IN THE HIGH COURT OF UTTARAKHAND AT NAINITAL Writ Petition No. 1109 of 2008 (M/S) Ashok Kumar Gupta, S/O Sri R.C.Gupta, R/O 67 Jhanda Moahlla, Dehradun, District Dehradun. …… Petitioner. Versus Assistant Registrar Co-operative Societies Meerut, District Meerut, U.P. and three others … Respondents. Sri Pradeep Joshi, holding brief of Sri V.B.S.Negi, learned counsel for the petitioner. Smt. Bina Pande, learned Standing Counsel (U.P.Govt.) for the respondent nos. 1 and 2. Sri B.D.Pande, holding brief of Sri B.D.Kandpal, learned counsel for the respondent no. 3&4-Bank. Date July 08, 2008. Hon’ble B.S.Verma, J. Heard Sri Pradeep Joshi, holding brief of Sri V.B.S.Negi, learned counsel for the petitioner, Smt. Bina Pande, learned Standing Counsel (U.P. Government) for the respondent nos. 1 and 2 and Sri B.D.Pande, holding brief of Sri B.D.Kandpal, learned counsel for the Bank-respondent no.3 and 4 and perused the record. This writ petition has been filed for issue a writ, order or direction in the nature of certiorari quashing the execution proceedings and the recovery notice dated 30-5-2008 issued by respondent no.2 Annexure No. 1 to the writ petition. According to the petitioner, he applied for grant of loan of Rs. 60000/- in December 2001 for the purpose of house construction from the Central Bank Employees S.E. Cooperative Society Ltd. (Regd.)-respondent no.3. Copy of application has been annexed as Annexure No. 2 to the writ petition. Consequently, loan of Rs. 60,000/- was granted in terms of sanction letter dated 13-12-2001, copy of which has been annexed as Annexure No. 3. The loan amount was to be repaid in monthly instalments of Rs. 1600/- from the month of December 2001. The 2 petitioner was required to pay interest @ 16% per annum with quarterly rest thereon. The deduction of instalment of Rs. 1600/- was being made from the salary of the petitioner. Subsequently, the petitioner was placed under suspension and he was ultimately dismissed from service. The respondent no.3 had issued recovery notice no. 2929 on 29.3.2005 whereby the petitioner was asked to make payment of outstanding amount of Rs. 68,116/- within a period of fifteen days from the date of receipt of notice. The petitioner is ready and willing to pay the outstanding loan amount under the recovery notice of Rs. 1,03,076/- (Annexure No. 1) to the respondent no.3. In the course of arguments, learned counsel appearing on behalf of the respondent no. 3 and 4-Bank has submitted that the respondent-Bank would have no objection if the entire outstanding amount under the recovery notice (Annexure No.1) along with recovery charges, if any, in four equal quarterly instalments. In the circumstances of the case, the petitioner is directed to make payment of entire outstanding amount of loan along with recovery charges in four equal quarterly instalments along with recovery charges, if any. The first quarterly instalment shall become due on 1st day of August 2008 and the subsequent instalments shall fall due on 1st day of the month after every three months. In case of default in payment of any of the quarterly instalments, the respondents shall be at liberty to recover the entire outstanding amount along with recovery charges in lump sum. If the payment is made by the petitioner, as directed above, the recovery citation (Annexure No.1) shall not be given effect to. With the above direction, the writ petition is disposed of finally. Costs easy. ( B.S.Verma, J. ) RCP 3 4