- (1.) HEARD counsel for the parties.
(2.) THE petitioner has come before this court on the apprehension that her secured assets may be taken possession of by the respondent Bank invoking the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (In short 'SARFAESI Act of 2002') . The petitioner had submitted on the last occasion that she is inclined to pay the outstanding amount of Rs. 20,68,966.08, as on 19th September 2012, if she is permitted to pay the same in easy installments within a period of three months. On such submission, counsel for the respondent Bank was allowed time to seek specific instruction as to whether an arrangement for making payments of the outstanding dues can be arrived at with the consent of the Bank.
(3.) TODAY , a counter affidavit has been filed on behalf of the respondent Bank. At para-20 of the counter affidavit, it has been stated that the outstanding dues remaining against the petitioner with interest and other charges calculated as on 5th of April 2013 is Rs. 23,46,491/- with applicable future interest @12.75% Per Annum. It is stated on behalf of the respondent Bank that if the petitioner is ready to pay the outstanding dues as aforesaid in three monthly installments i.e. Rs. 8,25,247/- on or before 03th April 2013, Rs. 7,87,410/- on or before 31st May 2013 and Rs. 7,78,256/- on or before 28th June 2013 totalling Rs. 23,90,913/-, as per the detail calculation chart annexed as annexure-C to the counter affidavit, the Bank is agreeable to the offer of the petitioner to clear the outstanding dues in easy installments.;