GANESH MAURYA Vs. ALLAHABAD BANK
HIGH COURT OF UTTARAKHAND
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B.S. Verma, J. -
(1.) HEARD . By means of this writ petition, the petitioner has sought a writ in the nature of mandamus directing the respondents to permit the petitioner to repay the outstanding dues under the impugned recovery citation dated 14 -2 -2012 (Annexure No.2) in easy instalments.
(2.) THE petitioner took a loan/financial assistance on cash credit limit from the respondent no.1 -Bank to the tune of Rs. 6,80,650/ - for the purpose of enhancing honey business unit. It appears that the petitioner could not repay the loan amount, hence impugned recovery citation was issued against the petitioner. The petitioner is ready to pay the entire outstanding amount under the recovery citation in easy quarterly instalments. In the course of arguments, learned counsel appearing on behalf of the respondent no.1 -Allahabad Bank has submitted that the bank would have no objection if the petitioner pays half of the defaulted amount by the close of March 2012 and that rest of the amount is paid in not more than four equal quarterly instalments.
(3.) LEARNED counsel for the petitioner, on the other hand, has submitted that the petitioner is ready to pay a sum of Rs. 3,00000/ -( three lacs) before the recovery officer along with recovery charges by 31 -3 -2012.;
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