Manoj Kumar Gupta,J.

Heard learned counsel for the petitioner, learned Standing Counsel for the State respondents and Sri J.S. Pandey holding brief of Sri Tarun Varma, learned counsel for the respondent bank.

2. Learned counsel for the petitioner does not dispute the amount which is sought to be recovered from him.

3. Admittedly, the petitioner took loan from the respondent-Bank out of which petitioner has not paid substantial amount. Petitioner submits that he is ready to deposit balance amount in easy installment. Learned counsel for the Bank states that the anxiety of the Bank is that the amount should be recovered back.

4. Accordingly, this petition is disposed of with the following directions: -

(i) Petitioner may deposit the entire amount sought to be recovered directly in concerned Bank in eight equal installments.

(ii) The first installment shall be deposited within one month from today, and the other installment shall be deposited at interval of three months. These deposits shall be made before the Branch of the Bank from where the loan was taken.

(iii) Recovery proceedings during this period will be kept in abeyance. In case, petitioner commits default in depositing any