GEORGE ISAAC Vs. DISTRICT COLLECTOR

JUDGEMENT

(1.) HEARD both sides.

(2.) PETITIONER availed of a Kissan Cash Credit Loan and a Long Term Agricultural Loan from the respondent Bank. According to the counsel for the Bank the Kissan Cash Credit Loan of Rs. 1 lakh was availed of on an yearly basis and the other loan was repayable in installments of Rs.20,000/- each every six months.

(3.) BE that as it may, taking into account the limited nature of the relief sought for by the petitioner I direct the Bank to regularize the loan in question subject to the petitioner paying Rs.1 lakh on or before 31.3.2012 and the balance defaulted installments on or before 30.4.2012. If the payment is made as above, the revenue recovery proceedings shall be deferred. If payments are made as above, the loans will be regularized and the petitioner will be permitted to pay balance amounts in terms of the loan agreement. Writ petition is disposed of as above,