1 FARAD CONTINUATION SHEET NO. IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE, BENCH AT AURANGABAD. WRIT PETITION NO.: 3003 OF 2010 Office Notes, Office Memoranda of Coram, appearances, Court’s orders or directions Court’s or Judge’s orders. and Registrar’s orders. WRIT PETITION NO.: 3003 OF 2010 *** 1. Heard finally. Loan borrowed is Rs. 1,50,000/-. Because of indulgence shown by this Court, petitioner has, from time to time, deposited an amount of Rs.2 Lacs. Out of it, amount of Rs.1 Lac is deposited directly with Respondent No.3 society and an amount of Rs.1 Lac is with the Registry of this Court. Respondent No.3 is already permitted to withdraw that amount with interest accrued. 2. Contention of Advocate Mr. Barde is the Government Circulars prohibits charging 17% interest on such loan and there is a scheme for one time settlement. Advocate Mr. Shelke for Respondent No.3 states that the agreed rate of interest is 15% and penal rate of interest is 17%. He further points out that quarterly rests are also agreed to. 3. Learned A.G.P. has also supported the impugned order. 4. During arguments, Advocate for the Petitioner requested the Court to permit petitioner to make a representation to Respondent No.3 society and to direct Respondent No.3 to consider the same in the 2 FARAD CONTINUATION SHEET NO. IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE, BENCH AT AURANGABAD. WRIT PETITION NO.: 3003 OF 2010 Office Notes, Office Memoranda of Coram, appearances, Court’s orders or directions Court’s or Judge’s orders. and Registrar’s orders. light of Government Resolution and scheme for one time settlement. Advocate Mr. Shelke for Respondent No.3 has no objection if such representation is made within reasonable time and the society is permitted to consider it thereafter. 5. After hearing respective parties, in view of the bona fides shown by the petitioner by depositing substantial part of amount, I am inclined to permit petitioner period of seven days to make representation to respondent no.3 pointing out various Government Resolutions having bearing on the question of interest to be charged and also on one time settlement. If such a representation is made by petitioner within seven days, respondent No.3 shall consider the same in accordance with law and within further period of two weeks thereafter. 6. Shri Barde has sought stay of recovery during such consideration and for further period of fifteen days if the decision of society is against the petitioner. Shri Shelke is opposing protection after the decision is taken by society. 7. The society is restrained from taking any further coercive actions against petitioner for period of three weeks i.e. 3 FARAD CONTINUATION SHEET NO. IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE, BENCH AT AURANGABAD. WRIT PETITION NO.: 3003 OF 2010 Office Notes, Office Memoranda of Coram, appearances, Court’s orders or directions Court’s or Judge’s orders. and Registrar’s orders. during pendency of the representation made by the petitioner before the Respondent No.3 society. However, prayer for further continuation of interim orders is rejected. 8. With this liberty to petitioner and directions to Respondent No.3 present writ petition is disposed of. No costs. [B.P.DHARMADHIKARI, J.] Dated:14/02/2011. ans/3003