IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.1723 of 2009 M/S TIRUPATI BALAJEE PROPRITOR ALOK KUMAR BHARTIYA Versus CHIEF MANAGER,S.B.I. & ANR ----------- 2 3/2/2009 Heard counsel for the petitioner and counsel for the State Bank of India. There is no dispute with regard to liability of a sum of Rs. 2,79,088/- against the petitioner for which a proceeding has been initiated against the petitioner under Section 13(2) of Securitisation and Reconstruction of Financial Assets and Enforcement of security Interest Act. Counsel for the petitioner, in fact, would submit that he is prepared to pay the entire amount and in fact he has also made some payment, i.e, Rs. 83,500/- after issuance and receipt of the notice. He further undertakes that a sum of Rs.50,000/- will be paid by 2nd March, 2009 and the remaining amount will also be cleared by him in four equal instalments payable on 2nd April, 2009, 2nd May, 2009, 2nd June, 2009 and 2nd July, 2009. Such offer given by the counsel for the petitioner is acceptable to the counsel 2 for the Bank who would only insist that in the last installment whatever interest will be payable will be conveyed and that also must be paid. The counsel for the petitioner has agreed to make payment of interest in the last installment payable on 2.7.2009. That being so, this writ application is disposed of as per aforesaid undertaking given by counsel for the petitioner with a direction to the petitioner to make payment as per the schedule given above. In the event of any default in payment of such installment by the petitioner the Bank will be at liberty to proceed in accordance with law. (Mihir Kumar Jha, J.) Abhay Kumar