IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.8555 of 2005 Shashi Shankar Prasad, son of Late Sachitanand Prasad, Resident of 204, Durga Apartment, Mahesh Nagar, District-Patna, presently residing at E-145A (2nd Floor), Gali No.5, Pandav Nagar, Patpar Ganj, Delhi-110 091. ….. … Petitioner. Versus 1. The Uco Bank through its General Manager having its Head Office at 10, BTM Sarani (BRA Bourne Road), Kolkata- 700 001. 2. The Branch Manager, UCO Bank, Patliputra Industrial Area (PIA) Branch, Patliputra Industrial Area, Patna (Bihar). 3. The Senior Manager, UCO Bank, Patliputra Industrial Area (PIA) Branch, Patliputra Industrial Area, Patna (Bihar). ….. Respondents. ----------- For the petitioner : Mr. Anand K. Ojha, Advocate. For the respondents : Mr. S. D. Sanjay, Advocate. -------- 07/ 25.08.2011 Heard learned counsel for the petitioner and learned counsel for the respondents. 2. The petitioner has filed this writ petition for the following reliefs:- (i) Issuance of writ in the nature of mandamus commanding the respondent Bank to convert the liability under Cash Credit A/c No.468 after adjustment of the Collateral Security already offered into long term loan and issuance of further direction to the Respondent Bank restraining the Bank from taking any coercive steps against the petitioner/guarantor for realisation of the amount or in connection with the transaction. (ii) Issuance of direction to the Bank to arrive at a reasonable and equitable mode and manner of realisation of the amount considering the admission of liability and readiness to pay back the amount in accordance with law. 3. Learned counsel for the petitioner submits that he is ready to pay the entire amount due of Rs.3,21,000.00 and odd including everything within one year. Learned counsel for the - 2 - respondents submits that on the basis of the aforesaid undertaking of the petitioner through his counsel he has got no objection. 4. In the said circumstances, this writ petition is disposed of with a direction to the petitioner on the basis of his own undertaking to pay the entire amount mentioned above within one year in 12 monthly equal instalments. In case of petitioner’s failure or default in payment of any of the aforesaid instalments, the respondents will be at liberty to take all coercive and consequential steps for recovery of the entire amount without any concession which he extended to the petitioner due to his undertaking. Sunil (S. N. Hussain, J.)