The court established the terms for repayment of overdue loan amounts while deferring coercive actions until compliance with payment requirements.

JUDGMENT

(Dated this the 27^th day of February, 2026)

The petitioner along with her late husband, availed a housing loan from the lst respondent bank in the year 2016. The petitioner's husband, who was the co-borrower, unfortunately passed away on 03.02.2026. The loan was secured by mortgaging 8 cents of property in Re.Sy.No.73 of Manathana Desom, Manathana Village, Iritty Taluk, Kannur District, belonging to the petitioner's late husband, and 6 cents of property in Sy.No.73 of the same village and taluk, belonging to the petitioner. When there was default in the repayment, the bank initiated SARFAESI proceedings against the petitioner.

2. The learned Standing Counsel appearing for the respondents, on instructions, submits that as on today, the total overdue amount in two loans comes to Rs.4,99,880/-.

3. The counsel for the petitioner seeks an indulgence from this court to grant installments to wipe off the overdue amount. The respondent Bank is willing to accept repayment of overdue amount in limited installments. This is recorded.

4. 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 direction:

(i) The petitioner shall pay a lump sum amount of Rs.1,50,000/-(Rupees one lakh fifty thousand only) on or before 27.03.2026.

(ii) The petitioner shall pay the balance overdue amount along with any accrued interest, cost and allied charges, in 15 equal monthly installments, along with regular installments.

(iii) The first installment is to be paid on or before 27.04.2026, and the remaining installments on or before the

27^th day of every succeeding months.

(iv) After making payment of the entire overdue amount along with regular installments, the petitioner shall continue to pay the regular installments till the entire loan liability is discharged.

(v) In case of failure to make payment of any of the installments or the lump sum amount as directed above, the Bank shall be free to take possession of the secured assets, in accordance with law.

(vi) Till such time, all coercive proceedings against the secured assets shall be deferred.

Sd/-