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Judgment
Justice S. Siri Jagan
The petitioner is a defaulter in repayment of loan amounts due from the petitioner to the 1st respondent bank. The bank initiated proceedings for sale of the mortgaged property for recovery of the loan amount. The petitioner challenges the same. After arguing for some time, the learned counsel for the petitioner confines relief for permission to pay off the amounts due in instalments. Insofar as I am only granting a facility to pay the amounts in instalments, I do not think it necessary to issue notice to the respondents. Accordingly, this writ petition is disposed of with the following directions:
The petitioner shall pay the entire amounts due in twenty equal monthly instalments starting from 2.7.2012. Every subsequent instalment shall be paid on the first working of every succeeding month. If the petitioner pays the instalments on the due dates without default, further proceedings pursuant to the sale notice shall be kept in abeyance. However, if the petitioner commits default in payment of any one instalment, it would be open to the bank to continue proceedings as per the sale notice without having to issue any fresh notice or proceedings in that regard. Needless to say, the petitioner shall pay interest on the outstanding amounts till the last instalment is paid.