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Judgment
T.R. Ravi, J
Admit. Standing counsel takes notice for the respondents.
The petitioner has approached this Court seeking permission to pay off the amounts due to the respondent Bank in easy instalments. The standing counsel on instructions submits that an amount of ₹27,49,028.75 is due to them. It is further submitted that if the petitioner remits a substantial amount before end of March, they can be permitted to pay the balance amount in instalments.
In the above circumstances, this writ petition is disposed of directing the petitioner to pay a sum of ₹2,00,000/- (Rupees two lakhs only) on or before 15.03.2023 and the balance amount along with accrued interest in 11 equal monthly instalments, the 1st instalment becoming payable on or before 19.04.2023 and the subsequent instalments becoming payable on or before the 19th of the succeeding months. If the petitioner makes a single default in payment of instalments, the respondents are at liberty to proceed with the recovery. Steps for recovery shall be kept in abeyance to facilitate the payment of instalment.