- (1.) Heard learned counsel for the petitioner, Sri Sanjay Kumar Mishra, holding brief of Sri Sanjai Singh, learned counsel for respondent-bank no. 2 and learned Standing Standing Counsel for the respondent no. 1.
(2.) This petition has been filed challenging the sale notice dated 25.10.2017 issued by the respondent-Bank for recovery of the outstanding dues fixing 24.11.2017 for auction. It is stated that the property has not been auctioned till date. It has been stated in paragraph 1 that this is the first writ petition against the sale notice. Learned counsel for the petitioner states that total liability against the petitioner is Rs.6,83,901/- and he is ready to pay the dues in instalments. Learned counsel appearing for the respondent-bank has no objection.
(3.) After considering the submission and perusing the records, the writ petition is finally disposed of with the direction that the petitioner shall deposit Rs.2.00 Lacs within a period of one month from today and the remaining amount along with up to date interest shall be deposited in three equal quarterly installments. After deposit of two equal quarterly instalment, information of the outstanding interest liability which might have accrued during this period shall be given by the Bank to the petitioner in writing well in time and the said amount shall also be deposited along with last instalments.;