Petitioners' are aggrieved by Exhibit P1 proceedings, taken against the petitioners' property, for settlement of the defaulted amounts, in the agricultural 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 twelve equal monthly instalments. The respondent-Bank shall quantify the dues as on 30.06.2014 and issue a statement of accounts, in accordance with which the instalments shall be paid. The 1st installment shall be paid on or before 23.07.2014 and thereafter; the due date of instalments falling on the 23rd of each succeeding month. If default is committed in two consecutive instalments, then the W.P (C) No. 13638 of 2014 2 recovery proceedings shall revive and continue. On the satisfaction of the dues as per the statement, the Bank shall give a statement of the future interest from 30.06.2014 and the same shall be settled as the 13th installment.
The writ petition stands disposed of as above. No costs.
K. VINOD CHANDRAN JUDGE DMR/-