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Judgment
3 paragraphs · 153 wordsT.R. Ravi, J
The petitioner has approached this Court seeking permission to pay off the amounts due to the respondent Bank in easy instalments. The counsel for the respondent on instructions submits that the overdue amount comes to ₹4,67,528/-.
In the above circumstances, this writ petition is disposed of permitting the petitioner to pay off the overdue amount in 6 equal monthly instalments, the 1st instalment falling due on or before 03.05.2023 and the subsequent instalments falling due on or before 3rd of the succeeding months. The petitioner shall pay the regular monthly instalments along with the instalments towards the overdue amounts. If the petitioner pays the entire instalments as directed above, the respondent shall regularise the loan account. If the petitioner makes two defaults in payment of instalments, the respondent is at liberty to proceed with the recovery. Steps for recovery shall be kept in abeyance to facilitate the payment of instalments.