Partly allowed

Murari Tiwari v. State of U P and 3 Others

Allahabad HC6 Jul 2018WRIC/22737/2018

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition filed for staying recovery proceedings on a loan default. The court allowed the stay conditional upon the petitioner repaying the outstanding dues with interest in specified installments to the revenue authorities. Upon default, recovery may continue.

What did the court decide?

Stay on recovery proceedings granted on terms of installment repayment of principal and interest to revenue authorities; no recovery charges to be realized upon compliance.

Murari Tiwari Vs State of U P and 3 Others — Banking and Recovery | Allahabad HC (2018)

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Court No. - 36 Case :- WRIT - C No. - 22737 of 2018 Petitioner :- Murari Tiwari Respondent :- State Of U P And 3 Others Counsel for Petitioner :- Bishram Tiwari,Upendra Kumar Tiwari Counsel for Respondent :- C.S.C.,Gyan Prakash Shrivastava Hon'ble Mrs. Sunita Agarwal,J.

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Heard learned counsel for the petitioner, learned Standing counsel and Sri Gyan Prakash Shrivastava learned counsel for the respondent Bank.

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The petitioner had taken a loan and was unable to pay the installments on time. Consequently, recovery proceedings have been instituted to recover the balance amount.

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There is no illegality in the recovery proceeding but the petitioner contends that he is willing to pay the entire amount in installments.

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Learned Standing Counsel as well as counsel for the Bank are agreeable to the prayer made by the petitioner provided he repays the entire dues with interest regularly.

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Considering the aforesaid facts, the writ petition is disposed of with the following directions:-

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The recovery proceedings shall remain in abeyance provided;

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(1) The petitioner pays the entire outstanding amount with upto date interest in six equal installments to be deposited before the revenue authorities.

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(2) The first installment shall be paid on or before 7th August 2018.

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(3) On deposit of the first installment, the respondent bank would furnish the complete statement of accounts showing all the deposits which have been made by the petitioner till date and the balance amount payable.

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(4) Rest of the amount shall be deposited by the petitioner in five quarterly installments.

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(5) Any amount already deposited shall be given adjustment.

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(6) The petitioner shall make deposit of the last installment along with upto date interest.

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(7) In the event of default in any of the installments, it would be open to the respondents to recover the amount forthwith.

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(8) As only the citation has yet been issued and the recovery has not been proceeded with, it is,therefore, directed that, in case, the petitioner makes deposit as per the schedule above, no recovery charges shall be realised from him.

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Order Date :- 6.7.2018/Himanshu

Murari Tiwari v. State of U P and 3 Others

Case brief

What is this about?

What did the court decide?

Murari Tiwari v. State of U P and 3 Others

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

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