IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.9278 of 2009 M/S JORMAL RAM KUMAR Versus THE STATE BANK OF INDIA & ORS ----------- For the petitioner:Mr.Rajiv Kumar Verma,Adv. For the State :Mr.Sunil Kumar Mandal,S.C.15. For the S.B.I. :Mr.K.K.Sinha,Adv. 2 5.8.2009 Heard the learned counsel for the parties. The petitioner has prayed for quashing the notice bearing No.326 dated 16.12.2008 issued under section 13(2) of the SARFAESI Act,2002. The petitioner has wholesale Sugar Trade business in the District of Muzaffarpur. He was granted cash credit facilities up to the limit of Rs.24,00,000/- lacs. The petitioner sustained some loss in his business and as such he defaulted in repaying the loan. The bank had issued a notice dated 16.12.2008 under section 13 (2) of the SARFAESI Act, 2002. The petitioner submits that by way of legal notice dated 19.1.2009 he raised his objection & grievance. He states that in the month of January and February,2009 a sum of Rs.9/- lacs has already been paid to the bank. He further states that if the bank provides installment facility, the petitioner is willing to liquidate the entire dues within the stipulated period. After hearing the counsel for the parties this Court passes the following order:- The petitioner would deposit a further sum of Rs.2/- lacs within three weeks from today. In case the aforesaid amount is deposited, the bank would give a detailed calculation of the total 2 dues on the day after calculating the interest as per the agreement or the guideline provided by the R.B.I. In case the bank finds that the petitioner has endeared to his commitment of repayment of loan it will be open for the former to reconsider making available further cash credit facility. This writ application is disposed of with the aforesaid direction. No coercive action would be taken against the petitioner by the bank for a period of four weeks to enable him to deposit a sum of Rs.2/- lacs. Let a copy of this order be handed over to Mr. K.K.Sinha, counsel for the bank. Anilkrsinha (Samarendra Pratap Singh, J.)