ASHOK KUMAR.D Vs. AUTHORISED OFFICER

JUDGEMENT

(1.) Petitioners as borrowers from the respondent bank, have committed default in repayment. Consequently, proceedings have been initiated by the bank for recovery of the amounts due.

(2.) During the course of hearing, petitioners have confined the relief to an opportunity for repaying the total outstanding amount in instalments.

(3.) It was submitted on behalf of the respondent bank that the petitioners committed default in repayment and the total outstanding amount is Rs.23,32,000.00. It was further submitted that though proceedings for recovery have been initiated, as a matter of indulgence, the respondent bank is willing to accept repayment of the total outstanding amount in limited instalments.