The default committed by the petitioner satisfying the amounts due under various chit transactions towards the first respondent, made the respondents to proceed against the petitioner by way of RR proceedings. This made the petitioner to approach this Court by filing the writ petition. 2. The learned counsel for the petitioner submits that the petitioner does not intend to dispute the liability and the prayer is only to enable him to liquidate the same by way of reasonable instalments.
3. The learned Standing counsel appearing for the first respondent submits that, the total outstanding liability as on date is nearly `9,55,735/-. It is also brought to the notice of this Court that, the petitioner had approached W.P.(C) No. 29450 of 2014 (E) 2 the Government against the recovery steps, when interim stay was granted, subject to satisfaction of the liability by way of instalments, which was not complied with.
4. The learned counsel for the petitioner submits that the Government granted only three instalments. However, this Court does not propose to probe into such factual particulars, in so far as the petitioner submits that the petitioner is ready to satisfy the entire liability, for which some breathing time is sought for by way of reasonable installments.
5. Considering the extent of liability and the submissions made across the Bar, this Court permits the petitioner to liquidate the liability by way of 'ten' monthly instalments. The initial 'nine' instalments shall be @ `1,00,000/- (Rupees One lakh only) each and the last one shall be for the deficit amount, so as to top up the figure and to have the loan account closed. The first W.P.(C) No. 29450 of 2014 (E) 3 instalment shall be effected on or before the 30th of November, 2014, followed by similar instalments on or before the 30th of the succeeding months.
6. Subject to this, the recovery proceedings shall be kept in abeyance for the time being. If any default is committed in satisfying the amount as above, it will be open for the respondents to proceed with further steps for realization of the entire amount in a lump, from the stage where it stands now.
Writ petition is disposed of.
AMV/10/11/ Sd/- P.R.RAMACHANDRA MENON, JUDGE