The petitioner stood as a guarantor to the 3rd respondent who subscribed a chitty from the KSFE. Since default was committed by the 3rd respondent in making regular payments, the respondents issued Ext.P2 sale notice to the petitioner and aggrieved thereby, the writ petition has been filed. 2. 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 respondents shall issue a statement showing the defaulted amounts as on 30.06.2014.
(ii). The respondents shall grant ten WP(C).15492/14 2 monthly instalments for the payment of the balance dues, starting from 18.07.2014.
(iii). Sale scheduled on 26.06.2014 shall be kept in abeyance to facilitate the payment as per the instalments.
(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 petitioner on the 18th 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 WP(C).15492/14 3 free to proceed with the recovery if the above conditions are not complied with.
Sd/-
K.VINOD CHANDRAN, Judge Mrcs //True Copy//