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Judgment
T.R. Ravi, J.
The petitioners have approached this Court seeking permission to wipe off the liabilities to the respondent Bank in instalments. The petitioners pray that they may be permitted to pay off the amounts in fifteen (15) instalments.
The learned counsel appearing for the respondent Bank submits that an amount of Rs.17,73,074/- is overdue.
In the above circumstances, the writ petition is disposed of directing the petitioners to pay the amounts due to the respondent Bank in fifteen (15) equal monthly instalments along with regular instalments, the first instalment becoming payable on or before 25.02.2023 and the subsequent instalments becoming payable on or before the 25th day of the succeeding months. If the petitioners make two consecutive defaults in the payment of instalments as directed above, the 2nd respondent will be at liberty to continue with the proceedings for recovery. Coercive steps for recovery shall be kept in abeyance for facilitating the payments by instalments as directed above.