A borrower is entitled to request payment facilitation through instalments while ensuring compliance with default terms established by financial institutions.

BASANT BALAJI J ======================

W.P. (C) No. 7345 of 2026 ========================

Dated 26^th day of February 2026 JUDGMENT The petitioner availed two loans ( Housing Loan of Rs.10,00,000/-

and an Overdraft (OD) facility of Rs.5,00,000/) from the respondent Bank in the year 2012, by mortgaging property having an extent of 70 cents comprised in Sy. No. 132/2 (Old Sy. Nos. 786 & 787) of Vadakkethara Village, Thalappilly Taluk, Thrissur District, which is owned by the petitioner’s wife, as security for the loan transaction. Subsequently, the petitioner committed default in repayment of the loan amount as per the agreed terms. In view of the said default, the respondent Bank initiated recovery proceedings against the secured asset under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002.

Aggrieved by the measures so initiated by the respondent Bank under the said Act, the petitioner has approached this Court by filing the present writ petition.

2. The learned counsel for the respondent Bank submits that the petitioner has availed two loan facilities, namely, a housing loan and an overdraft facility. The outstanding amount in the overdraft facility is ₹3,36,514/- (Rupees Three Lakh Thirty-Six Thousand Five Hundred Fourteen Only), and the overdue amount in the housing loan is ₹2,66,471/- (Rupees Two Lakhs Sixty-Six Thousand Four Hundred and Seventy-One only). It is further submitted that since the tenure of the overdraft facility has expired, the entire outstanding amount thereunder is liable to be paid. However, in respect of the housing loan, the account can be regularised upon payment of the overdue amount of ₹2,66,471/.

3. In view of the above, I am of the view that this writ petition can be disposed of directing the petitioner to remit the balance overdue amount of ₹2,66,471/- (Rupees Two Lakhs Sixty-Six Thousand Four Hundred and Seventy-One only) in the housing loan in six (6) instalments, and the balance outstanding amount in the overdraft facility of ₹3,36,514/- (Rupees Three Lakh Thirty-Six Thousand Five Hundred Fourteen Only) in four (4) equated monthly instalments, subject to the following conditions:

1. The balance outstanding amount of ₹3,36,514/- (Rupees Three Lakhs Thirty-Six Thousand Five Hundred and Fourteen only) along with accrued interest, costs, and charges, if any, shall be paid in four (4) equal monthly instalments and overdue amount of ₹2,66,471/- (Rupees Two Lakhs Sixty-Six Thousand Four Hundred and Seventy-One only) along with accrued interest, costs, and charges, if any, shall be paid in six (6) equated monthly instalments, starting from 20th March 2026, and subsequent instalments shall be paid on or before the

20th day of every succeeding month.

2. Petitioner shall continue to pay the regular EMIs/instalments along with the instalments directed above.

3. In the event of default of any one instalment, the respondent Bank shall be entitled to proceed for recovery, in accordance with the law;

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

The writ petition is disposed of as above.

Sd/-