Court mandated structured repayment of overdue loan amount, balancing rights of debtor and lender.

JUDGMENT

(Dated this the 26th day of February, 2026)

The petitioner availed a mortgage loan of Rs.17 lakhs from the respondent bank. Due to non-repayment of the loan amount, the respondent initiated proceedings under the SARFAESI Act , 2002, by issuing Ext.P1 notice dated 23.10.2025 followed by Ext.P4 notice dated 03.02.2026.

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.1,29,935/-. 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.1,29,935/- (Rupees one lakh twenty nine thousand nine hundred and thirty five only) together with any accrued interest, cost and allied charges, in six (6) equated monthly installments, starting from 20.03.2026 and the subsequent installments shall be paid on or before 20^th of every succeeding months.

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