The petitioner, who has availed of a loan from the 1st respondent-Bank, is aggrieved by the action initiated by Exhibits P1 and P2.
2. Considering the confined prayer made for instalments, it is directed that further proceedings pursuant to Exhibits P1 and P2 shall be kept in abeyance on condition of the petitioner settling the entire loan in twelve equal monthly instalments. The respondent-Bank shall quantify the dues as on 10.12.2014 and issue a statement of accounts, in accordance with which the instalments shall be paid. The 1st instalment shall be paid on or before 22.12.2014 and thereafter; the due date of instalments falling on the 22nd of each succeeding month. If default is committed in two consecutive instalments, then the respondent-Bank would be entitled to proceed for recovery. On the satisfaction of the dues as per the statement, the Bank shall WP(C).No.5049 of 2012 - 2 -
give a statement of the future interest from 10.12.2014 and the same shall be settled as the 13th instalment.
The writ petition is disposed of, granting instalment facility as above. There shall be no order as to costs.
vku.
Sd/-
K.Vinod Chandran, Judge ( true copy )