The petitioners are aggrieved by the proceedings taken against the petitioners' property for settlement of the defaulted amounts, in the loan account availed.
2. Considering the confined prayer made for instalments, it is directed that the sale shall be kept in abeyance on condition of the petitioners settling the entire loan in ten equal monthly instalments. The respondent-Bank shall quantify the dues as on 15.06.2014 and issue a statement of accounts, in accordance with which the instalments shall be paid. The 1st instalment shall be paid on or before 06.07.2014 and thereafter; the due date of instalments falling on the 06th of each succeeding month. If default is committed in two consecutive instalments, then the recovery proceedings shall revive and continue. On the WP(C).No.9034 of 2014 - 2 -
satisfaction of the dues as per the statement, the Bank shall give a statement of the future interest from 15.06.2014 and the same shall be settled as the 11th instalment.
The writ petition stands disposed of as above. No costs.
vku.
Sd/-
K.Vinod Chandran, Judge ( true copy )