Gopal Mahajan and Another vs The Authorized Officer, State Bank of Patiala, Himachal Pradesh and Another

L.N. Mittal, J.—Counsel for the petitioners, after seeking instructions from petitioner No. 1, who is present in person in the Court, states that petitioners shall pay Rs. 10,00,000/- within one month from today and Rs. 5,00,000/- within next one month thereafter and would clear the entire balance due amount within one year from today and shall, during this period, pay minimum amount of Rs. 3,00,000/- per month after the aforesaid two instalments, failing which the revision petition shall be deemed to have been dismissed. Counsel for the respondents expresses his inability to accept the aforesaid offer citing administrative difficulty.

Respondents should be interested in recovering their amount instead of resorting to coercive process, which may take longer time to recover the due amount. The offer made by the petitioners is very reasonable and fair. It would save the petitioners from coercive process and respondents would also be able to realize their due amount sooner than later without resorting to litigation or coercive process. Thus, it would serve the ends of both the parties. Accordingly, the instant revision petition is disposed of in terms of the aforesaid offer made by counsel for the petitioners.