NETRA PAL Vs. STATE OF U P

JUDGEMENT

(1.) HEARD learned counsel for the parties. Petitioner has obtained two loans, one for the agricultural purposes and other for purchase of tractor. Recovery proceedings in respect of both the loans have been initiated. Counsel for the petitioner submits that he is ready and willing to deposit the entire amount due, provided he is granted some reasonable time for deposit of money. Counsel for the respondent Bank agrees to deposit of the money in installments to be fixed by this Court. In view of the aforesaid, it is provided as follows : (a) The petitioner shall deposit one fourth of the total amount demanded on or before 30th June, 2009. (b) Within one week of the said deposit of money, petitioner shall make an application before the Bank furnishing the statement of account including the money due up to date along with certified copy of this order. (c) The Branch Manager shall furnish a complete statement of account within two weeks, thereafter. (d) Petitioner shall deposit the balance outstanding amount so shown in the statement of account in three equal installments of three months each, commencing from 30th September, 2009. (e) Recovery proceedings against the petitioner shall remain in abeyance up to 30th June, 2009 at the first instance and in case payments are made, as indicated above, no coercive action shall be taken against the petitioner in pursuance to the said recovery certificate. In case of default in compliance of any of the conditions mentioned above, the petitioner shall not be entitled to the benefits of this order and it shall be open to the respondent bank to recover the balance amount in accordance with law. If the deposits are made in terms of this order by the petitioner, he shall not be liable to pay any recovery charges. With the aforesaid observations, the writ petition is disposed of.