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Judgment
12 paragraphs · 201 wordsManoj Kumar Tiwari, J
Petitioner took a loan (Cash Credit Limit) of Rs. 35,00,000/- from Punjab National Bank, Branch Laksar, District Haridwar. Since petitioner
defaulted in repayment of the amount of loan, therefore, proceedings for recovery have been initiated against him. Thus, feeling aggrieved, petitioner
has approached this Court.
After arguing for a while, learned counsel for the petitioner submits that petitioner is ready and willing to repay the entire loan amount, but some
reasonable time may be given to him for the purpose.
Mr. Siddhartha Jain, learned counsel for the respondent-bank submits that if petitioner approaches bank authorities by filing a representation, the
same shall be considered, in accordance with law.
Having regard to the facts and circumstances of the case, the writ petition is disposed of with liberty to the petitioner to approach the bank
authorities by making representation within ten days from today. Along with representation, petitioner shall also deposit a sum of Rs. 1,00,000/- with
the bank in order to show his bona fide. If petitioner makes such representation and also deposits Rs. 1,00,000/- within stipulated time, then the bank
authorities shall consider petitioner’s request, in accordance with law, within two weeks thereafter.