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Judgment
15 paragraphs · 225 wordsManoj Kumar Tiwari, J
Petitioner took a loan from Almora Zila Sahkari Bank Ltd., Branch Garur, District Bageshwar. Since he defaulted in repayment of the loan,
therefore, proceedings for recovery have been initiated against him.
By means of this writ petition, petitioner has challenged the recovery citation issued by Tehsildar Garur for recovery of a sum of Rs. 2,40,663/- plus
other charges.
Learned counsel for the petitioner submits that petitioner is ready and willing to repay the entire outstanding amount; but, he prays that some
reasonable time be given to the petitioner for the purpose.
Mr. Jayvardhan Kandpal, learned counsel appearing for respondent no. 3 has no objection if reasonable time is given to the petitioner for repayment
of the amount of loan.
Accordingly, writ petition is disposed of with the following directions:-
I. Petitioner shall deposit a sum of Rs. 30,000/- with the concerned Bank within three weeks from today.
II. The remaining amount shall be deposited by the petitioner in instalments, spreading over a period of nine months, to be fixed by the bank.
III. In case of default in fulfilment of the aforesaid conditions, petitioner shall not be entitled of any benefit of this order and the respondent-bank is
free to proceed against the petitioner, in accordance with law.
IV. The recovery charges shall be waived off.