Disposed

Matlub v. State of U P and 3 Others

Allahabad HC7 Aug 2018WRIC/26462/2018

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition challenging bank recovery proceedings. The court stayed the proceedings directing the petitioner to deposit specified amounts in installments with interest, granting waiver of recovery charges upon strict compliance.

What did the court decide?

Recovery proceedings stayed; petitioner directed to deposit Rs. 2,00,000 within one month, followed by further deposits and quarterly installments; recovery charges waived on compliance.

Matlub Vs State of U P and 3 Others — Contract and Commercial Disputes | Allahabad HC (2018)

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Court No. - 36

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Case :- WRIT - C No. - 26462 of 2018

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Petitioner :- Matlub Respondent :- State Of U P And 3 Others Counsel for Petitioner :- Vinod Kumar Srivastava,Sunil Kumar Srivastava Counsel for Respondent :- C.S.C.,Amrish Sahai

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Hon'ble Mrs. Sunita Agarwal,J.

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Heard learned counsel for the petitioner, learned Standing counsel and 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 shall deposit an amount of Rs. 2,00,000/within a period of one month from today with the respondent bank.

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(2) Further amount of Rs. 2,00,000/- be deposited by the petitioner within a period of one month from the date of the aforesaid deposits.

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(3) On deposit of the aforesaid amount within the period given above, the bank shall provide 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 six 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 :- 7.8.2018

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Pratima

Matlub v. State of U P and 3 Others

Case brief

What is this about?

What did the court decide?

Matlub 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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