Court grants relief and establishes repayment terms for a loan default under the SARFAESI Act.

JUDGMENT

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

The petitioner availed a loan from the respondent bank in the year 2012. Due to non-repayment of the loan amount, the Bank issued Ext.P2 notice under Section 13(2) of the SARFAESI Act . 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.5,05,328/-. 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 pay a lumpsum amount of Rs.1,00,000/- (Rupees one lakh only) within a period of one month from today.

b) After making the payment of Rs.1,00,000/- as directed above, the petitioner shall pay the remaining overdue amount in ten (10) equal monthly installments.

c) The first installment is to be paid on or before

15.04.2026, and the remaining installments on or before the 15^th day of each succeeding month.

d) In case of failure to make payment of the lumpsum amount of Rs.1,00,000/- or any of the installments as directed above, the Bank shall be free to take possession of the secured assets. The Bank shall proceed against the petitioner in accordance with the law to realize its dues.

e) The petitioner shall continue to pay the regular EMIs/installments along with the installments as directed above.

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

Sd/-