IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.8454 of 2009 M/S MAHAVIR TIMBER WORKS Versus THE PUNJAB NATIONAL BANK &ANR For the Petitioner : Mr.Awadhesh Kumar Mishra,Advocate For the Bank : Mr. Sunil Kumar Singh, Advocate 2 23.7.2009 KHAN Heard counsel for the petitioner and the Bank. The petitioner has come against the notice under section 13(4) of the SARFAESI Act, 2002 issued by the Authorised Oficer, Punjab National Bank,Patna. Learned counsel for the petitioner submits that on 31.8.2005 a compromise took place between the petitioner and the Bank and at that time total amount including interest came around Rs.5,75,000/-. Between 24.8.2005 to 30.4.2009 the petitioner deposited more than Rs.2 lacs and only Rs.3 lacs and odd remained to be paid. He further submits that the petitioner is paying the enhanced installment of Rs.8,000/- per month in place of Rs.5,000/- per month. Counsel for the Bank submits that he has to verify whether any agreement between the parties has been arrived or not. After hearing counsel for the parties, this court is of the view that the petitioner should file an appeal before the Debts Recovery Tribunal under section 17 of the Act. He may plead therein to be allowed to pay the dues in installment. No coercive action would be taken against the petitioner for four weeks in order to enable him to file an appeal. With the aforesaid observations and directions, this writ petition stands disposed of. (S.P.Singh,J) - 2 -