1. Learned counsel for the petitioner submits that substantial payments have been made and only a nominal amount is outstanding.
2. Heard Adv.Sri.T.R.Harikumar for the third respondent. Considering the confined prayer made for instalments, it is directed that the recovery shall be kept in abeyance on condition of the petitioner settling the entire loan in six equal monthly instalments. The petitioner shall produce a certified copy of this judgment before the respondent within two weeks of its receipt. The respondent-Bank shall quantify the dues as on 30.12.2014 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 10.1.2015 and thereafter; the due date of instalments falling W.P.(C)No.37750 of 2010 -:2:-
on the 10th of each succeeding month. If default is committed in paying one instalment, 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 30.12.2014 and the same shall be settled as the 7th instalment.
The writ petition stands disposed of as above. No costs.
K. Vinod Chandran, Judge.
sl.