Court allowed repayment of loan in installments, directing the payment of specific amounts and terms for restoring possession.

JUDGMENT

Dated this the 23^rd day of February, 2026 The prayer in this writ petition is to call for the records leading to Ext.P1 demand notice and quash the same and to allow the petitioner to repay the entire loan arrears in equal installments.

2. The learned counsel for the respondent submits that an interim order was passed by this Court on 29.7.2025 directing the petitioner to remit Rs.3 lakhs on or before 26.8.2025 but, the petitioner did not remit the amount. Thereafter, an application was moved for extension of time, by which time was extended till 14.11.2025. The petitioner remitted the amount within time and Rs.1.5 lakhs was paid on 15.12.2025 and 19.1.2026. In the meanwhile, the physical possession was taken. Now, the petitioner states that if the petitioner is given an opportunity to pay the overdue amount in instsallments, he will pay the amount and the possession may be restored back to him.

3. The learned counsel for the respondents submits that the overdue amount is Rs.4,61,000/-.

4. Having heard the learned counsel on both sides, and the fact that the respondents have no objection in granting installment facility to the petitioner, I dispose of the writ petition as follows:

a) The petitioner is directed to remit Rs.4,61,000/- (Rupees four lakhs sixty one thousand only) in two equal monthly installments. The first installment to be remitted on 10.3.2026 and the second on 10.4.2026. 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.

e) After making the payment of the overdue amount as above, the possession of the secured assets shall be given back to the petitioner. If the amount is paid before the time stipulated above, the physical possession shall be given back within a week thereafter.

Sd/-