Ashok Bhushan, Ag.C.J.
Heard learned counsel for the appellants as well as learned counsel appearing for the respondent/writ petitioner.
2. The respondent Bank is in appeal against the judgment dated 23.07.2014 in W.P.(C) No.21629 of 2014 passed by the learned Single Judge in which the Bank was directed to regularise the loan account and permitted the petitioner to pay the amount as per the original agreement subject to payment of entire defaulted amounts in 10 instalments.
3. Learned counsel for the Bank submits that the Court has directed that the Bank can proceed only when there are two consecutive defaults in the payment of instalments. He further submits that the time granted for payment of first instalment was too much and the petitioner was a chronic defaulter.
4. We have considered the submissions and perused the records. In the two loans taken by the petitioner, one is a housing loan and the another is a 'Suraksha' loan. The petitioner was directed to deposit Rs.18,000/- within a week which has been deposited by the petitioner.
5. The direction of payment of entire dues in 10 monthly instalments is a substantive one and need not be interfered by us. We, however, observe that directions of the learned Single Judge with regard to two consecutive defaults is modified and be read as 'any two defaults'.
The Writ Appeal is disposed of as above.
Ashok Bhushan, Acting Chief Justice.
A.M. Shaffique, Judge.
ttb/14/10