Court allows installment payment of debt per statutory provisions to avoid coercive measures against petitioners.

J U D G M E N T

The petitioners, along with the 8^th respondent, availed credit facilities from the 6^th respondent. On default being committed proceedings have been initiated against the petitioners under the provisions of the Kerala Co-operative Societies Act , 1969. The petitioners are now before this Court seeking limited relief. They pray that they may be permitted to clear the liability in installments.

2. During the course of hearing, petitioners have confined the relief to an opportunity for repaying the outstanding amount in installments.

3. The learned counsel appearing for respondents 6 and 7 would submit that the present liability is Rs.33,99,976/- (Rupees Thirty Three lakh Ninety Nine Thousand Nine Hundred and Seventy Six only) as on today (27.02.2026) and that respondents 6 and 7 have no objection in permitting the petitioners to clear the liability in installments.

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 outstanding amount in fifteen (15) installments.

5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire outstanding amount of Rs.33,99,976/- (Rupees Thirty Three lakh Ninety Nine Thousand Nine Hundred and Seventy Six only) along with any accrued interest, costs and bank charges from the petitioners in the following manner:

(i) The petitioners shall pay the outstanding amount of Rs.33,99,976/- (Rupees Thirty Three lakh Ninety Nine Thousand Nine Hundred and Seventy Six only) together with any accrued interest, costs and bank charges in fifteen (15) equated monthly installments;

(ii) The first installment shall be paid on or before 26.03.2026.

The subsequent installments shall be paid on or before the last working day of the succeeding months;

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

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

The writ petition is disposed of as above.

Sd/-