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Judgment
15 paragraphs · 300 wordsA. K. Yog, J.
The petitioner states that he is prepared to repay all balance loan amounts due to him in law provided he is required to be deposit it in instalments.
Respondents have no objection if petitioner makes payment and clears loan account as per instalments fixed by the Court.
In view of the above the petitioner is directed to deposit loan amount as per schedule and conditions mentioned hereinunder :
INSTALMENT SCHEDULE TO DEPOSIT
First deposit on or before 31st August, 2001 Rs. 50,000/
Second deposit on or before 30th November, 2001 Rs. 50,000/
Third deposit on or before 1st March, 2002 Rs. 50,000/
Fourth deposit on or before 30th June, 2002 Entire balance amount
has per bank account
statement.
Further, petitioner shall approach the RespondentBank, in writing while making third deposit and being so approached the Bank shall furnish in two weeks a detailed account statement giving full particulars, indicating all the deposits up to date.
While preparing loanaccount statement, Bank shall keep in mind the direction observation of in the judgments of Apex Court reported in 1994(5) Supreme Court Cases 213, Corporation Bankv. D.S. Gowda and another, as well as judgment reported in JT (1999) 1 SC 145, State Bank of Indiav. Yasangi Venkateswara Rao.
In case, petitioner makes payment as per schedule and complies with all the conditions noted above, no amount as collection charges shall be recovered. But in case petitioner fails to comply with any of the above conditions this order shall stand discharged forthwith on the date of default itself without reference to the Court and petitioner will also become liable to pay collection charges.
Writ Petition is allowed by moulding the reliefs subject to the direction and observation mand above.