JUDGMENT

Dated this the 26^th day of February, 2026 The petitioner has availed financial assistance from the 2^nd respondent Bank through his father for an amount of Rs.12 lakhs on 23.01.2023. Since there was default in repayment, when notice under SARFAESI Act was issued, he remitted Rs.1,80,000/- with the 2^nd respondent Bank. The petitioner has now issued with Ext.P3 notice by the 3^rd respondent for taking possession of the secured asset under Section

13(4) of the Act.

2. The learned Standing Counsel for the Bank, on instructions, submits that the outstanding amount in Cash Credit Facility is Rs.56,638/- and the overdue amount as regards SP EML as on date is Rs.4,57,844/-. 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 the entire outstanding amount of Rs.56,638/- in the Cash Credit and close the loan on or before

15.03.2026.

b) The petitioner sh