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Judgment
Shri Narayan Shukla, J.—Heard Mr. V.K. Srivastava and Mr. R.P.Tripathi, learned counsels for the petitioner, learned Standing Counsel for opposite parties 1 and 3 as well as, Mr. N.K. Seth, learned counsel for opposite party No.2.
Learned counsel for the petitioner has challenged the recovery proceedings initiated against the petitioner on the ground that admittedly he has committed default in making deposit of instalments which were due on 15th July, 2004. 15th January 2005 and 15th July, 2007. He further submits that the rest of the instalments have been deposited by the petitioner timely and he is ready to make deposit of the said instalments also within one month with the permission to permit him to continue to deposit rest of the instalments on the date when it will become due.
Considering the facts and circumstances of the case. I dispose of the writ petition finally with the direction to the respondents to keep the recovery proceedings in abeyance, if the petitioner deposits the total amount of the instalments which have become due till 15th July, 2007 within one month and he shall continue to deposit the rest of the instalments as per schedule provided by the Bank, failing which the Bank shall be at liberty to proceed against him in accordance with law.
With the above directions the writ petition is disposed of finally.
(Ordered accordingly)