The court allows repayment of overdue bank amounts in installments, reflecting judicial support for debtor relief under financial recovery statutes.

JUDGMENT

Dated this the 10^th day of March, 2026 The petitioner has approached this Court challenging the proceedings under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (hereinafter referred to as the ‘SARFAESI Act’ for short) which have been initiated by the bank for recovery of the amounts due from the petitioner, seeking the following reliefs;

“i. Call for the records leading to Exhibits Pl to P3 and quash the same by means of Writ of Certiorari or any other appropriate Writ Order or Direction;

ii. Issue a Writ of Mandamus or any other appropriate Writ, Order or Direction commanding the Respondents to permit the Petitioner to pay the defaulted amounts under Housing Loan Account No.2204740000147 in equated monthly installments so as to regularize the aforesaid home loan account and till then keep in abeyance proceedings pursuant to Exhibit P1;

iii. Direct the Respondents to permit the Petitioner to reside in the house taken possession vide Exhibit P2;”

2. Heard the learned counsel for the petitioner and the learned Standing Counsel for the respondents.

3. The learned counsel for the respondents submitted that the bank has no objections in permitting the petitioner to clear the overdues with interest, by way of installments and regularise the loan account since, the same is only beneficial to the bank.

4. Hence, considering the submissions made by the learned counsel for the respondents and the facts and circumstances of this case, I am of the view that the petitioner can be granted an opportunity to clear the overdue amount of Rs.6,87,282/- (Rupees Six Lakhs Eighty Seven Thousand Two Hundred and Eighty Two only) with interest, in installments and regularise the account subject to terms.

Accordingly, this writ petition is allowed as follows;

(i) The petitioner shall remit a sum of Rs.1,00,000/-

(Rupees One Lakh only) on or before 31^st March, 2026 to the bank.

(ii) Thereafter, the petitioner shall remit the balance overdue amount with interest in twelve equal monthly installments starting from April 2026 and the installments shall be paid on or before

25^th of every month.

(iii) The petitioner shall also continue to pay the regular EMIs/Installments along with the installments as directed afore.

(iv) If the petitioner complies with the above directions, the respondents shall regularise the loan account and in case of failure to pay any of the installments as ordered afore, the bank will be at liberty to continue with the coercive steps already taken.

Sd/-