Court No. - 36 Case :- WRIT - C No. - 47957 of 2010 Petitioner :- Nar Singh Respondent :- Branch Manager, Punjab National Bank And Others Petitioner Counsel :- Piyush Dubey,Ashok Kumar Respondent Counsel :- C.S.C.,B.N. Singh Hon'ble R.K. Agrawal,J.
Hon’ble Rajesh Chandra,J.
The petitioner had taken a loan of Rs. 2 lacs from Punjay National Bank,
Branch Shahzadi Mandi, Agra for the purpose of business under Prime
Minister Rojgar Yojna Scheme. The petitioner has not been able to repay the
amount of loan for which a demand notice has been issued on 5.2.2010 for
realisation of Rs. 1,76,000/-.
Sri B.N. Singh, learned counsel for the Bank states that the Bank has no
objection if the entire amount is paid in 12 equal monthly instalments along
with up to date interest.
In view of the willingness shown by the petitioner and not objected by the
learned counsel for the bank, we as a last opportunity direct the petitioner to
deposit the entire outstanding amount along with up to date interest in 12
equal monthly instalments. The recovery proceedings shall initially remains
stayed for a period of one month and, if the petitioner deposits the first
instalment, in that event, the recovery proceedings shall remain stayed for a
further period of one month and so on in order to enable the petitioner to
deposit the remaining instalments.
In the event of default in depositing any of the instalments, the interim
protection granted by this Court shall stand automatically discharged and the
authorities will be at liberty to proceed in accordance with law. On deposit of
the entire amount as per the demand notice, the demand notice dated 5.2.2010
shall stand withdrawn. The petitioner shall deposit the amount with the bank.
The petitioner shall also be liable to deposit 50% of the collection charges
with the respondent No. 1 after the entire amount is deposited and before the
withdrawal of recovery. The amount already deposited shall be adjusted in the
last instalment.
The writ petition stands disposed of.
Order Date :- 12.8.2010
Prabhat