Disposed

Sanjay Singh and Another v. State of U.P. and 2 Others

Allahabad HC25 Jul 2018WRIC/24701/2018

Case brief

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What is this about?

The court disposed of a writ petition challenging recovery proceedings for a loan default. It directed a stay on recovery proceedings contingent upon the petitioners depositing the outstanding amount with interest in six installments, allowing the release of attached assets upon compliance.

What did the court decide?

Stay on recovery proceedings if petitioners pay outstanding dues with interest in six equal installments; release of attached tractor upon first payment.

Sanjay Singh and Another Vs State of U.P. and 2 Others — Specific Performance | Allahabad HC (2018)

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Court No. - 36

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Case :- WRIT - C No. - 24701 of 2018

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Petitioner :- Sanjay Singh And Another Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Purushottam Maurya Counsel for Respondent :- C.S.C.,Anadi Krishna Narayana

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Hon'ble Mrs. Sunita Agarwal,J.

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Instructions supplied by the respondent-bank are taken on record.

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Heard learned counsel for the petitioners, learned Standing counsel and learned counsel for the respondent Bank.

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The petitioners had taken a loan and were 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 petitioners contend that they are 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 petitioners provided they repay 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 petitioners pay 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 of Rs. 50,000/- shall be paid on or before 26th 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 petitioners till date and the balance amount payable.

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

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

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(6) The petitioners 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 petitioners make deposit as per the schedule above, no recovery charges shall be realised from them.

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(9) On deposit of the said money, the tractor attached by the respondents shall be released.

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Order Date :- 25.7.2018 Pratima

Sanjay Singh and Another v. State of U.P. and 2 Others

Case brief

What is this about?

What did the court decide?

Sanjay Singh and Another v. State of U.P. and 2 Others

Case brief

What is this about?

What did the court decide?

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