Hon'ble Saurabh Lavania,J.
Heard Sri Deepak Singh, learned counsel for the petitioner, Sri Siddharth Nandwani, Advocate holding brief of Sri Prashant Kumar, learned counsel appearing on behalf of opposite parties and perused the record.
With the consent of the parties' counsel, writ petition is disposed of finally at the admission stage.
Facts of the present case are that petitioner has been granted Cash Credit Limit of Rs. 10.75 lakh by Punjab nation bank, B\ranch Dalmau, District Raebareli. However, due to some financial crunch, the petitioner could not pay the installment in time, as such recovery certificate has been issued against her.
In view of the of the abovesaid facts, the petitioner approached this Court for redressal of his grievances by filing present writ petition under Article 226 of the Constitution of India.
Learned counsel for petitioner at the very outset submits that petitioner is agreed to pay the amount due against her in respect to which the recovery certificate has been issued in easy installments.
Respondents' counsel submits that he has no objection in case petitioner pays the entire dues in easy installments.
Thus, keeping in view the aforesaid facts, a direction is issued to the petitioner to deposit Rs. 2,50,000/- (Two lakh Fifty Thousand only) out of the amount due against her in respect to which the recovery certificate is issued on or before 15.09.2019, remaining amount shall be deposited by her thereafter in four equal quarterly installments. At the time of payment of third installment, the respondent-Bank shall provide statement of account, including interest as assessed by the Bank, that what amount is to be paid by the petitioner in last installment. The first installment shall be paid by her on or before 15.12.2019.
If Rs. 2,50,000/- (Two lakh Fifty Thousand only) is deposited by petitioner within time frame as fixed hereinabove, no coercive measure shall be taken against her in pursuance to the recovery certificate.
However, in the event of default of any of the payment of dues as mention above, it shall be open to the respondents to proceed against petitioner in pursuance to recovery certificate in accordance with law.
Subject to above, writ petition is disposed of finally.
(Saurabh Lavania, J.) (Anil Kumar, J.) Order Date :- 26.7.2019/Ravi/