I have heard the learned counsel for the petitioner as also the counsel for the respondent Bank. The learned counsel for the respondent Bank submits that the interim order has been complied with. In such circumstance, if the recovery proceedings have not yet concluded, the petitioner shall be granted seven equal monthly instalments, to pay off the entire dues. The petitioner shall produce the certified copy of this judgement before the respondent Bank, within two weeks from the date of receipt. The respondent-Bank shall quantify the dues as on 20.12.2014 and issue a statement of accounts, in accordance with which the instalments shall be paid. The 1st instalment shall be paid on or before 01.01.2015 and thereafter; the due date of instalments falling on the 01st of each succeeding month. If default is WPC No.24209/2012 ::2:: committed in two consecutive instalments, then the 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 20.12.2014 and the same shall be settled as the 8th instalment.
The writ petition stands disposed of as above.
No costs.
Sd/-
(K. VINOD CHANDRAN, JUDGE) jma //true copy// P.A to Judge