ASMABI W/O KUNJALANKUTTI Vs. AUTHORISED OFFICER

JUDGEMENT

(1.) PETITIONER is the defaulter of a loan of Rs.5 lakhs availed of from the second respondent bank. As a result, SARFAESI proceedings were initiated. Finally, the bank has issued Ext.P3 possession notice. It is at that stage, this writ petition is filed and the prayer made is for an instalment facility.

(2.) HEARD the learned standing counsel for the respondents also.

(3.) TAKING note of the request made, I dispose of this writ petition directing the petitioner to pay Rs.1,00,000/ - on or before 30.3.2013. If payment is made as above, the petitioner will be allowed to pay the balance amounts due in 9 equal monthly instalments. The first instalment shall be paid on or before 30.4.2013 and the subsequent instalments shall be paid on or before the last working day of every succeeding months.