1. The petitioner is aggrieved by the proceedings taken against the petitioner's property for settlement of the defaulted amounts, in the loan account availed.
2. Considering the confined prayer made for instalments, it is directed that the sale shall be kept in abeyance on condition of the petitioner settling the entire loan in ten equal monthly instalments. The petitioner will produce a certified copy of the judgment before the respondent within two weeks of its receipt. The respondent-Bank shall quantify the dues as on 10.12.2014 and issue a statement of accounts by registered post, 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 W.P.(C)No.26579 of 2014 -:2:-
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 10.12.2014 and the same shall be settled as the 11th instalment.
The writ petition stands disposed of as above. No costs.
K. Vinod Chandran, Judge.
sl.