IN THE HIGH COURT OF UTTARAKHAND AT NAINITAL Writ Petition No. 1245 of 2008 (M/S) Bhan Singh S/O Late Sri Parma R/O Village Harjolijat, Post Office-Gurculnarsen, Tehsil-Roorkee, District Haridwar and three others. …… Petitioners. Versus The Punjab National Bank through its Branch Manager, Branch Manglor town, Haridwar and another. … Respondents. Sri Ganesh Kandpal, learned counsel for the petitioners. Sri L.K.Tiwari, learned counsel for the respondent no.1-Bank. Sri K.P.Upadhyay, learned Additional C.S.C. for the respondent no.2. Date July 24, 2008. Hon’ble B.S.Verma, J. Heard Sri Ganesh Kandpal, learned counsel for the petitioners, Sri L.K.Tiwari, learned counsel for the respondent no.1 and Sri K.P.Upadhyay, learned Additional Chief Standing Counsel for the State-respondent no. 2 and perused the record. This writ petition has been filed for issue a writ, order or direction in the nature of mandamus commanding and directing the respondents to grant more time to deposit the amount due under the impugned recovery certificate. According to the petitioners, they took a loan of Rs. 3,24,000/- from the respondent no.1-Bank for agricultural purpose, i.e. for purchase of tractor. Due to unavoidable circumstances, the petitioners could not deposit the instalments before the respondent no.1. Ultimately, the respondent no. 1 issued a recovery certificate against the petitioner for recovery of a sum of Rs. 4,43,473/- along with recovery charges. Copy of recovery certificate has been annexed as Annexure No. 1 to the writ petition. It has been alleged that the petitioners have already deposited certain amounts with the 2 respondent-Bank after the issuance of the recovery certificate as mentioned in paragraph no. 6 of the memo of writ petition. The petitioners are ready and willing to repay the entire outstanding amount under the recovery certificate in easy instalments. During the course of arguments, learned counsel for the petitioners has submitted that the petitioners shall repay the entire outstanding amount by the close of the financial year, i.e. 31- 3-2009. Learned counsel for the respondent-Bank Sri L.K.Tiwari has submitted that the Bank has no objection if the entire outstanding amount under the recovery certificate (Annexure No.1) is paid by the petitioners by 31st March, 2009 three equal quarterly instalments. Accordingly, the petitioners are directed to pay the entire outstanding amount under the recovery certificate along with recovery charges before the respondent no. 2 in three equal quarterly instalments. Amount under the recovery certificate, if any, already paid by the petitioners shall be adjusted towards repayment of amount. The first quarterly instalment shall fall due on 25th day of September, 2008 and the subsequent instalment shall fall due on 25th day of the month after every three months thereafter, i.e. on 25-12-2008 and 25-3-2009. In case of default in payment of any of the instalments, as directed above, the respondents shall be at liberty to recover the entire outstanding loan amount along with recovery charges in lump sum from the petitioners. If the payments are made, as directed above, the impugned recovery citation (copy Annexure No. 1) shall not be given effect to. With the above direction, the writ petition is disposed of finally. ( B.S.Verma, J. ) RCP 3 4 5