The petitioner is a defaulter in the repayment of a loan that she has availed from the first respondent bank. The Bank has obtained Exhibit P2 Award against the petitioner for the amount due to the Bank. The petitioner is ready and willing to pay the entire amount. The only problem is that she is not able to raise the required amount in a lump. She therefore seeks the indulgence of this Court to permit her to pay off the entire amount in instalments. Advocate M.Sasindran appears for the first respondent. The Government Pleader appears for respondents 2 and 3. 2. Since the petitioner is willing to pay off the entire amount, I am satisfied that she can be permitted to pay the amount in instalments.
This writ petition is therefore disposed of directing the petitioner to pay the entire amount due and payable to the W.P.(C) No.28975 of 2013-V -:2:-
first respondent Bank with up-to-date interest, in ten equal monthly instalments. The first instalment shall be paid by the petitioner on or before 05.07.2014. The subsequent instalments shall be paid on or before the 5th working day of each succeeding month thereafter. In order to facilitate the petitioner to pay off the entire amount in instalments, all further proceedings of the first respondent to recover the amount due shall be kept in abeyance. It is made clear that in the event of the petitioner committing default in payment of any of the instalments, she shall forefiet the benefit of the above directions and the Bank shall be at liberty to initiate further proceedings to recover the entire amount in accordance with law.
Sd/-
K.SURENDRA MOHAN, JUDGE kkj