARFAESI Act.

SHRI.JOHN JOSEPH THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 30.01.2026, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

JUDGMENT DATED THE 30^TH DAY OF JANUARY 2026 The petitioner availed cash credit facility from the respondent bank in the year 2019 for an amount of Rs.18,00,000/- by depositing the title deeds including the residential house where the petitioner and his family resides. Due to non-repayment of the loan amount, the respondent Bank filed a petition under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (SARFAESI Act) before the Chief Judicial Magistrate’s Court, Manjeri and the said Court has passed an order appointing an Advocate Commissioner to take physical possession of the secured assets who had issued Ext.P2 notice. Aggrieved by the same, the petitioner has filed this writ petition for issuing a direction to the respondent Bank to allow him to repay the amount due in 24 equal monthly installments. .

2. On 17.12.2025, this Court granted an interim order deferring the coercive steps against the petitioner, on condition that the petitioner shall remit an amount of Rs.5,00,000/- within one month. Today, it is submitted that the said interim order has been complied with.

3. The learned Standing Counsel for the respondent, on instructions, submits that the total outstanding amount is Rs.15,30,684/- (Rupees Fifteen lakhs thirty thousand six hundred and eighty four only). The respondent is willing to permit the petitioner to pay off the outstanding amount in ten equated monthly installments.

4. 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.15,30,684/- (Rupees Fifteen lakhs thirty thousand six hundred and eighty four only) together with allied interest and other charges, in ten (10) 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/-