The court reinforced the principle of fair opportunity for debtors to repay loans while protecting them from immediate foreclosure actions.

JUDGMENT

(Dated this the 23rd day of February, 2026)

The petitioner availed a housing loan of Rs.10 lakhs from the 2^nd respondent bank in the year 2024. Due to non- repayment of the loan amount, the respondent initiated proceedings under the SARFAESI Act, 2002 , by issuing Ext.P1 notice dated 30.12.2025. Aggrieved by the same, the petitioner filed this writ petition.

2. The learned Standing Counsel for the Bank, on instructions, submits that the overdue amount as on date is Rs.56,911/-. 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 remit the overdue amount of Rs.56,911/- (Rupees fifty six thousand nine hundred and eleven only) together with any accrued interest, cost and allied charges, in two (2) equated monthly installments, the first instalment on or before 04.03.2026 and the second instalment on 04.04.2026.

b) The petitioner shall continue to pay the regular EMIs/installments along with the installments as directed above.

c) In the event of default of any one installment, the respondent Bank shall be entitled to proceed for recovery, in accordance with law.

d) All coercive proceedings shall be kept in abeyance to enable the petitioner to repay the entire amount as directed above.

Sd/-

BASANT BALAJI JUDGE