IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.1793 of 2009 AKHTAR IMAM Versus THE STATE BANK OF INDIA & ORS ----------- 2. 5.2.2009 Heard counsel for the petitioner and Mr. S.D.Sanjay, counsel for the State Bank of India. The petitioner does not dispute the amount of Rs. 6,02,431.13 paise as his liability towards the Bank as on 31.10.2008 for which a notice under section 13(2) of the SARFAESI Act, 2002 has been issued. Counsel for the petitioner in fact only has tried to canvass before this Court that the petitioner comes from an average family and is not in a position to pay the aforesaid amount of Rs. 6 lacs approximately in one go. He has, therefore, himself offered to this Court that the petitioner shall pay the whole amount in 12 instalments and the first instalment thereof of Rs. 50,000/- shall be paid by 2nd of March, 2009. whereafter he will keep on paying monthly instalment on 2nd April, 2nd May, 2nd June, 2nd July, 2nd August, 2nd September, 2nd October, 2nd November, 2nd December, 2nd January, 2010 and the last instalment on 2nd February,2010. 2 The petitioner will also be liable to pay the interest over the amount of Rs. 6,02,431.13 paise from the period 1.11.2008 to the last date of payment as per agreed rate which would be paid alongwith the last instalment to be paid on 2nd February, 2010. Mr. S.D.Sanjay would submit that normally it is the experience of the Bank that the order of instalments is obtained from this Court and some time one or two of them are also paid, whereafter the amount remains unpaid which leads to a great inconvenience to the Bank in pursuing the proceeding under the SARFAESI Act. Counsel for the petitioner, however, assures this Court and gives undertaking on behalf of the petitioner that there would be no default in payment of the amount under the aforementioned instalments. That being so, this Court would dispose of the writ application with the aforementioned undertaking of the petitioner. It is made clear that if there be any default in payment of any instalment, the Bank shall be at liberty to proceed in 3 accordance with law and take possession of the premises in question. If the petitioner keeps on paying instalments, as indicated above, no coercive action shall be taken in pursuance of the impugned notice. (Mihir Kumar Jha,J.) Surendra/