THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 29.07.2026, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

JUDGMENT

Dated this the 29th day of July, 2026

It is aggrieved by the coercive steps taken by the respondents 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 petitioners.

2. Heard the learned counsel for the petitioners and the learned counsel for the respondents.

3. The learned counsel for the petitioners submitted that an opportunity may be given to the petitioners to clear the outstanding amount in installments.

4. The learned counsel for the respondents submitted that the Bank has no objection in permitting the petitioners to clear the entire outstanding amount with interest, by way of installments since the same is only beneficial to it. He also submitted that the total outstanding amount, as on 23.06.2026, is Rs.40,63,484/- (Rupees forty lakh sixty three thousand four hundred and eighty four only).

5. 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 petitioners can be granted an opportunity to repay the entire outstanding amount of Rs.40,63,484/- (Rupees forty lakh sixty three thousand four hundred and eighty four only) along with any accrued interest, costs and charges in installments, subject to terms.

6. Accordingly, this writ petition is allowed as follows:

(i) The petitioners shall remit a sum of Rs.15,00,000/- (Rupees fifteen lakhs only) on or before 12 P.M. on 31st July, 2026 to the Bank;

(ii) Thereafter, the petitioners shall remit the balance outstanding amount along with any accrued interest, costs and charges in six equal monthly installments commencing from 5th September, 2026 and such installments shall be paid on or before the end of every month;

(iii) If the petitioners comply with the afore order, no coercive steps shall be taken by the respondents and in the event of default of any one installment, the Bank can continue with the coercive steps already taken as per law.

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