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. The learned Standing counsel opposes the prayer for any grant of installments. Considering the confined prayer made for instalments, it is directed that the proceedings shall be kept in abeyance on condition of the petitioner settling the entire loan in ten equal monthly instalments. The respondent-Bank shall quantify the dues as on 10.12.2014 and issue a statement of accounts, in accordance with which the instalments shall be paid. The 1st instalment shall be paid on or before 22.12.2014 and thereafter; the due date of WPC No.26299/2014 ::2::
instalments falling on the 22nd 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 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.
Sd/-
K.VINOD CHANDRAN, jma Judge //true copy// P.A to Judge