IMRAN KHAN Vs. PUNJAB AND SIND BANK

JUDGEMENT

(1.) According to the petitioner, in the year 2014, he took a loan of Rs.15,00,000.00 from Punjab & Sind Bank, Branch Khatima, District Udham Singh Nagar.

(2.) Since petitioner has defaulted in repayment of the loan, therefore, bank has initiated proceedings for recovery of the amount. Thus, feeling aggrieved, petitioner has approached this Court seeking direction to respondent-bank to accept the remaining amount, in six quarterly instalments.

(3.) Learned counsel appearing for the petitioner submits that due to Pandemic caused by COVID-19 and subsequent lockdown imposed by the Government, petitioner's business was badly hit, as a result, some default was committed in timely repayment of the loan. He assures the Court that if given opportunity to repay the loan in instalment, petitioner would liquidate the money as early as possible.