The Court upheld the right of a petitioner to repay an outstanding loan in instalments, providing a structured repayment plan.

JUDGMENT

This writ petition has been filed challenging Exhibit P1 sale notice issued in the execution proceedings for enforcement of an Award obtained by the 2^nd respondent bank against the petitioner.

2. Learned counsel appearing for the respondent bank pointed out that the Award, which led to Exhibit P1, is not under challenge. It is submitted that the outstanding amount, as on 11.02.2026, is Rs.1,32,935/- (Rupees One lakh thirty two thousand nine hundred and thirty five only).

3. Learned counsel appearing for the petitioner would submit that the petitioner is ready and willing to settle the liability in instalments.

4. Having regard to the facts and circumstances of the case and the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the outstanding amount in eight instalments.

5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.1,32,935/- (Rupees One lakh thirty two thousand nine hundred and thirty five only) along with accrued interest, costs and bank charges from the petitioner in the following manner:

(i) The outstanding amount of Rs.1,32,935/- (Rupees One lakh thirty two thousand nine hundred and thirty five only) shall be repaid in eight equated monthly instalments along with any accrued interest, costs and charges;

(ii) The first instalment shall be paid on or before 11.03.2026 and the subsequent instalments shall be paid on or before the 11^th day of the succeeding months;

(iii) In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law;

(iv)In order to enable the petitioner to repay the entire amounts as above, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-