- (1.) Heard learned counsel for the parties,
(2.) The petitioner took a loan in respect of which the impugned recovery has been issued. The only prayer of the learned counsel for the petitioner is that the Court should fix instalments. In our opinion under Article 226 of the Constitution the High Court has no power to fix instalments.
(3.) Fixing instalments is really rescheduling of the loan, which can only be done by the Bank or Financial Institution which granted the loan. A large number of petitions are being filed before us in which the only prayer is that the High Court should fix instalments or grant one time settlement. In our opinion the High Court has no power to fix instalments or to grant one time settlement. Fixing instalments or granting one time settlement is really rescheduling of the loan which the High Court cannot do only the Bank or Financial Institution which granted the loan can do so. These are really the contractual matters and the High Court cannot interfere with the same in writ jurisdiction.;