The petitioner is aggrieved by the proceedings taken against the petitioner's property for settlement of the defaulted amounts, in the housing loan account availed. 2.Considering the confined prayer made for instalments, it is directed that the sale 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 15.12.2014 and thereafter; the due date of instalments falling on the 15th 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 W.P.(C) No.525 of 2012 (M) 2 statement of the future interest from 10.12.2014 and the same shall be settled as the 11th instalment.
The petitioner shall produce a certified copy of the judgment before the respondent Bank within two weeks for further steps.
AMV/19/11/ sd/-
K.VINOD CHANDRAN, JUDGE