The legal proceedings involving loan repayment under the SARFAESI Act and the court's authority for setting payment schedules.

JUDGMENT

(Dated this the 18th day of February, 2026)

The petitioner availed a housing loan from the respondent bank. Due to non-repayment of the loan amount, the respondent initiated proceedings under the SARFAESI Act , 2002, by issuing Ext.P2 notice dated 31.12.2025 . Aggrieved by the same, the petitioner filed this writ petition.

2. The learned Standing Counsel for the Bank, on instructions, submits that the outstanding amount as on date is Rs.52,94,308/-. The Bank has no objection in regularizing the loan account.

3. Having heard the learned counsel on both sides, and taking note of the fact that the Bank is proposing to take physical possession of the property and since the Bank has no objection in regularizing the loan account, I deem it appropriate to dispose of this writ petition with the following directions:

a) The petitioner shall pay a lumpsum amount of Rs.10,00,000/- (Rupees ten lakhs only) within a period of one month from today.

b) After making the payment of Rs.10,00,000/- as directed above, the petitioner shall pay the remaining outstanding amount together with allied interest and other charges in ten (10) equal monthly installments. starting from 15.03.2026 and the subsequent installments shall be paid on or before 15^th of every succeeding months.

c) In case of failure to make payment of the lumpsum amount of Rs.10,00,000/- or any of the installments as directed above, the Bank shall be entitled to proceed for recovery, in accordance with law.

d) All coercive proceedings shall be kept in abeyance to enable the petitioner to repay the entire amount as directed above.

Sd/-

BASANT BALAJI JUDGE