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Judgment
Devan Ramachandran, J
When this matter was called today, Sri.V.V.Surendran – learned Standing Counsel for the respondent Bank, submitted that, the total outstanding in the Loan Account of the petitioner, as on 27.06.2024, is Rs.21,13,750/-; and that if he is willing to pay the same in not more than 20 equal monthly instalments, his client will not stand in the way of this Court disposing of this writ petition on such terms.
Sri.S.K.Krishnakumar – learned counsel for the petitioner, fully agreed to the afore and prayed that this Writ Petition be thus ordered.
In the afore circumstances, I allow this Writ Petition, granting liberty to the petitioner to pay the total outstanding amount in the Loan Account, namely, Rs.21,13,750/- as on 27.06.2024, with all applicable charges and interest, in 20 equal monthly instalments commencing from 30.07.2024. If this is done, the Bank shall close the loan account and return the security documents to him, on proper receipt.
Needless to say, as long as the petitioner pays as per the above directions, all further action pursuant to Exts.P2 and P4 will stand deferred; but if he defaults payment of any two instalments as ordered above, the Bank will be at full liberty to invoke appropriate remedies for recovery of the total balance amount as per law, without having to obtain any further orders from this Court.