AI Structured Summary
Not yet generated for this judgment
Judgment
Antony Dominic, J.—Heard the learned counsel for the petitioner and the learned Standing Counsel appearing for the 3rd respondents. Petitioner and her husband availed of a housing loan of Rs. 3 Lakhs from the respondent in 2002. Default was committed and recovery proceedings were initiated. Finally by Ext. P5 notice published by the Board property is scheduled to be sold. It is at that stage the writ petition is filed with a prayer to allow an installment facility to pay the amount due.
Taking note of the submissions made, I direct that the petitioner will be permitted to be paid the amount due in eight equal monthly installments. First installment shall be paid on or before 15.11.2012 and the subsequent installments shall be paid on or before 15th of every succeeding month. Subject to payment without default, coercive action shall be kept in abeyance and in case default is committed in any one of the installments, respondents will be free to continue the recovery action that they have already initiated.
Writ petition is disposed of as above.