Ranjit Kumar Verma v. State of U. P. Thru. Secy. Revenue Deptt.
2016-07-18
ANANT KUMAR, NARAYAN SHUKLA
body2016
DigiLaw.ai
JUDGMENT Notice on behalf of respondent No.4 has been accepted by Shri Vinay Shanker, learned Advocate. 2. The petitioner is aggrieved with the recovery citation dated 4.3.2016 issued by the Bank. However, without disputing the liability of loan he has shown his willingness to pay it, but in installments as he has shown some financial constraints in repayment of loan in lump sum. 3. Therefore, considering his submission, we hereby stay the recovery proceedings initiated against the petitioner, provided the petitioner deposits the whole amount in eight equal quarterly installments, the first of which shall be deposited within two months from today and rest of the amount shall be deposited in seven equal quarterly installments. The second installment shall become due on 18 December 2016. Accordingly the petitioner shall continue to deposit the rest of the installments with up to date interest with the Bank. Before deposition of the last installment, the petitioner shall be provided the statement of account by the Bank. 4. In case the petitioner has made certain payments, and the adjustment of which has not been made in the amount demanded, it will be open to the petitioner to give proof of the same to the Bank and if such a proof is given, the Bank shall adjust the said amount. 5. In case the petitioner commits any default in complying with any of the aforesaid conditions, the benefit of this order would not be available to the petitioner and it will be open to the opposite parties to realize the entire amount due in accordance with law. With the above directions, the writ petition is disposed of finally.