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Judgment
Sathish Ninan, J.
Repayment of the credit facilities availedby the petitioner were defaulted. The Bank initiated steps for recovery of the debt. The immovable property of the petitioner is put in auction for recovery of the debt. It is at that stage, the petitioner has approached this Court.
Heard the learned counsel on either side.
The petitioner seeks for instalment facility to wipe off the entire liability.
The learned Standing counsel for the Bank submits that the Bank is not averse to grant of a reasonable instalment facility.
Considering the amount involved, I am inclined to grant the petitioner 10 equal monthly instalments to wipe off the entire liability.
The writ petition is disposed of permitting the petitioner to pay off the entire liability due to the Bank, inclusive of interest and costs, in 10 equal monthly instalments commencing from 16-10-2023. If the petitioner commits default in payment of a single instalment, it shall be open for the Bank to continue coercive steps in accordance with the law.