SHIJO VARGHESE Vs. PNB HOUSING FINANCIAL LTD.

JUDGEMENT

(1.) The petitioner is aggrieved with the recovery proceedings initiated against the petitioner. The petitioner was directed, by order dated 19.01.2017, to pay Rs.50,000/- within two weeks.

(2.) The learned Counsel for the respondent Bank submits that the same has not been paid. However, the learned Counsel appearing for the petitioner submits that the petitioner approached the Bank with the amount and the same was refused to be accepted and, hence, the petitioner has taken a Demand Draft and sent it by registered post to the Bank. The petitioner also produces the copies of the Demand Draft and the registered acknowledgment due card across the Bar.

(3.) The learned Counsel for the respondent Bank submits, on instructions, that about Rs.3,00,000/- is due to the respondent Bank and if Rs.50,000/- has been received, then, the balance defaulted arrears would be Rs.2,50,000/-.