Court orders structured repayment of overdue loan amount to prevent recovery proceedings.

JUDGMENT

(Dated this the 23^rd day of February, 2026)

The petitioner along with her husband availed a housing loan for an amount of Rs.28 lakhs and a Land Loan of Rs.2,36,000/ - in the year 2019 from ICICI Bank for the construction of a residential building. When there was default in the repayment, the bank initiated SARFAESI proceedings against the petitioner.

2. The learned Standing Counsel appearing for the respondents, on instructions, submits that as on today, the total overdue amount comes to Rs.8,83,683/-(Rupees eight lakhs eighty three thousand six hundred eighty three only).

3. The counsel for the petitioner 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.8,83,683/-(Rupees eight lakhs eighty three thousand six hundred eighty three only) along with any accrued interest, cost and allied charges, in eight equal monthly installments, along with regular installments.

(ii) The first installment is to be paid on or before 23.03.2026, and the remaining installments on or before the 23^rd 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/-

BASANT BALAJI, JUDGE