Court No. - 21 Case :- WRIT - C No. - 35561 of 2010 Petitioner :- Ramveer Singh And Others Respondent :- State Of U.P. And Others Petitioner Counsel :- Ghan Shyam Das Respondent Counsel :- C.S.C.,Siddharth Hon'ble Sabhajeet Yadav,J.
Heard learned counsel for the petitioners, learned Standing Counsel for the
State and Sri Siddhartha, learned counsel for the respondent-bank.
It is stated by learned counsel for the petitioners that the petitioners have
taken loan for a sum of Rs. 4,10,000/- from the respondent-bank but due to
adverse situation the petitioners could not deposit some installments. On
25.01.2010 the respondent-bank issued a recovery certificate of Rs. 4,31,320/-
plus others against the petitioners.
The petitioners are ready to deposit the same in easy installments. Therefore,
the petitioners are permitted to deposit the loan amount in 15 equal quarterly
installments. The first installment shall be paid by the petitioners within a
period of three months from today. Rest of installments shall be paid at an
interval of three months. In case the petitioners deposit the first installment
within stipulated time, the recovery proceeding pending against them shall be
suspended. No collection charges shall be realized from the petitioners.
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