IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.12510 of 2009 RAMBILASH SINGH, aged about 40 years son of Sri Gulab Singh, Resident of Village & Post Office- Sirjua, Police Station- Mahesh Khut, at Present P.S.- Gogari, District- Khagaria :------ Petitioner. Versus 1. THE DEPUTY GENERAL MANAGER,UNION BANK OF INDIA, Zonal Office, Nasiman Building, Fraser Road, Patna 2. The Branch Manager, Union Bank of India, Gochhari, Gopalpur via Gogri, Jamalpur, District- Khagaria :---- Respondents. ----------- For the petitioner :- Mr. Dilip Kumar, Advocate. For the Respondents : Mr. Aditya Sharan, Advocate. ======== 3. 12.10.2009. Counsel for the Bank has filed counter affidavit which is taken on record. It appears therefrom that after taking loan of Rs. 2,70,000/- on 25.03.2003 to purchase a tractor petitioner did not pay even a single penny to the Bank inspite of due notice to him. In the circumstances, the Bank had no option but to seize the tractor. By filing the present application petitioner desires release of the tractor. 2. Learned counsel for the Respondent-Bank with reference to the averment made in the counter affidavit submitted that petitioner is a rank defaulter who should not be accommodated by this Court, however, considering the fact that petitioner had taken loan for purchasing tractor for agriculture purposes, I deem it expedient to accept the submission of the petitioner that he shall deposit Rs. 1,00,000/- (one lac) and together with the deposit shall file a petition requesting the Bank to settle his dues by applying the norms of one time settlement as per Reserve Bank of India directives and the amount which is to be paid by the petitioner in terms of the settlement be paid by him in twenty four equal monthly instalments. On payment of Rs. 1,00,000/- (one lac) together with the request to settle - 2 - the dues the Bank having secured the deposit of one lac rupees shall consider the request of the petitioner for one time settlement of the dues as per the Reserve Bank of India directives and pass order indicating the payment of the dues amount in 24 equal instalments and release the tractor. In case of default in payment of any of the instalments, the Bank shall first seize the tractor and thereafter take legal action for sale of the mortgaged land. 3. This writ application is, accordingly, disposed of. P.K.P. (V.N.Sinha,J.)