JUDGMENT 1. We have heard Sri Juned Alam, learned counsel for the petitioner, the learned Standing Counsel appearing for the respondent nos. 1, 2 and 3 and Sri S.D. Sahai, learned counsel for the respondent no. 4- Central Bank of India. 2. The petitioner had taken loan from the respondent no. 4-Central Bank of India under Pradhan Mantri Rojgar Yojna for establishment of Rice Mill. It appears that there was some default in the payment of the loan, and consequently, recovery proceedings have been initiated against the petitioner. 3. Sri Juned Alam, learned counsel for the petitioner has stated that the petitioner is ready to clear off the entire dues of the Bank with up-to-date interest if time to deposit the same in instalments is granted. 4. Sri S.D. Sahai, learned counsel appearing for the contesting respondent no. 4-Bank has no objection to the aforesaid request. 5. In the circumstances, the present Writ Petition is disposed of finally with the following directions :- (i) The petitioner may deposit the entire amount sought to be recovered directly with the contesting respondent no. 4-Bank in three equal quarterly instalments with up-to-date interest. (ii) The first instalment may be deposited by 12th August, 2010, the second by 12th November, 2010 and the last/third by 12th February, 2011. Any amount already deposited will be adjusted. (iii) This order will not affect any auction or sale which may already have taken place. (iv) If the petitioner deposits the instalments with up-to-date interest, as fixed by this Court, in time, the recovery shall be kept in abeyance but if the petitioner defaults in paying any of the instalment, this order shall stand vacated and the respondents will be at liberty to proceed against the petitioner in accordance with law. (v) On deposit of all the instalments with up-to-date interest, as fixed by this Court, in time, the recovery proceedings against the petitioner will be dropped, and the recovery charges will not be recovered from the petitioner. (vi) This order will not be applicable if the petitioner has filed any earlier writ petition challenging the recovery of this loan.