The petitioner, a defaulter in repaying the loan availed of from the respondent Bank is before this Court challenging the recovery proceedings initiated against him and the property including the residential building. The liability and the default is admitted and the only contention is against failure to intimate quantification. Considering the facts of the case and the alleged impecunious circumstances of the petitioner, the petitioner is granted the instalment facility, subject to following conditions:- (i). The petitioner shall produce a certified copy of this judgment before the respondent Bank within two weeks of receipt of the same.
(ii). The respondent Bank shall WP(C).23763/13 2 quantify the amounts due and inform the petitioner in writing the amounts due as on 31.10.2014.
(iii). The respondent shall grant ten monthly instalments for the payment of the balance dues, starting from 20.11.2014.
(iv). Recovery proceedings shall be kept in abeyance on condition that the remittances as per this order are made without any default.
(v) On the petitioner making two consecutive defaults, the recovery steps initiated shall revive and
Bank shall issue a statement of the interest accrued from 31.10.2014 which shall be satisfied by the petitioner on the 20th of the succeeding month.
(vii). On the petitioner satisfying the entire arrears, the recovery proceedings shall be unenforceable.
WP(C).23763/13 3 The writ Petition is disposed of, making it clear that the respondents will be free to proceed with the recovery if the above conditions are not complied with.
Sd/-
K.VINOD CHANDRAN Judge Mrcs //True Copy//