Disposed

Rajeev Kumar v. State of U.P. and 3 Others

Allahabad HC23 Jul 2018WRIC/24723/2018

Case brief

AI extract

What is this about?

This petition was filed by a petitioner unable to pay loan installments to a bank. The High Court disposed of the writ petition by staying recovery proceedings, directing the petitioner to repay the total outstanding amount with interest in eight equal installments. The availability of account statements and waiver of recovery charges were also included in the order.

What did the court decide?

Recovery proceedings stayed; petitioner directed to pay total dues with interest in eight equal quarterly installments; incident account and no recovery charges on full compliance.

Rajeev Kumar Vs State of U.P. and 3 Others — Banking and Recovery | Allahabad HC (2018)

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Court No. - 36

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Case :- WRIT - C No. - 24723 of 2018 Petitioner :- Rajeev Kumar Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Sunil Kumar Shukla Counsel for Respondent :- C.S.C.,Sanjai Singh

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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 Sanjai Singh 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 eight equal installments to be deposited before the revenue authorities.

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(2) The first installment shall be paid on or before 24th 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 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 :- 23.7.2018/Jyotsana

Rajeev Kumar v. State of U.P. and 3 Others

Case brief

What is this about?

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Rajeev Kumar v. State of U.P. and 3 Others

Case brief

What is this about?

What did the court decide?

What the court decided

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