The court allows a debtor to repay dues in installments under specific conditions, emphasizing equitable resolution over coercive measures.

P.V. BALAKRISHNAN, J.

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W.P.(C)No. 10018 of 2026 ….........................................................

Dated this the 23^rd day of March 2026 JUDGMENT It is aggrieved by the coercive action taken by the respondent under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act , 2002 (hereinafter referred to as the ‘SARFAESI Act' for short), this writ petition has been preferred by the petitioner.

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

3. The learned counsel for the respondent submitted that the bank has no objections in permitting the petitioner to clear the entire outstanding amount, by way of installments since, the same is only beneficial to it. He also submitted that the total outstanding amount as on 23.03.2026 is Rs.3,74,072/- (Rupees Three Lakhs Seventy-Four Thousand and Seventy-Two only).

4. Hence, considering the submissions made by the learned counsel for the respondent and the facts and circumstances of this case, I am of the view that the petitioner can be granted an opportunity to clear the entire outstanding amount of Rs.3,74,072/- (Rupees Three Lakhs Seventy-Four Thousand and Seventy-Two only) along with any accrued interest, costs and charges on the following conditions.

1. The petitioner shall remit a sum of Rs.50,000/- (Rupees fifty thousand only) on or before 05^th April 2026 to the bank.

2. Thereafter, the petitioner shall remit the balance amount along with any accrued interest, costs and charges in six (6) equal monthly installments commencing from May, 2026 and such payments shall be made on or before 20^th of every month;

3. If the petitioner complies with the afore order no coercive steps shall be taken by the respondent and in the event of default of any one installment, the respondent can continue with the coercive steps already taken as per law;

4. After remittance of one-half of the amount, the respondent shall release the vehicle to the petitioner on proper acknowledgement. In case of failure on the part of the petitioner to remit the balance amount thereafter, the petitioner shall re-surrender the vehicle to the respondent forthwith.

Sd/-