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Judgment
Deepak Gupta, J.—The Petitioner has challenged the order dated 5.10.2009 Annexure P-2 whereby the Petitioner has been directed to be sent to civil imprisonment initially for a period of one month.
This order is kept in abeyance. During the course of this petition which was filed about one year back, various opportunities were given to the Petitioner to deposit some amounts but he has failed to deposit even a single paisa till date.
According to Mr. K.D. Sood, learned Counsel for the Respondent No. 1, the interest as per the decree works out to Rs. 11,19,216/-. A very reasonable suggestion has come from the decree-holder/Bank that in case the Petitioner pays the decretal amount of Rs. 9,64,992/- plus half of the interest as per the decree, i.e., Rs. 5,59,608/- within a period of seven months from today, the bank is willing to have the decree satisfied.
Mr. Sanjay Jaswal, learned Counsel for the Petitioner on instructions received from his client submits that this is too short time and his client can only deposit this amount in about 18 months.
In my view, the Petitioner has already been given reasonable time to deposit this amount but he has failed to show his bonafides. However, by way of indulgence, further time of one year is granted to the Petitioner to deposit this amount of Rs. 15,24,600/- in four installments of Rs. 3,81,150/- each. These installments should be paid before 15th April, 2011, 15th July, 2011, 15th October, 2011 and 15th January, 2012. In case the Petitioner fails to deposit any one of these installments, the Respondent-bank shall be entitled to recover the entire amount alongwith interest as decreed and the order under challenge shall immediately come into operation.
The petition is disposed of in the aforesaid terms. No order as to costs.