JUDGMENT

This writ petition has been filed challenging the recovery proceedings initiated by the respondent bank to recover amounts due under credit facilities availed by the petitioners from the respondent bank.

2. Learned counsel appearing for the respondent bank submits that the sale of the mortgaged property is scheduled to be held today. It is submitted that, as of now, there are no bidders for the property and the sale is proposed to be rescheduled to day after tomorrow (28.02.2026). It is submitted that if the petitioners pay substantial amounts towards the loan liability within a period of two weeks from today, the petitioners can be permitted to pay the balance amount in ten equal monthly instalments. It is submitted that if the petitioners fail to remit any one of the instalments as permitted by this Court, the bank may be permitted to bring the property to sale again on the basis of the same sale notification. It is submitted that the outstanding amount, as on 26.02.2026, is Rs.14,92,346/-.

3. Learned counsel appearing for the petitioners has no objection to the course of action suggested by the learned counsel appearing for the respondent bank.

4. Having regard to the fact