ARJUN PRASAD AGARWAL Vs. INDIAN OVERSEAS BANK

JUDGEMENT

(1.) Heard the parties.

(2.) This C.M.P. Has been filed for extension of time for paying the amounts in terms of the order dated 30/08/2010. It is submitted by the learned counsel for the petitioners that out of the dues of Rs. 5,32,146.50 paise, the petitioners deposited two installments as per the said order, but he could not deposit the 3 rd and 4 th installments for the reasons stated in the petition, and therefore, the time to deposit the same may be extended. Referring to Annexure-C to the counter affidavit to the writ petition, he submitted that on 06/07/2010 the present outstanding on that day was shown as Rs. 5,32,146.50 paise and, accordingly, the said order was passed in the writ petition but now the bank is asking for higher amount.

(3.) On the other hand, learned counsel appearing for the bank submitted that the order dated 30/08/2010 was passed on petitioners' readiness and willingness to pay the dues of the bank if some time was granted. Referring to Annexure A dated 1.9.2006 (to the counter affidavit filed in the writ petition) he submitted that in the letter dated 06/07/2010 it was noted that the loan account is NPA in the books of the bank from 30/06/2006 and, accordingly, the interest was not shown alongwith outstanding amount of Rs. 5,32,146.50.