BY AD v. THAREEK T.S

I have heard the learned Counsel for the petitioner and the learned Standing Counsel representing the Bank.

The specific case of the petitioner is that the petitioner has been making the repayment and maintaining the loan account initially. The default in repayment of the loan account occurred lately due to reasons beyond the control of the petitioner. The petitioner has provided substantial security which will safeguard the interest of the Bank.

In the facts and circumstances of the case, I am inclined to dispose of the writ petition giving a short and reasonable time to the petitioner to clear off her liability.

The writ petition is therefore disposed of with the following directions: (i) The petitioner shall remit an amount of ₹ 35,000/- (Rupees Thirty Five Thousand Only) on or before 29.02.2024 and balance overdue amount in subsequent consecutive W.P.(C) No.5577 of 2024 : 6 : six equal monthly instalments thereafter, along with accruing interest and other Bank charges, if any. (ii) If the petitioner commit single default in making payments as directed above, the respondents will be at liberty to continue with coercive proceedings against the petitioner in accordance with law. (iii) The petitioner shall also pay current EMIs along with the aforesaid payments. (iv) If the petitioner pays the instalments as directed above, any coercive proceedings against the petitioner shall stand deferred. AMR Sd/- N. NAGARESH JUDGE W.P.(C) No.5577 of 2024 : 7 : APPENDIX OF WP(C) 5577/2024 PETITIONER’S EXHIBIT Exhibit P1 TRUE COPY OF THE POSSESSION NOTICE DATED 28.12.2023 ISSUED BY THE 2ND RESPONDENT.