By present writ petition, the petitioner has challenged the recovery citation dated 09.01.2019, by which an amount of Rs.98,049/- is sought to be recovered from the petitioner.
Learned counsel for petitioner submits that the petitioner is ready and willing to deposit the entire loan amount with the respondent-Bank in easy instalments.
Learned counsel for respondents have no objection in case the petitioner deposits the loan amount in instalments. He further submits that as on date, Rs. 1,06,389/- is due against the petitioner.
In view of aforesaid, with the consent of parties' counsel, the following order is passed.
The petitioner is permitted to deposit an amount of Rs.15,000/- with the respondent bank within a month from today and rest amount in eight equal installments within two years. The interest shall be paid with the last instalment.
The amount, if any, already deposited by the petitioner, shall be taken into consideration while fixing the instalments.
In case of failure to deposit the two consecutive instalments by the petitioner, it shall be open for the respondent authorities to initiate recovery proceedings against the petitioner in accordance with law.
With the aforesaid, the writ petition is disposed of.
Order Date :- 27.8.2019 AKS (Vivek Chaudhary,J.)