The petitioner is aggrieved with the recovery proceedings initiated as per Ext.P1. Considering the facts of the case and the alleged impecunious circumstances of the petitioner, this writ petition is disposed of, on the following terms:- (i). The respondent Bank shall issue a statement of accounts showing the defaulted amounts as on 30.06.2014.
(ii). The respondent Bank shall grant ten monthly instalments for the payment of the balance dues, starting from 26.07.2014.
(iii). Recovery proceedings shall be kept in abeyance on condition that the remittances as per this order are made without any default.
WP(C).14847/14 2 (iv) On the petitioner making two consecutive defaults, the recovery steps initiated shall revive and continue.
(v). On the tenth instalment being satisfied, the respondents shall issue a statement of the interest accrued from 30.06.2014 which shall be satisfied by the petitioners on the 26th of the succeeding month.
(vi). On the petitioner satisfying the entire arrears, the recovery proceedings shall be unenforceable.
Writ Petition is disposed of as above, 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//