The petitioner is aggrieved by the proceedings taken against the petitioner's property for settlement of the defaulted amounts, in the housing loan account availed. 2.Considering the confined prayer made for instalments, it is directed that, if recovery proceedings are not yet concluded, the same shall be kept in abeyance on condition of the petitioner settling the entire loan in 'fifteen' equal monthly instalments. The petitioner shall produce the judgment before the respondent-Bank, who shall quantify the dues as on 15.12.2014 and issue a statement of accounts, in accordance with which the instalments shall be paid. The 1st instalment shall be paid on or before 26.12.2014 and thereafter; the due date of instalments falling on the 26th of each succeeding month. If default is committed in two consecutive instalments, then the recovery proceedings W.P.(C) No.15249 of 2010 (E) 2 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 15.12.2014 and the same shall be settled as the 16th instalment.
The writ petition is disposed of. No costs.
AMV/26/11/ sd/-
K.VINOD CHANDRAN, JUDGE