1 FARAD CONTINUATION SHEET NO. IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE, BENCH AT AURANGABAD WRIT PETITION NO.1186 OF 2009. Office Notes, Office Memoranda of Coram, appearances, Court's orders or directions and Registrar's orders. Court's or Judge's orders Mr.M.P.Kale, advocate for the petitioner. Mr.P.S.Agrawal, advocate for the Respondents Mr.S.B.Pulkundwar, Asstt. Govt. Pleader for the State. CORAM : S.V.GANGAPURWALA,J. Date : 07.09.2011. PER COURT : 1. Heard. 2. The petitioner impugns the notice issued by the Special Recovery Officer for auction of his agricultural land Gat No.140. 3. Mr.Kale, learned counsel submits that petitioner at no point of time received notice of the proceedings U/s 101 of the Maharashtra Cooperative Societies Act. 4. The Respondent No.4 has filed affidavit and has substantiated that the notice of the said proceedings has been served on the petitioner. The recovery certificate is issued on 24th October, 2004. Though the notice was served on the petitioner, the 2 petitioner did not appear in the said proceedings. 5. Perusal of the said recovery certificate shows that the interest has been awarded at the rate of Rs.19% p.a. The loan was a vehicle loan. There are rival contentions about the Bank repossessing the said vehicle. Be that as it may. This Court would not embark upon the said inquiry. Suffice it to say that the recovery certificate has been issued by the competent authority after issuing notice to the petitioner. However, the interest that is awarded is exorbitant. After the said recovery certificate is issued and pursuant to the orders passed by this Court, the petitioner has deposited an amount of Rs.40,000/- (Rupees forty thousand) with the Bank. 6. Moreover, by efflux of time, even the said notice for sale of the property does not survive. 7. In light of the above, I modify the said recovery certificate. The Bank shall be entitled to recover the amount of the recovery certificate dated 25.10.2004. However, the said amount would carry interest at the rate of Rs.12% p.a. Save and except the said modification, the recovery certificate is kept intact. The petitioner shall pay the amount under the recovery certificate in four (4) instalments. 25% of the amount outstanding shall be paid within three (3) months from today and each 25% of the amount outstanding shall be paid after every quarter. 3 8. The Writ Petition is disposed of. 9. Mr.Agrawal, learned counsel states that the Bank would supply the extract of the loan account of the petitioner. (S.V.GANGAPURWALA,J.) Dt.07.09.2011. asp/office/wp1186.09 4