Court permits installment repayment for loan default while ensuring compliance with repayment terms.

JUDGMENT

Petitioner availed credit facilities from the

1^st respondent bank. On default being committed proceedings have been initiated against the petitioner under the provisions of the Kerala Revenue Recovery Act , 1968, prompting the petitioner to approach this Court by filing the above writ petition.

2. During the course of hearing, petitioner has confined the relief to an opportunity for repaying the overdue amount in instalments and to obtain regularization of the loan account.

3. It is submitted on behalf of the respondent bank that the petitioner committed default in repayment and the overdue amount, as on 26-02-2026, is Rs.1,43,702/-. It is further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the overdue amount in limited instalments and regularize the loan account.

4. Having regard to the circumstances of the case and the submissions made as recorded above, I am of the view that the petitioner can be granted an opportunity to repay the overdue amount in 10 instalments and thereafter, if the amount so directed is repaid within the time as directed above, to have the loan account regularized.

5. Accordingly, there will be a direction to the respondent bank to accept repayment of the entire overdue amount of Rs.1,43,702/- along with any accrued interest, costs and charges from the petitioner and regularize the loan account of the petitioner in the following manner:

i. The petitioner shall pay the overdue amount of Rs.1,43,702/- in 10 equated monthly instalments along with any accrued interest, costs and charges;

ii. The first instalment shall be paid on or before

31-03-2026. The subsequent instalments shall be paid on or before the last working day of the succeeding months;

iii.Petitioner shall continue to pay the regular EMI’s/instalments on the due date without fail;

iv.In the event of default of any one instalment, the respondent bank shall be entitled to proceed in accordance with the law;

v. In order to enable the petitioner to repay the entire amounts, all coercive proceedings shall be kept in abeyance.

The writ petition is disposed of as above.

Sd/-