MARGHOOB AHMED Vs. CORPORATION BANK

JUDGEMENT

(1.) COUNSEL for the parties are present. Appellant No. 1 is also present in person. The appellant has deposited Rs. 50,000/ - in partial compliance of my order.

(2.) AT this stage, the appellant does not want to contest the case. On the contrary, he has moved an application that he will deposit with up -to -date interest with the Bank in instalments of Rs. 15,000/ - per month.

(3.) AS agreed, the appellants will deposit the said amount starting from 10th January, 2010 onwards. The subsequent instalments be paid by 10th of every English calendar month. As agreed, it is also pointed out that in case of default in payment of the instalment, the respondent -Bank shall be permitted to auction the mortgaged property as per law.