Partly allowed

Lakhjeet Singh v. State of U.P. and 2 Others

Allahabad HC24 Jul 2018WRIC/23422/2018

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition filed under Article 226 against recovery proceedings. The court stayed the recovery process on the condition that the petitioner pays the entire outstanding loan amount with interest in six installments to the revenue authorities, allowing the bank to furnish statement details after the first deposit.

What did the court decide?

Recovery proceedings stayed if the petitioner pays the entire outstanding amount with interest in six installments to revenue authorities. No recovery charges to be realised if payments are made as pe

Lakhjeet Singh Vs State of U.P. and 2 Others — Banking and Recovery | Allahabad HC (2018)

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Court No. - 36

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Case :- WRIT - C No. - 23422 of 2018 Petitioner :- Lakhjeet Singh Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Bhupendra Kuamr Tripathi Counsel for Respondent :- C.S.C.,Neeraj Dwivedi

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Hon'ble Mrs. Sunita Agarwal,J.

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Heard learned counsel for the petitioner, learned Standing Counsel and Shri Neeraj Dwivedi, 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 up-to-date interest in six installments to be deposited before the revenue authorities.

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(2) The first installment of Rs.3,00,000/- shall be paid within a period of 15 days and amount of Rs.7,00,000/- shall be deposited within a further period of one month.

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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 equal 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 :- 24.7.2018/Jyotsana

Lakhjeet Singh v. State of U.P. and 2 Others

Case brief

What is this about?

What did the court decide?

Lakhjeet Singh v. State of U.P. and 2 Others

Case brief

What is this about?

What did the court decide?

What the court decided

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