- (1.) We have heard Sri Sandeep Kumar Singh, learned Counsel for the petitioner, the learned standing counsel appearing for the respondent Nos. 1 and 2 and Sri S. C. Srivastava, learned Counsel for the respondent No. 3-State Bank of India.
(2.) The petitioner had taken loan under the Prime Minister Rojgar Yojna from the respondent No. 3-State Bank of India for the purposes of opening General Merchant Shop. 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 Sandeep Kumar Singh, 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.;