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M/S Meerut Marbles & Another v. State Of U.P.Thru' Collector Meerut & Others - WRIT - C No. 3442 of 2002  RD-AH 8785 (9 May 2007)
C.M.W.P. No. 3442 of 2002
Hon'ble R.P. Misra, J.
Hon'ble Shishir Kumar, J.
Heard Sri Pramod Jain, learned Counsel for the petitioner and Sri Manish Khare, holding the brief of Sri V.K. Goel, learned Counsel for the respondents No. 2 and 3.
The petitioner was granted cash credit limit facility upto Rs. 2,50,000/- from the respondent Bank. Admittedly the petitioner could not make payments within time and his account was held to be N.P.A. The petitioner moved an application seeking to settle the entire dues at one time settlement in accordance with the guidelines, issued by the Reserve Bank of India. The aforesaid application of the petitioner for one time settlement, is still pending.
In the circumstances of the case, we direct the respondent no. 3 to consider the one time settlement application of the petitioner in accordance with the guidelines issued by the Reserve Bank of India.
With the aforesaid direction, the writ petition is disposed of.
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