Ishwar Singh vs Tehsildar and another

Hon''ble V.K. Bist, J.—Heard learned counsel for the parties.

The petitioner, by means of this writ petition, has prayed for a writ, order or direction in the nature of certiorari to quash the recovery notice dated 26.11.2011 issued by respondent No. 1.

Brief facts giving rise to the present case are that in the year 2000, the petitioner had taken a loan of Rs. 80,000/- from the respondent Bank, but on account of some unavoidable circumstances and financial crisis, he could not repay the loan amount. On 26.11.20011, respondent Bank issued a recovery notice for a sum of Rs. 1,37,852/- against the petitioner. Hence, the present writ petition.

Learned counsel for the petitioner has submitted that the petitioner is ready to deposit the entire amount along with recovery charges and interest in easy equal installments. Learned counsel for the respondent Bank has also submitted that the Bank will have no objection, in case, the entire amount with recovery charges and interest is deposited in installments, but he submitted that the first installment should be deposited within a month.

Considering the submissions of the learned counsel for the parties, it is directed that no coercive steps shall be taken against the petitioner, in case the petitioner deposits the entire loan amount with interest and other charges in six equal quarterly installments. It is made clear that the first installment will be deposited by 15th March, 2012 and rest five installments shall be paid equally on or before 15th June, 2012, 15th September, 2012, 15th December, 2012, 15th March, 2013 and 15th June, 2013. It is also made clear that in case of any default in payment of the installments, the order passed by this Court shall stand vacated and the respondent Bank will be entitled to recover the entire amount from the petitioner. It is also made clear that the petitioner shall pay the last installment along with recovery charges as well as interest.

With the aforesaid direction, the instant writ petition is disposed of.

All the pending applications are also disposed of.