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Court No.24
Writ Petition No. 4165 (MS) of 2010
Sunder Lal ... Petitioner
Versus
Collector and others ... Opposite parties
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Hon'ble Rajiv Sharma, J.
Heard Mr R. K. Yadav, Counsel for the petitioner and Mr
Anurag Srivastava, learned Counsel for the State Bank of India.
In nutshell, the case of the petitioner is that the petitioner
took loan of Rs.3,15,000/- from the State Bank of India, Rai Bareli
for purchasing a Tractor and paid certain amount to the
respondent no.3 but on account of financial crisis, the petitioner
failed to pay the remaining amount within the stipulated time to
the respondent-Bank and as such, the revenue authorities have
proceeded to initiate recovery proceedings to recover the amount.
Learned counsel for the petitioner submits that the
petitioner is ready to pay the outstanding amount in easy
installments, to which learned counsel for the respondents has no
objection.
Keeping in view the commitment of the petitioner, it is
provided that in case the petitioner deposits 25% of the
outstanding amount within a period of one month from today, the
recovery proceedings shall remain in abeyance and no coercive
method shall be adopted against the petitioner. It is further
provided that the petitioner will deposit the remaining balance of
the outstanding dues in six equal quarterly instalments. The first
instalment will fall due in November, 2010. The last instalment will
also carry the interest amount. The instalments shall be paid by
5th to 15th of the calendar month. In case of default of the above
conditions, the benefit of this order will not be extended to the
petitioner and the respondents shall be entitled to recover the
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entire outstanding loan amount in one lump sum.
With these observations and directions, the writ petition is
finally disposed of.
Dt.28.7.2010
HM/