The present writ petition has been filed with the following prayers:

“1)Issue a writ of certiorari or other appropriate writ, order or direction calling for the records leading to Exhibit-P.1 Demand Notice and Ext.P4 possession notice, Ext.P5 Application in CJM Court, Ext.P6 Order of CJM Court and Ext.P.7 Notice of Advocate Commissioner and quash the same.

2. Issue a writ of mandamus or any other writ, direction or order directing the respondent to regularize the loan accounts of the petitioner, by allowing to pay off the over due amounts if any in easy installments, or in the alternate allow the petitioner to settle the account by compromise settlement or under One Time Settlement, within the time as framed by this Honorable Court.

3. Grant such other and further reliefs as this Honorable Court may deem fit and proper in the circumstances of the case including costs.”

2.As per the learned Standing Counsel for the Bank total outstanding amount is Rs.31,56,698/-. The learned counsel for the petitioner submits that the petitioner is willing to discharge the loan liability. However, he does not have the means to discharge the loan liability in one go as the business is closed. The petitioner needs some breathing time to mobilize the resources to pay off the loan amount outstanding against him.

3.The learned counsel for the respondent Bank submits that since February 2023, the loan account was declared as 'NPA', the petitioner must took his bona fide to discharge the loan liability. Considering the aforesaid submission and taking into consideration of facts and circumstances, the present Writ Petition is disposed of with following directions:<br/>

The petitioner shall deposit Rs.6 lakhs on or before 08.08.2024. If the petitioner deposits Rs.6 lakhs on or before

08.08.2024, the remaining outstanding amount along with interest is to be paid by the petitioner in 10 equal monthly installments. the 1st installment after payment of rs.6 lakhs on or before 08.08.2024 has to be paid on or before 07.09.2024, the remaining 9 installments on or before the 7th day of each succeeding month. in case of failure of making payment of rs.6 lakhs or any subsequent installment as directed above, the bank shall be free to take appropriate measures on proceedings for realizing the outstanding amount of the bank against the petitioner. with the aforesaid directions, the present writ petition stands disposed of. the impugned coercive notice shall be kept in abeyance for a period of one month. the petitioner may also approach the bank after making payment of rs.6 lakhs on or before 08.08.2024 for recasting loan or one time settlement as the case may be. the bank shall be free to proceed with the impugned advocate commissioner’s notice.