- (1.) The present petitioner is directed as against a recovery for the loan taken by the petitioner. Since the petitioner admits that he has taken the loan, this Court will not interfere with the said recovery while exercising powers under Article 226 of the Constitution of India. However, the petitioner undertakes to clear of the dues as per instalments fixed by this Court. The writ petition is being disposed of accordingly.
(2.) The petitioner will approach the respondent Bank with a certified copy of this order who shall indicate the specific amount due after deducting the amount, if any paid by the petitioner. The Bank shall then divide the said amount in three equal instalments, the first of which shall be pay able by 30th April, 1989, second by 30th June, 1989 and the last balance amount by the 31st August, 1989.
(3.) In case the petitioner complies with the aforesaid conditions and days accordingly, the recovery proceedings shall remain stayed. In case of default, the aforesaid order of stay shall stand automatically vacated and it will be open to the respondents to proceed against the petitioner and recover the amount in accordance with law. The mount may be deposited by the petitioner directly with the respondent Bank. The Writ petition is disposed of accordingly, a certified copy of this order may be given to the learned counsel within 24 hours on payment of usual charges.;