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Judgment
Hrishikesh Roy, CJ
In pursuance to our last order dated 23.5.2019, the appellant who had secured two loans from the Kallambalam Branch of the Corporation Bank,
has remitted Rs.2,00,000/- to the Bank. The payment so made would indicate that the appellant is willing to clear the outstanding loan dues. The
grievance of the borrower however relates to the unbearable instalment payment, stipulated by the learned single Judge.
On consideration of the above projection made by Smt.Lekha.V.R. as the learned counsel for the appellant and then hearing Sri.S.B.Premachadra
Prabhu, the learned counsel appearing for the respondents Bank and taking note of the recent remittance of Rs.2,00,000/- on 30.5.2019 by the
borrower, we deem it appropriate to permit repayment of the outstanding dues of both the loan accounts (stated to be Rs.8,00,000/-), in six equal
monthly instalments, commencing from 1.7.2019. It is made clear that this shall be in addition to the regular instalments payable in accordance with the
original loan schedule in both loan accounts. If the petitioner makes the payment in terms of the conditions aforementioned, the recovery steps, if any,
initiated by the Bank shall be kept in abeyance. On the other hand, if the petitioner defaults any instalment, it will be open to the Bank to proceed with
recovery proceedings.
With the above order, the Writ Appeal is closed.