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 recovery shall be kept in abeyance on condition of the petitioner settling the entire loan in ten equal monthly instalments. The petitioner shall produce a certified copy of this judgment before the third respondent within two weeks of its receipt. The respondent-Bank shall quantify the dues as on 11.01.2015 and issue a statement of accounts, in accordance with which the instalments shall be paid. The 1st instalment shall be paid on or before 19.01.2015 and thereafter; the due date of instalments falling on the 19th of each succeeding month. If default is committed in two W.P.(C)No.24568 of 2009 -: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 10.01.2015 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.