Kesara Ram vs Sriganganagar Central Coop. Bank Ltd And Others

Vinit Kumar Mathur, J

The matter comes upon for consideration of the application with a prayer for vacating ex parte interim order dated 25.01.2021.

This Court vide order dated 25.01.2021, while issuing notices of writ petition as well as of stay petition has observed that if the petitioner deposits an amount of Rs.1,60,000/- with the respondent-Bank, the required demand of additional amount shall remain stayed till next date of hearing. Pursuant to the aforesaid order passed by this Court, the petitioner has already deposited amount of Rs.1,60,000/- with the respondent-Bank within the stipulated time.

Learned counsel for the petitioner has submitted that petitioner is ready to deposit remaining due amount in monthly installments of Rs.1,00,000/- per month.

Learned counsel appearing for the respondent-Bank has agreed that if the petitioner is allowed to deposit the whole due amount in installments, the respondent-Bank has no objection in it. Learned counsel for the respondent-Bank has also furnished statement of petitioner’s loan account and as per the said statement, till today, the due amount against the petitioner is Rs.5,43,539/-.

Taking into consideration the above submissions of the learned counsel for the parties and in the facts and circumstances of the case, it is ordered that the petitioner shall deposit five monthly installments of Rs.1,00,000/- each from December, 2023 to April, 2024 and shall also deposit the remaining amount of Rs.43,539/- in the month of May, 2023. The petitioner shall deposit the above installments by 15th of every month. If the petitioner deposits the whole due amount as above, the respondent-Bank shall clear the loan account of the petitioner.

It is made clear that if there is any default on the part of the petitioner in the above arrangement, the respondent-Bank shall be free to proceed against the petitioner in accordance with law.

With these observations, this writ petition is disposed of. Stay petition so also all the pending applications are also disposed of.