The court mandated a structured repayment plan for overdue loan amounts, highlighting the balance between debtor rights and creditor recovery under the SARFAESI Act.

JUDGMENT

(Dated this the 20^th day of February, 2026)

The petitioner has availed a housing loan for Rs. 20,00,000/-

(Rupees Twenty Lakhs Only) in 2022 from the 1^st respondent bank. The only abode owned by this petitioner where he along with his family are residing, was mortgaged with the 1^st respondent bank as security for availing the said loan. When there was default in the loan repayment the bank initiated proceedings under the SARFAESI Act .

2. The learned Standing Counsel appearing for the respondents, on instructions, submits that as on today, the total overdue amount comes to Rs.2,92,404/-(Rupees two lakh ninety two thousand four hundred four only)

3. The counsel for the petitioner submits that he has complied with the interim order dated 15.01.2026 and seeks an indulgence from this court to grant installments to wipe off the overdue amount. The respondent Bank is willing to accept repayment of overdue amount in limited installments. This is recorded.

4. Having heard the counsel appearing for the petitioner as well as the Standing counsel appearing for the respondent bank, I deem it appropriate to dispose of the writ petition with the following directions:

(i) The petitioner shall pay the overdue amount of Rs.2,92,404/-(Rupees two lakh ninety two thousand four hundred four only) along with any accrued interest, cost and allied charges, in ten equal monthly installments, along with regular installments.

(ii) The first installment is to be paid on or before 20.03.2026, and the remaining installments on or before the 20^th day of every succeeding months, along with regular installments.

(iii) After making payment of the entire overdue amount along with regular installments, the petitioner shall continue to pay the regular installments till the entire loan liability is discharged.

(iv) In case of failure to make payment of the installments as directed above, the Bank shall be entitled to proceed for recovery, in accordance with law.

(v) Till such time, all coercive proceedings against the secured assets shall be deferred.

Sd/-