- (1.) The Petitioner has taken a loan of Rs. 5,07,000/- for construction of his house from Respondent No. 3 in the year 4 2003, which was to be paid in equated monthly installments to the Respondent Bank. According to the Petitioner due to unforeseen circumstances he could not pay the installments on account of which the Respondent Bank is proceeding against the Petitioner under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the Act ) for the realisation of loan amount etc.
(2.) We have heard Sri Ramesh Chandra Agrahari, Learned Counsel for the Petitioner and Smt. Archana Singh, Learned Counsel for the Respondent-Bank and have perused the averments made in the writ petition.
(3.) Learned Counsel appearing for the Petitioner states that the Petitioner is prepared to repay the entire outstanding dues along with interest and expenses on pro-rata basis in installments.;