GURPREET SINGH Vs. STATE OF UTTARAKHAND

JUDGEMENT

(1.) Petitioner had admittedly taken a loan from the Central Bank of India, Kasbar, Kashipur, District Udham Singh Nagar, which he could not repay. Subsequently, a recovery citation dtd. 19/12/2018 has been issued against the petitioner, which he has challenged before this Court by means of the present writ petition.

(2.) Learned counsel for the petitioner has given a statement that if he is given some reasonable time to repay the loan, he shall repay the entire outstanding loan amount. Learned counsel for the respondent-bank submits that the bank is willing to take the amount in installments. The entire outstanding loan of the petitioner as of now is Rs.5,91,005.00 (Rupees Five Lakh Ninety One Thousand Five Only).

(3.) With the consent of all the parties, the matter stands disposed of with the following directions: The petitioner shall deposit an amount of Rs.1,00,000.00 (Rupees One Lakh Only) with the bank within a period of three weeks i.e. on or before 2/8/2019. In case the amount is deposited on or before 2/8/2019, the respondent-bank would then recover the remaining amount from the petitioner in equal monthly installments spreading over a period of one and a half years. It is made clear that recovery shall not include recovery charges.