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Judgment
Arindam Sinha, J
The writ petition has been listed under heading ‘To be Mentioned’ at instance of parties, to effect a working solution arising on default committed by petitioner in paying Equated Monthly Installments (EMI) of Rs.70,590/-. Mr. Mohapatra, learned advocate appears on behalf of petitioner and submits, his client has submitted two demand drafts of aggregate Rs.2.5 lakhs payable to the financer. Drawing attention to para-9 in the counter he submits, as on 7th June, 2022 outstanding on arrear EMIs was Rs.3,52,582/-. There be direction upon the financer to accept said sum of Rs.2.5 lakhs and allow his client to liquidate the arrears in installments. His client will continue to pay current installments falling due.
Mr. Ray, learned advocate appears on behalf of the financer (opposite parties) and submits, there be direction for petitioner to deposit minimum of Rs.3.5 lakhs for his client to consider allowing petitioner to liquidate the arrears in installments along with paying current installments falling due.
Petitioner will approach the financer by 31st October, 2022 with Rs.3.5 lakhs. In event petitioner does so, the financer will consider allowing liquidation of the arrears by installments, in addition to petitioner paying current installments falling due.
The interim order will continue till 31st October, 2022, after which it will stand automatically vacated. The demand drafts are returned to Mr. Mohapatra.
The writ petition is disposed of.
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