AI Structured Summary
Not yet generated for this judgment
Judgment
The petitioners who had availed loan from the 4th respondent bank are faced with revenue recovery proceedings by way of Exts.P1 and P2
notices.
The learned Standing Counsel for the Bank submits that a sum of Rs.2,95,909/- (Rupees Two lakhs ninety five thousand nine hundred and nine
only) is due from the 1st petitioner and a sum of Rs.3,15,491/- (Rupees Three lakh fifteen thousand four hundred and ninety one only) is due from the
2nd petitioner. It is stated that they can approach the Bank for One Time Settlement.
Learned counsel for the petitioners submits that petitioners would be able to pay off the amount in case they are given installment facility.
Therefore, the Writ Petition is disposed of with a direction to the petitioners to approach the 4th respondent Bank with a representation and further
direction to the 4th respondent to consider their request for the facility of payment in monthly installments within a period of ten days from the date of
receipt of their application. In that event revenue recovery proceedings shall be kept in abeyance and it would be in tune with the terms of settlement
that would be made available to the petitioners by the 4th respondent.
The Writ Petition is disposed of accordingly.