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Judgment
6 paragraphs · 216 wordsManoj Kumar Tiwari, J
Petitioners are borrower, who defaulted in re-payment of the loan, therefore, the respondent-Bank has proceeded to recover the amount by adopting coercive measures.
In this writ petition, petitioners have challenged the recovery citation issued by Tehsildar, Roorkee for recovery of Rs. 5,14,446/- and Rs. 2,86,664/- respectively.
Learned counsel for the petitioners submits that petitioners are poor farmers who, due to ill health and other difficulties, could not re-pay the loan. He further submits that petitioners want to repay the loan and all they want some reasonable time for arranging necessary funds.
Learned counsel for the respondent-Bank submits that if petitioners approach the Competent Authority in the Bank with an offer and also deposits some amount to show their bonafide, then the Competent Authority shall consider the same and take appropriate decision thereupon.
Accordingly, the writ petition is disposed of with liberty to petitioners to make representation to Competent Authority in the respondent-Bank. If petitioners make such representation within ten days from today alongwith upfront deposit of Rs. 50,000/-, then the Competent Authority in the Bank shall look into the proposal of the petitioners and take appropriate decision, in accordance with law, within two weeks from the date of receipt of representation alongwith certified copy of this order.