IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.13053 of 2009 M/S HARIYALI TRADERS AND SHIVAM AUSHDHI through its Guarantor/Mortgages Sri Rajendra Prasad, Son of Shri Shiv Pujan Singh, Resident of Village- Gokrahi Tola, P.S.- Daudpur, District- Saran :--- Petitioner. Versus 1. THE UNION BANK OF INDIA through By, General Manager, Chapra (Saran) 2. The Chief Manager, Union Bank of India, Model Regional Office Mashemexu Mazharul Haque Path, Patna. 3. The Senior Manager, Union Bank of India, Chapra, Saran :--Respondents. ----------- 2. 13.10.2009. Heard learned counsel for the petitioners and the counsel for the Union Bank of India (hereinafter referred to as the “Bank”). 2. Petitioner-guarantor is aggrieved by the notice issued under Sub-Section (1) of Section 8 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 by the authorized officer of the Bank in Sahara newspaper dated 2.9.2009, Annexure-5, whereunder the principal borrower as also the petitioner has been jointly called upon to deposit the aforesaid amount in connection with two loan accounts and the cash credit facilities. 3. It is submitted on behalf of the petitioner that in past also he has made payments and in future he proposes to clear the entire dues of the principal borrower so as to protect his own interest. 4. Counsel for the Bank has submitted that earlier the payments were made in order to avail the over draft facility but the amount due from the principal borrower is indicated in the notice i.e. Rs. 7,59,562.01/- and Rs. 2,17,765/- and the said amount is required to be cleared by the petitioner. Of course the Bank shall be liberal in calculating the interest. 5. Let the petitioner clear the amount indicated in the notice by depositing Rs. 2,00,000/- (two lac) within one month from today and the balance amount in equal quarterly instalments but the entire amount must be cleared within two years. Counsel for the Bank states that even after petitioner clears the entire dues, operation of the two accounts cannot be permitted as the same has already become non-performing asset as per the Reserve Bank of India guidelines. In case the entire payment is made the Bank shall consider the proposal of the petitioner for opening another cash credit facility. 6. This writ application is, accordingly, disposed of. P.K.P. (V.N.Sinha,J.)