: 1 : IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITIN NO.3676 OF 2005 M/s.New Royal Cycle Agency ....Petitioner V/s. Citizen Co-operative Bank Ltd. & Ors. ....Respondents Mr.Vaibhav Karnik for the Petitioner. Mr.P.S. Dani for Respondent No.1. CORAM : S.J. VAZIFDAR, J. DATED : 10TH JANUARY, 2007. P.C. : 1. The impugned order was passed on the admission of the Petitioner that the loan amounts granted by the Bank were in arrears. The Petitioner further desire to pay the amount. In view thereof, the recovery certificate was confirmed. No confirmity can possibly be found in such situation. 2. At this stage Mr.Karnik, the learned counsel appearing on behalf of the Petitioner on taking instructions from his client, who is present in Court, seeks time to repay the arrears. He states that the entire arrears shall be paid on or before 1st September, 2007. The attachment therefore shall continue. The property shall however not be sold till 15th September, 2007 subject to the Petitioner paying : 2 : a sum of Rs.50,000/- each on or before 10th day of February, March, April, May, June, July and August, 2007 and the balance amount on or before 10th day of September, 2007. 3. In the event of there being any default, the stay shall stand vacated and the recovery proceedings shall continue. 4. The Writ Petition is accordingly disposed of.