Court No. - 36 Case :- WRIT - C No. - 1062 of 2010 Petitioner :- Sanjay Singhal Respondent :- Syndicate Bank & Anr. Petitioner Counsel :- Santosh Tripathi,Deepak K. Jaiswal Respondent Counsel :- C.S.C.,A.K. Pandey Hon'ble Prakash Krishna,J.
Hon’ble Yogesh Chandra Gupta,J.
Heard the learned counsel for the petitioner.
None is present on behalf of respondent even in the revised list.
The petitioner has challenged the recovery proceedings initiated by the
respondents for recovery of the dues. Learned counsel for the petitioner has
urged that the petitioner is ready to pay the dues in four equal instalments.
After considering the submissions and perusing the records, we dispose of this
petition with the direction that the recovery proceedings against the petitioner
shall be kept in abeyance provided the petitioner pays the entire dues in four
instalments. The first instalment shall be paid by the petitioner by 15th
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. Any amount
deposited earlier by the petitioner shall be adjusted.
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
IB