The court emphasized the procedure for loan regularization under the SARFAESI Act and the responsibilities of the borrower in repayment.

JUDGMENT

(Dated this the 24th day of February, 2026)

The petitioner along with his wife availed two loans from the first respondent bank. Due to non-repayment of the loan amount, the Bank initiated proceedings under the SARFAESI Act and issued Ext.P1 notice dated 30.07.2025 followed by Ext.P2 notice dated 10.11.2025. 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.8,20,749/-. 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.2,50,000/- (Rupees two lakhs fifty thousand only)

within a period of one month from today.

b) After making the payment of Rs.2,50,000/- 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

20.04.2026, and the remaining nine installments on or before the 20^th day of each succeeding month.

d) In case of failure to make payment of the lumpsum amount of Rs.2,50,000/- or any of the installments as directed above, the Bank shall proceed for recovery 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/-