IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.12458 of 2010 RAJIV KUMAR SRIVASTAWA, son of late Shankar Dayal Srivastawa resident of College Gate, Charitravan, Police Station- Buxar Town, P.O. Buxar, District- Buxar…. Petitioner Versus 1. CANARA BANK through Zonal Manager, Zonal Office, Luv Kush Tower, Exhibition Road, Patna. 2. Zonal Manager, Canara Bank, Zonal Office, Luv-Kush tower, Exhibition Road, Patna. 3. Branch Manager, Canara Bank, Namak Gola Road, Buxar… Respondents ----------- For the petitioner: Mr. Jitendra Prasad Singh, Advocate For the respondent-Bank: Mr. Onkar Kumar, Advocate. ----- 2. 9.8.2010 Mr. Onkar Kumar, Advocate files vakalatnama for respondent Canara Bank. Let the same be kept on the record. Learned counsel for the petitioner has come up with an offer on instruction from the petitioner that he is prepared to pay an amount of Rs, 2,00,000/- before the last date of this month and thereafter an amount of Rs. 1,00,000/- at the end of every month until the entire dues of the Bank are cleared. Learned counsel for the Bank informs that the dues of the petitioner till 31.7.2010 comes to Rs.10,88,953/-. In the above circumstances considering entire facts and circumstances of the case as also the fact that the petitioner is prepared to clear all the dues of the Bank within a timeframe, the writ application is disposed of with the direction - 2 - that the petitioner shall pay an amount of Rs. 2,00,000/- by the end of August, 2010 and thereafter he shall keep on paying an amount of Rs.1,00,000/- by the end of every month started from September, 2010 until the entire dues along with the interest accrued thereon, in the meantime, are cleared. It is made clear that no coercive steps shall be taken against the petitioner if he keeps paying the instalments regularly but on failure of the petitioner to pay the instalment of any month, it would be open to the Bank to initiate such proceedings as it may deem fit including under the SARFAESI Act for recovery of the entire dues of the Bank. The writ application is, accordingly, disposed of with the aforesaid directions. VPS ( Ramesh Kumar Datta, J. )