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Judgment
Sudhanshu Dhulia, J.—Supplementary affidavit filed on behalf of the petitioner in Court today is taken on record.
Heard Mr. Atul Bansal, Advocate for the petitioner, Mr. H. M. Raturi, Standing Counsel for the State of Uttarakhand and Mr. K. C. Tiwari, Advocate for respondent nos. 1 and 4.
The petitioner is a cooperative society. The petitioner had taken a loan under the scheme of Government. The loan has not been returned and consequently respondents have initiated recovery proceedings and to recover the said loan as arrears of land revenue.
On the last occasion when the matter was adjourned learned Standing Counsel sought time to get instruction as to who will be receiving the amount in case the same is to be deposited by order of this Court. Learned Standing Counsel Mr. H. M. Raturi has stated that the amount can be received in the name of Additional Registrar, Co-operative Societies, District Udham Singh Nagar, Uttarakhand.
Learned counsel for the petitioner Mr. Atul Bansal admits his liability to repay the amount. Learned Standing Counsel Mr. H. M. Raturi for the State of Uttarakhand and Mr. K. C. Tiwari, Advocate for respondent nos. 1 and 4 admit that in case reasonable installments is fixed by this Court the matter be disposed of at the admission stage itself with the above observations.
The writ petition is therefore disposed of with a direction that the petitioner shall deposit an amount of Rs. 10,00,000/- (Ten Lakh) with the Additional Registrar, Co-operative, District Udham Singh Nagar, Uttarakhand on or before 22.12.2011. The remaining amount shall be returned by the petitioner by way of two equal installments. The first installments amounting to Rs. 11,50,751/- shall be paid on or before 7.2.2012 and second installment amounting to Rs. 11,50,751/- shall be paid on or before 22.3.2012. In other words, the entire amount shall be paid by the petitioner within a period of three months from 22.12.2011. The last installment to be paid on 22.3.2012 shall also carry the remaining interest and other charges, if any. In case of any default in payment of any installment by the petitioner, the respondents shall be at liberty to initiate recovery proceeding afresh.
No order as to costs.