The petitioner approached this Court claiming regularization, which was granted as per Ext.P1, on condition of payment of arrears. The respondent Bank contends that, though the arrears were paid, the regular monthly instalments were not be paid. However, the petitioner's contention is that, the petitioner has paid more than the arrears projected at the time of Ext.P1 judgment and that would necessarily satisfy the equated monthly instalments also. That may not suffice because, the regular instalments ought to have been paid in the due dates and if not paid, there would be interest on the same as also the arrears which had accrued at the time of Ext.P1 judgment. 2. In any event, now the respondent Bank submits that, an amount of Rs.37,000/- is in arrears. If the same is paid within one month from today, necessarily the W.P.(C) No. 13612 of 2014 2 regularization shall be done and the petitioner would also be liable to pay the regular equated monthly instalment on the due dates as per the original agreement. If default is committed in the payment of arrears, the recovery proceedings shall revive. Necessarily all amounts paid should be credited to the loan account.
Writ Petition is disposed of. No cost.
K. VINOD CHANDRAN, JUDGE SB