- (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.;