JUDGMENT Palok Basu, J. - Sri N.C. Rajvanshi, learned Counsel for the petitioner has been heard at length in support of this writ petition. The petitioner Smt. Radhika Devi and her husband, petitioner No. 2 Shri Sita Ram Lal have challenged the recovery proceedings initiated at the instance of Branch Manager, Bank of Baroda; Azamgarh. The recovery certificate issued by,the said Bank and forwarded to the Tehsildar Azamgarh for collection of the said amount ,through a citation has also been challenged. 2. Shri Hari Ashok Kumar, learned Counsel for the Bank and Shri Ram Vijay Singh, learned Standing Counsel have been heard in opposition. 3. Many questions have been raised by Shri Rajvanshi about the liabilities of both the petitioners in paying the loan which were admittedly advanced to Late Shri Bhageloo in the year 1981. It is not disputed that the loan was an agricultural loan and Shri Bhageloo died in the year 1983 leaving petitioner No. 1 Smt. Radhika Devi as the legal representative. It is also not disputed that opposite party No. 4, Shri Bhaskar was also responsible being a co loanee. 4. During the course of the arguments it was emphasised that the recovery certificate should be corrected and that the interest rate which has been fixed by the Bank at 13.5% are reduced to 12.5% and that compound interest was not payable. Correctness of this argument has been disputed by Shri Hari Ashok Kumar who has said that the interest is being rightly claimed and that recovery certificate against the three persons i.e. two petitioners and one Bhaskar respondent No. 4, has been rightly issued. 5. During the course of arguments Shri Rajvanshi pointed out that a sum of Rs. 48,900.00 was already paid according to the accounts existing with the Bank and that the petitioner No. 1 has deposited a sum of Rs. 25,000.00 with the Bank in compliance of the order of the Civil Judge, Azamgarh dated 20.12.1991. The recovery certificate (Annexure-4) indicates that the total amount payable as on 7.9.1992 was Rs. 1,10,315.20. This recovery certificate indicates that interest at the rate of 15% per annum w.e.f. 1.4.1989 has been charged and calculated in the said amount shown in the recovery certificate as due. The recovery certificate (Annexure-4) indicates that the total amount payable as on 7.9.1992 was Rs. 1,10,315.20. This recovery certificate indicates that interest at the rate of 15% per annum w.e.f. 1.4.1989 has been charged and calculated in the said amount shown in the recovery certificate as due. Shri Rajvanshi however, made it clear that so far as the petitioner No. 1 is concerned she is prepared to pay off the entire arrears as shown in the recovery certificate provided a correct statement of account is prepared by the Bank and the correct rate of interest is charged. It was also argued that since attachment/auction of the property mortgaged has not yet taken place no other coercive measures be taken against the petitioners 6. Another argument raised by Shri N.C. Rajvanshi, was that advantage to the petitioners should be given to the extent of 60% of the loan as their case may be covered by the provisions contained in the notification of the Reserve Bank of India whereby deposit Insurance Credit & Guarantee Corporation was established, to become entitled to which the original loanee had been paying premium. It is argued that in view of the aforesaid notification and terms contained therein the liabilities of the loanee should stand reduced to 40% of the loan amount. 7. It appears that more than Rs. 70,000/- has already been paid on behalf of the original loanee when the loan amount was Rs. 87,000/- only. However, if a sum of Rs. 20,000/- be deposited forthwith, the petitioners should be permitted to obtain the fresh account from the Bank after the Bank decides their representation if made properly. 8. Under the circumstances it will be open to the petitioners to approach the Bank with cash amount of Rs. 20,000/- on or before 18th of November, 1992 alongwith the representation raising two questions only viz. (1) the rate of interest payable and chargeable and (2) benefit to the extent.of 60% by the Deposit Insurance Credit & Guarantee Corporation is available to them or nor. After deciding the representation either way, the Bank may proceed to pass final order in regard to the recovery if any amount is payable. (1) the rate of interest payable and chargeable and (2) benefit to the extent.of 60% by the Deposit Insurance Credit & Guarantee Corporation is available to them or nor. After deciding the representation either way, the Bank may proceed to pass final order in regard to the recovery if any amount is payable. It will be open to the Bank to realise the amount from the petitioners in three equal instalments, the first one being payable on or before 8th of December, 1992 the 2nd will have to be paid on or before the 8th of February, 1993 and the last one payable on or before the 8th of April, 1993. Therefore, recovery proceedings will remain stayed till 18.11.1992 and would stand revived if the conditions imposed by this Order are not compiled with. 9. This writ petition was entertained and heard because Shri N.C. Rajvanshi made a statement on behalf of the petitioners that a Civil Suit No. 343 of 1991 filed by Smt. Radhika Devi shall be got dismissed as not pressed. Therefore, alongwith the deposit of Rs. 20,000/-, the petitioners will produce proof before the Bank that the said suit has been dismissed as withdrawn or not pressed. It is only then that this older shall be given effect to otherwise the recovery will proceed through to a recovery certificate already issued. 10. With the aforesaid discussions, this writ petition is finally disposed of at the admission stage.