The petitioner admittedly took three loans from the respondent Bank all of which have been defaulted. The learned counsel appearing for the Bank submits that in fact, the loans were taken for one business and he has changed the business itself without informing the Bank. The learned Standing Counsel appearing for the Bank submits that unless substantial payments are made, there can be no interdiction of the Bank's recovery proceedings. The learned counsel appearing for the petitioner however, would seek six months' morotorium. In such circumstances, there shall be a direction to remit the balance instalments in three by-monthly instalments, ie on WP(C).13651/14 2 free to revive the recovery proceedings already initiated. Writ petition disposed of.
Sd/-
K.VINOD CHANDRAN, Judge Mrcs //True Copy//