The petitioner is aggrieved with Ext.P1 sale notice issued for recovery of the loan amount remaining in default. 2. Considering the facts of the case and the confined prayer made for instalments, it is directed that the coercive steps pursuant to Ext.P1 notice shall be kept in abeyance on condition of the petitioner remitting an amount of Rs.1,00,000/- (One Lakh) on or before 18.07.2014 and the balance liability in nine equal monthly instalments. The respondents shall quantify the dues as on 30.06.2014 and issue a statement of accounts, in accordance with which the instalments shall be paid. The instalment shall commence on 18.08.2014 and thereafter; the due date of instalments falling on the 18th WP(C).15454/14 2 of each succeeding month. If default is committed in two consecutive instalments, then the recovery proceedings shall revive and continue. On the satisfaction of the dues as per the statement, the respondents shall give a statement of the future interest from 30.06.2014 and the same shall be settled as the 10th instalment.
The writ petition stands disposed of as above.
Sd/-
K.VINOD CHANDRAN, Judge Mrcs //True Copy// P.A. To Judge