P.V.MAJEED Vs. DISTRICT COLLECTOR

JUDGEMENT

(1.) HEARD the learned Senior Counsel for the petitioners, learned Government Pleader appearing for respondents 1 and 2 and the learned standing counsel appearing for respondents 3 and 4.

(2.) PETITIONERS 1 to 3 along with certain others, availed of a loan from the respondent Bank. According to the petitioners out of the sanctioned amount of Rs.334.00 lakhs they availed of only Rs.278.00 lakhs. As security, immovable property was offered. Default was committed and the Bank filed O.A.No.62/2012 before the Debt Recovery Tribunal, which is pending.

(3.) LEARNED Senior counsel for the petitioners says that though there is a dispute regarding the amount due, the petitioners will make payment of the admitted dues in installments, and that on such payment the respondents should be directed to keep the recovery proceedings in abeyance. He also says that in the meantime Tribunal should expeditiously dispose of O.A.No.62/2012 filed by the petitioner.