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Judgment
Arindam Sinha, J
Mr. Das, learned advocate, Additional Government Advocate appears on behalf of petitioner and submits, on vehicle loan taken his client committed default in installment repayments. His client wants to regularize the account.
Mr. Dash, learned advocate appears on behalf of the bank and submits, two loans have been availed by petitioner. Aggregate defaulted installments outstanding is in excess of Rs.10,00,000/-(Rupees ten lakhs only). His client has taken steps to move the Debt Recovery Tribunal (DRT) for recovery. However, in event petitioner puts in 50% of the outstanding defaulted installments upfront, repayment of the balance along with current installments can be negotiated. Mr. Das submits, petitioner can pay Rs.1,00,000/-(Rupees one lakh only) at present since the vehicle met with an accident.
Since, the bank has already taken steps to move the Debt Recovery Tribunal (DRT), petitioner is at liberty to ventilate his case before it.
With above observation the writ petition is disposed of.
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