KULWANT SINGH Vs. COLLECTOR

JUDGEMENT

(1.) Petitioner had admittedly taken a loan of Rs.1,90,000.00 (Rupees One Lakh Ninety Thousand Only) from the Punjab National Bank, Branch A.D.B. Kashipur, District Udham Singh Nagar, which he could not repay. Subsequently, a recovery citation 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 the petitioner is given some reasonable time to repay the loan, he is willing to 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.2,11,251.00 (Rupees Two Lakh Eleven Thousand Two Hundred Fifty One Only).

(3.) With the consent of all the parties, the matter stands disposed of with the following directions: