The petitioner is aggrieved by the recovery proceedings initiated, on not paying the regular instalments after availing of the price amount as per chitty, conducted by the 1st respondent. The recovery proceedings initiated in the circumstance of there being six months default. 2. In the circumstances of the petitioner satisfying the entire arrears/default in six instalments, on the respective due dates, there shall be a direction to the respondent Bank to regularize the loan account and permit the petitioner to pay the amounts as per the original agreement. The recovery proceedings shall stand closed on the satisfaction of the arrears being paid. If two consecutive defaults are committed during the instalment period granted by this Court, Bank shall proceed with the recovery proceedings W.P.(C) No. 14743 of 2014 2 initiated. First instalment shall be paid on 11.07.2014 and the balance instalments shall be paid on the 11th of the succeeding months.
Writ petition disposed of.
K. VINOD CHANDRAN, JUDGE SB