The petitioners are aggrieved by Ext.P4 sale notice issued by the 2nd respondent for settlement of the defaulted amounts, in the loan account availed by the 1st petitioner. 2. Considering the confined prayer made for instalments, it is directed that the sale shall be kept in abeyance on condition of the petitioners settling the entire loan in ten equal monthly instalments. The respondent-Bank shall quantify the dues as on 30.11.2014 and issue a statement of accounts, in accordance with which the instalments shall be paid. The 1st instalment shall be paid on or before 11.12.2014 and thereafter; the due date of instalments falling on the 11th of each succeeding month. If default is committed in two consecutive WP(C).4061/10 2 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 30.11.2014 and the same shall be settled as the 11th instalment.
The writ petition stands disposed of as above, leaving the parties to suffer their respective costs.
Sd/-
K.VINOD CHANDRAN Judge Mrcs //True Copy//