High Court of Judicature at Allahabad
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Ayodhya And Tohers v. State Of U.P. And Others - WRIT - C No. 6394 of 2007  RD-AH 1912 (7 February 2007)
Hon'ble Janardan Sahai, J
Heard learned counsel appearing on behalf of the petitioner and Sri R.B. Sahai, counsel for the Bank.
Petitioners had taken loan for agricultural purposes from State Bank of India. It appears that the petitioners defaulted and a demand notice has been issued by the Bank on 22.11.2006 demanding a sum of Rs. 3,21,174/- as being the amount of the instalments, which have fallen due. It is stated that the Bank has taken the tractor of the petitioner in its possession and is threatening to auction it. The only submission made by the counsel for the petitioner is that the petitioner may be permitted to deposit the amount mentioned in the demand notice together with any other amount that may have fallen due in six equal instalment of one month each. Sri R.B. Sahai, learned counsel for the Bank states that he has no objection as the Bank is primarily concerned with the recovery of the money and it is not the intention of the Bank to harass the petitioner.
In view of the agreement arrived at between the counsel for the parties this petition is disposed of finally in the following terms:-
(i) Petitioner may deposit directly with the contesting respondent no. 3 Bank in six equal instalments of one month each the amount mentioned in the demand notice together with any other instalment that may since have fallen due.
(ii) The first instalment may be deposited by 7th March 2007, second by 7th April 2007, third by 7th May 2007, fourth by 7th June 2007, fifth by 7th July 2007 and the last/sixth instalment by 7th August 2007.
(ii) If the tractor of the petitioner has been seized the Bank shall release it to the petitioner on payment of the first instalment.
(iii) In case the petitioner defaults in paying any of the instalment this order shall stand vacated.
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