Court can permit installment payment for outstanding loan amounts under SARFAESI Act provisions.

JUDGMENT

(Dated this the 30th day of January, 2026)

The petitioner availed loan of Rs.10 lakhs from the respondent bank. Due to non-repayment of the loan amount, the loan account was classified as NPA and issued Ext.P1 notice under Section 13(4) of the SARFAESI Act . Aggrieved by the same, the petitioner filed this writ petition.

2. On 19.12.2025, this Court granted an interim order deferring the coercive steps against the petitioner, on condition that the petitioner shall remit an amount of Rs.1 lakh within one month. Today, it is submitted that the said interim order has been complied with.

3. The learned Standing Counsel for the respondents, on instructions, submits that the total outstanding amount is Rs.15,41,672/-. The respondents are willing to permit the petitioner to pay off the outstanding amount in 15 equated monthly installments.

4. Having heard the learned counsel on both sides, and the fact that the respondents have 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.15,41,672 /- (Rupees fifteen lakhs forty one thousand six hundred and seventy two only) together with allied interest and other charges, in fifteen (15) 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 respondents 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/-

BASANT BALAJI JUDGE