Court No. - 36 Case :- WRIT - C No. - 918 of 2010 Petitioner :- M/S. Prince Ice Factory & Anr. Respondent :- Punjab National Bank & Ors. Petitioner Counsel :- Vinod Sinha,Mahesh Sharma Respondent Counsel :- D. Vaish Hon'ble Prakash Krishna,J.
Hon’ble Yogesh Chandra Gupta,J.
Heard Sri Vinod Sinha, learned counsel for the petitioners and Sri D. Vaish,
learned counsel for the respondents Bank.
Sri Vinod Sinha, learned counsel for the petitioner submits that the petitioner
is prepared to deposit the balance amount in installments. As jointly agreed by
the learned counsel for the parties, the writ petition is disposed of on the
following terms:
The recovery proceedings against the petitioner shall be kept in abeyance
provided the petitioner pays the entire balance amount in four equal
instalments. The first instalment shall be paid by the petitioner by 15th of
February 2010, the second instalment shall be paid by 15th May 2010, the
third instalment shall be paid by 15th August 2010 and the last instalment
shall be paid by the petitioner by 15th November, 2010.
It is made clear that in case of default in payment of any of the instalments as
aforesaid, this order shall stand automatically vacated and the respondents
will be at liberty to realize the entire amount in accordance with law.
Order Date :- 12.1.2010
ALS