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Judgment
B.S. Verma, J.—Heard learned Counsel for the parties and perused the record.
By means of this writ petition, the petitioner has sought a writ in the nature of certiorari quashing the impugned recovery citation dated 19-6-2010 issued by respondent No. 3 (contained as Annexure No.-3 to the writ petition).
According to the petitioner, the petitioner, the petitioner took an agricultural loan through K.C.C. account No. 30110445410 and Scheme Loan for the crop of herbal plants bearing account No. A.T.L./30046878183. Due to some financial difficulties, the petitioner could not regularize his account and he could not deposit the instalments regularly. Ultimately, the impugned recovery citation was issued for recovery of Rs. 10,81,704/- by respondent No. 3 against the petitioner on 19-6-2010.
During the course of arguments, learned Counsel for the petitioner has submitted that the petitioner is ready and willing to pay the entire outstanding amount under the impugned recovery citation along with recovery charges in easy quarterly instalments. On the other hand, learned Counsel appearing on behalf of the respondent No. 4-Bank has submitted that the respondent-Bank would have no objection if the entire outstanding amount under the recovery citation is deposited by the petitioner before the recovery officer in not more than four equal quarterly instalments.
In the above facts and circumstances, the petitioner is directed to pay the entire outstanding amount under the recovery citation (Annexure-3 to the petition) in four equal quarterly instalments before the recovery officer-respondent No. 3 along with recovery charges. The first quarterly instalment shall be payable by the last day of August 2010 and the subsequent instalments shall fall due by the last day of the month after every three months thereafter. It is made clear that in case the petitioner commits default in payment of any of the instalments, as directed above, the respondents would be at liberty to recover the entire outstanding amount from the petitioner in lump-sum. Accordingly, the impugned recovery citation dated 26-6-2010 issued by the respondent No. 3 (Annexure-3 to the petition) shall not be given effect to by the respondents.
With the above direction, the writ petition is disposed of finally.
All pending applications stand disposed of.