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Judgment
5 paragraphs · 251 wordsT.R. Ravi, J
Admit. Standing counsel takes notice for the 1st respondent. Government Pleader takes notice for the 2nd respondent.
The prayer in the writ petition is to permit the petitioner to pay off the amounts due on the loans granted by the 1st respondent in easy instalments.
The standing counsel on instructions submits that there are 2 loans, one which expires in August 2023 and the other which expires in August 2026 and the total amounts overdue on these accounts is ₹3,99,516/- and the total outstanding in the loan account is ₹4,98,020/- as on 04.08.2022. The counsel further submits that the only indulgence that can be given is to permit the petitioner to pay off the amounts overdue in 8 monthly instalments.
I find that the offer is reasonable, particularly since the period of one loan is to expire in August 2023. In the result, this writ petition is disposed of directing the petitioner to pay off the overdue amount of ₹3,99,516/- in 8 equal monthly instalments, the 1st instalment becoming payable on or before 01.09.2022 and the subsequent instalments becoming payable on or before the 1st day of the succeeding months. The petitioner shall pay the regular monthly instalments on the loan account along with the aforesaid instalment amounts. If the petitioner makes default in payment of any two consecutive instalments, the respondents are at liberty to proceed with the recovery. Steps for recovery shall be kept in abeyance to facilitate the payment of instalments.