Ashok Bhushan, Ag.CJ
Heard learned counsel for the petitioner and the learned counsel appearing for the respondent.
2. This writ appeal has been filed against the judgment dated 25/09/2014 in W.P.C.No.24614/2014, by which the learned Single Judge disposed of the writ petition permitting the petitioner to deposit the defaulted instalments in ten equal monthly instalments. The first instalment was to be deposited on 20/10/2014.
3. The learned counsel for the appellant submits that the appellant had attained superannuation on 31/03/2014 and has deposited an amount of Rs.1,00,000/- on 11/10/2014. It is further submitted that in view of the marriage of the daughter of the appellant, he may be given some more time to clear off the liability of the housing loan.
The learned Single Judge, by the judgment impugned, has exercised his discretion in granting ten equal monthly instalments to repay the outstanding liability. However, having considered the aforesaid factual situation, we dispose of the writ appeal with the following directions:
i) The appellant shall deposit the first instalment on or before 20/11/2014.
ii) The entire amount shall be cleared by the appellant within a period of one year, that is, by 20/11/2014.
iii) In the event of any default in making the payment, it shall be open for the bank to proceed against the petitioner in accordance with the SARFAESI proceedings.
(sd/-) (ASHOK BHUSHAN, ACTING CHIEF JUSTICE) jsr (sd/-) (A.M.SHAFFIQUE, JUDGE)