The court allows installment repayment of a loan under the SARFAESI Act while temporarily halting coercive proceedings.

JUDGMENT

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

The petitioner availed a loan of Rs.8,00,000/- along with his mother in the year 2018. Due to non-repayment of the loan amount, the loan account was classified as NPA and the bank initiated proceedings under the SARFAESI Act by issuing Ext.P3 notice. Ext.P4 notice was issued by the Advocate Commissioner, on the basis of the order of the CJM Court, Thalassery, in CMP No.2414/2025, intimating that the physical possession of the property would be taken. Aggrieved by the same, the petitioner filed this writ petition.

2. On 30.12.2025, this Court passed an order directing that the petitioner shall remit an amount of Rs.1,00,000/- within one week. Today, it is submitted that the said order has been complied with.

3. The learned Standing Counsel for the respondents, on instructions, submits that the total outstanding amount is Rs.12,51,484/-. The respondents are willing to permit the petitioner to pay off the outstanding amount in twelve 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.12,51,484 /- (Rupees twelve lakhs fifty one thousand four hundred and eighty four only) together with allied interest and other charges, in twelve (12) 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