HIGH COURT OF UTTARAKHAND AT NAINITAL Writ Petition No. 2137 of 2009 (M/S) M/s Diya Textiles and another …. Petitioners .. Versus State of Uttarakhand & others … Respondents Mr. Dinvesh Chauhan, Advocate for the petitioners. Mr. K.P. Upadhyay, Additional Chief Standing Counsel for the State of Uttarakhand/respondent nos. 1 and 2. Mr. Arvind Vashisth, Advocate for respondent no. 3. 21st December, 2009 Hon’ble Sudhanshu Dhulia, J. Heard learned counsels for the parties. The petitioner no. 2 has admittedly taken a loan from the Central Bank of India, Branch Mallital, Nainital. This loan has not been repaid and consequently recovery proceedings have been initiated against him. During the course of the argument, learned counsel for the petitioner Mr. Dinesh Chauhan has prayed that he is prepared to pay the entire loan amount, however, the amount may be recoverable in easy installments. Learned counsel for the respondent-bank Mr. Arvind Vashistha consents to it. Therefore, following orders are being passed : The entire amount repayable to the bank is Rs. 86,900 /- excluding the interest which is payable from the date of issue of recovery certificate. In case the petitioner deposits an amount of Rs. 16,900/- with the bank by 1st February, 2010, the remaining amount of Rs. 70,000/- shall be recoverable from the petitioner by seven equal monthly installments of Rs. 10,000/- to be deposited every month beginning from 1st March, 2010, 1st April, 2010, and so on. The accumulated interest on the said amount shall be charged in the last installment. 2 It is made clear that in case of any default in payment of installments, the Bank will be at liberty to initiate recovery proceedings against the petitioners. With the aforesaid directions, writ petition is disposed of. No order as to costs. (Sudhanshu Dhulia, J.) 21.12.2009 Avneet