The court grants an installment repayment plan for a loan default under the SARFAESI Act, balancing creditor rights and debtor ability.

JUDGMENT

(Dated this the 3rd day of March, 2026)

The petitioners jointly availed a loan of Rs.13,65,043/-

from the respondent bank. Due to non-repayment of the loan amount, the bank initiated proceedings under the SARFAESI Act and issued Ext.P1 notice dated 07.02.2026. Aggrieved by the same, the petitioner filed this writ petition.

2. The learned Standing Counsel for the respondents, on instructions, submits that the total outstanding amount is Rs.14,74,000/-. The petitioner prays that he may be given 20 instalments which is opposed by the learned counsel for the respondents.

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

a) The petitioners shall remit the outstanding amount of Rs.14,74,000/- (Rupees fourteen lakhs seventy four thousand only) together with allied interest and other charges, in fifteen (15) equated monthly installments, starting from 05.04.2026 and the subsequent installments shall be paid on or before 5^th of every succeeding months.

b) In the event of default of any one installment, the respondents shall be entitled to proceed for recovery, in accordance with law.

c) All coercive proceedings shall be kept in abeyance to enable the petitioners to repay the entire amount as directed above.

Sd/-

BASANT BALAJI JUDGE