Court No. - 21 Case :- WRIT - C No. - 35475 of 2010 Petitioner :- Ram Rakhan Respondent :- State Of U.P. And Others Petitioner Counsel :- S.D. Dwivedi Respondent Counsel :- C.S.C.,A.C. Tiwari Hon'ble Sabhajeet Yadav,J.
Heard learned counsel for the petitioner, learned Standing Counsel for the
State and Sri A.C.Tiwari, learned counsel for the respondent-bank.
It is stated by learned counsel for the petitioner that the petitioner has taken
loan for a sum of Rs. 2,60,000/- from the respondent-bank but due to adverse
situation the petitioner could not deposit some installments. On 20.05.2010
the respondent no.2 issued a recovery citation of Rs. 7,14,463/- plus others
against the petitioner.
The petitioner is ready to deposit the same in easy installments. Therefore, the
petitioner is permitted to deposit the loan amount in 25 equal quarterly
installments. The first installment shall be paid by the petitioner within a
period of three months from today. Rest of installments shall be paid at an
interval of three months. In case the petitioner deposits the first installment
within stipulated time, the recovery proceeding pending against him shall be
suspended. No collection charges shall be realized from the petitioner.
It is made clear that in case of default in payment of any of the installments as
aforesaid, this order shall stand automatically vacated and the respondent
bank will be at liberty to realize the entire amount in accordance with law.
With the aforesaid observation and direction, writ petition stands disposed of
finally.
Order Date :- 17.6.2010
S.Ali