This writ petition is filed challenging the recovery proceedings initiated by the 1st respondent. There was an interim stay granted on 22.06.2009 directing payment of Rs.1,50,000/- (Rupees one lakh fifty thousand only). If the recovery proceedings have not concluded and the petitioners have also not satisfied the loan account, the petitioners shall be granted 10 instalments to satisfy the entire loan amount. The respondent bank, who appears herein, shall issue a statement of accounts showing the dues as on 20.12.2014 to the petitioners by registered post and also communicate the instalments granted by this Court. The first instalment shall be paid on 01.01.2015 and followed up on the 1st of every month. On completion of the said 10 instalments, the respondent bank shall issue a further demand for future interest from 20.12.2014 which shall be satisfied as the 11th instalment. If one default is committed in any of the instalments granted hereby, or W.P.(C) No.17264 of 2009 2 the petitioners do not respond to the notice issued by the respondent bank then the recovery proceedings shall revive and continue.
No costs.
Sd/-
K. VINOD CHANDRAN JUDGE NS