VINEET SARAN, J. - (1.) THE appellants are aggrieved by the order dated 20th December, 2001 passed by the learned Single Judge in Civil Misc. Writ Petition No. 41020 of 2001, reported in (2002) 1 UPLBEC 359, dismissing their writ petition, which is under challenge in this Special Appeal.
(2.) WE have heard Sri K.P. Agarwal, Senior Advocate, assisted by Ms. Suman Sirohi for the appellants; Sri Pankaj Bhatia learned Counsel for the respondent No. 4 Bank; and the Standing Counsel for the respondents No. 1 to 3. The brief facts as borne out from the record are that the appellant No. 1 (M/s. Gokul Dairy, a partnership firm) and its partners appellants No. 2, 3 and 4 had applied for loan of Rs. 13.53 lakhs from respondent No. 4, Bank of India. Admittedly, a term loan of Rs. 8.53 lakhs was sanctioned and disbursed by the bank and further a cash credit limit of Rs. 5 lakhs was sanctioned in favour of the appellants. The appellants, who had availed the loan, were unable to pay it back. On the appellants defaulting in repayment of the loan, initially a recovery certificate dated 10.5.1999 was issued for a sum of Rs. 12,56,634/- for recovery of the amount from them as arrears of land revenue.
(3.) CHALLENGING this recovery the appellants filed a Writ Petition No. 23269 of 1999, which was disposed of by a learned Single Judge of this Court vide its order dated 28.5.1999, the operative portion of which is quoted below : "The recovery proceedings against the petitioners shall remain stayed provided the petitioners deposit Rs. 5,000/- by 1st July, 1999, Rs. 5,00,000/-by 1st August, 1999, Rs. 5,00,000/-by 1st September, 1999 and the balance amount by 1st October, 1999. The petitioners shall, however, not alienate any property moveable and immovable till the entire amount is paid. In case of default the entire amount can be realised as arrears of land revenue." ;