The court allowed repayment of overdue loan amounts in instalments due to compliance with prior orders.

JUDGMENT

Petitioners (who are husband and wife) have availed separate loans from the respondent bank. On default being committed, the bank initiated proceedings under Section 69 of the Kerala Co-operative Societies Act , 1969 and Awards were obtained determining the liability of the petitioners.

2. Learned counsel appearing for the petitioners would submits that the petitioners have complied with the condition imposed in the interim order dated 05.08.2024. It is submitted that, some further amounts were also remitted by the petitioners. It is submitted that, the petitioners may be permitted to clear the liability in instalments and regularise the loan account.

3. Learned counsel appearing for the respondent bank would submit that, the overdue amount, as on 26.02.2026, is Rs.32,41,144/- (Rupees Thirty two lakhs forty one thousand one hundred and forty four only) and the respondent bank has no objection in granting some limited instalments to the petitioners to clear the overdue amount. It is submitted that the term of one of the loans is set to expire by May-2026.

4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioners can be granted an opportunity to repay the overdue amount in twelve instalments.

5. Accordingly, there will be a direction to the respondent bank to accept repayment of the overdue amount of Rs.32,41,144/- (Rupees Thirty two lakhs forty one thousand one hundred and forty four only) along with accrued interest, costs and bank charges from the petitioners in the following manner: (i) The overdue amount of Rs.32,41,144/- (Rupees Thirty two lakhs forty one thousand one hundred and forty four only) shall be repaid in twelve equated monthly instalments along with any accrued interest, costs and charges;

(ii) The first instalment shall be paid on or before 27.03.2026 and the subsequent instalments shall be paid on or before the 27^th day of the succeeding months;

(iii)Petitioners shall continue to pay the regular EMI’s/instalments along with the instalments directed above;

(iv) In the event of default of any one I of the nstalment, the respondent bank shall be entitled to proceed in accordance with law;

(v) In order to enable the petitioners to repay the entire amounts as above, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-