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Judgment
Heard Smt.Smruthi Sasidharan, learned counsel for the petitioner and Sri.Lal K.Joseph, learned Standing Counsel for the respondent Bank.
These two writ petitions have been filed by the same petitioner seeking to challenge the coercive proceedings under the SARFAESI Act, for realisation of arrears of loan liability payable by her to the respondent Bank. The learned counsel for the petitioner points out that the petitioner is ready and willing to regularise the loan accounts, provided reasonable opportunities granted to her.
The learned Standing Counsel for the respondent bank on the basis of the instructions received would point out that altogether there are 11 loan accounts availed by the petitioner and the overdue payable by her is to the extent of Rs.21,19,054/- (Rupees twenty one lakh nineteen thousand fifty four only).
Taking note of the submissions made as above, as well as the wiliness pointed out by the petitioner to regularise the loan accounts, this Court is of the opinion that an opportunity can be granted to the petitioner.
Hence, these writ petitions would stand disposed of as under:
The petitioner is permitted to clear the overdue as above in 11 monthly installments commencing from 10.12.2026.
The petitioner is also to remit the regular EMIs and such other charges payable to the respondent bank.
If two successive installments are defaulted, the benefits of this judgment would stand recalled.