JUDGMENT : C.T. RAVIKUMAR, J. 1. This intra court appeal is filed against judgment dated 6.3.2017 in W.P. (C) No. 5384/17. The petitioner availed a loan of an amount of Rs. 75,76,000/- from the Kalpetta Branch of Corporation Bank for purchasing of two tourist buses. The failure on the part of the petitioner to pay the equated monthly instalments as per the original agreement constrained the second respondent to initiate steps for re- possessing the vehicle and also to recover the amount due towards the loan account. Earlier, the petitioner had approached this Court on two occasions when such steps were initiated by the second respondent. On a previous occasion, he filed W.P. (C) No. 17124 of 2014 when one of the vehicles was re-possessed by the second respondent. As per Ext.P3 judgment, this Court disposed of the said writ petition directing for the release of the vehicle on payment of Rs. 6.5 lakhs within one month from the date of the said judgment. The petitioner was also directed to pay the defaulted arrears in three further instalments commencing from 12.10.2014. The subsequent instalments were ordered to be effected on 12th day of each succeeding month. He was also directed to make payment towards equated monthly instalments as per the original agreement. Liberty was granted to the second respondent bank to proceed with the proceeding initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "SARFAESI Act") from the stage on which it was kept in abeyance in case of two consecutive defaults. In such eventuality, the petitioner was directed to surrender the vehicles without any demur, to the second respondent bank. It was also made clear that such facilities would be available to the petitioner only on compliance with the direction for payment of an amount of Rs. 6.5 lakhs, within the time stipulated thereunder. Admittedly, the petitioner could not comply with the directions in full though he had made a payment of Rs. 6.5 lakhs and effected some payments towards other instalments including equated monthly instalments as originally scheduled. In other words, he failed to effect payment towards equated monthly instalments as per the original agreement though he had made certain payments towards the loan account. That constrained the second respondent to initiate fresh proceeding for recovery and re-possession. 6.5 lakhs and effected some payments towards other instalments including equated monthly instalments as originally scheduled. In other words, he failed to effect payment towards equated monthly instalments as per the original agreement though he had made certain payments towards the loan account. That constrained the second respondent to initiate fresh proceeding for recovery and re-possession. It is to be noted that though as per Ext.P3 judgment, the second respondent was given liberty to proceed with the recovery proceeding from the stage at which it was kept in abeyance the second respondent initiated fresh proceedings under the SARFAESI Act. That constrained the petitioner to approach this Court again by filing W.P. (C) No. 5384 of 2017. The learned Single Judge, as per judgment dated 6.3.2017, dismissed the said writ petition. Hence, this appeal. 2. We have heard the learned counsel for the petitioner and also the learned counsel for the second respondent, various contentions were raised by both sides. However, in view of the submissions made across the bar by the learned counsel on both sides to settle the matter amicably, we are of the considered view that, we need not go in detail with respect to the various grounds as also the contentions made against judgment dated 6.3.2017 in W.P. (C) No. 5384 of 2017. The learned counsel appearing for the second respondent submitted that hitherto, the petitioner had paid a total amount of Rs. 35,37,804/- towards the loan account. The total amount due towards the said loan account as on 30.4.2017 was Rs. 83,71,062/-. The interest payable therefor, was Rs. 36,41,047/-. The learned counsel for the petitioner submitted that the entire amount now outstanding against the said loan account would be paid off by the petitioner in 12 equal monthly instalments. The extract of the account made available in draft would reveal that after Ext.P3 judgment, the petitioner has effected certain payments. Going by the submissions, he had paid only an amount of Rs. 35,37,804/- towards the said loan account. Taking note of all such aspects and after hearing the learned counsel on both sides, we are inclined to pass the following order:- The petitioner is permitted to pay off the entire amount in 12 equal monthly instalments. The petitioner shall commence payment towards 12 instalments, as permitted, from 20.6.2017. The further instalments shall be made on or before 20th day of each succeeding month. The petitioner shall commence payment towards 12 instalments, as permitted, from 20.6.2017. The further instalments shall be made on or before 20th day of each succeeding month. In case of two consecutive defaults, the second respondent would be at liberty to proceed with the recovery proceedings already effected under the SARFAESI Act. In such eventuality, the petitioner shall surrender the vehicles without any demur to the second respondent bank. We make it clear that the above conditions and facilities would apply and available only if the petitioner makes the first among the 12 instalments on or before 20.6.2017. Writ appeal is allowed as above.