Partly allowed

Asif Khan v. State of U P and 2 Others

Allahabad HC13 Aug 2018WRIC/27389/2018

Case brief

AI extract

What is this about?

The court disposed of a writ petition regarding bank recovery proceedings. It granted a stay contingent upon the repayment of the entire outstanding amount including interest in six equal installments. Default would trigger immediate recovery.

What did the court decide?

Recovery proceedings stayed. Petitioner directed to deposit full dues in six installments; no recovery charges if complied with.

Asif Khan Vs State of U P and 2 Others — Banking and Recovery | Allahabad HC (2018)

¶1

Court No. - 36 Case :- WRIT - C No. - 27389 of 2018 Petitioner :- Asif Khan Respondent :- State Of U P And 2 Others Counsel for Petitioner :- Anil Kumar Pal Counsel for Respondent :- C.S.C.,P.K.Singhal

¶2

Hon'ble Mrs. Sunita Agarwal,J.

¶3

Heard learned counsel for the petitioner, learned Standing counsel and Sri P.K. Singhal learned counsel for the respondent Bank.

¶4

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.

¶5

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

¶6

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.

¶7

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

¶8

The recovery proceedings shall remain in abeyance provided;

¶9

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

¶10

(2) The first installment of Rs.5,00,000/- shall be paid on or before 14th September 2018 and Rs.2,00,000/- shall be paid within next one month.

¶11

(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.

¶12

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

¶13

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

¶14

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

¶15

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

¶16

(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.

¶17

Order Date :- 13.8.2018/Himanshu

Asif Khan v. State of U P and 2 Others

Case brief

What is this about?

What did the court decide?

Asif Khan v. State of U P and 2 Others

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Aslam Khan Vs State of U P and Another

Co-Operative Cane Development Union Ltd. Vs Controlling Authority, Under the Provisions of Payment of Gratuity ACT,1972 and 2 Others

Lakhan Singh and 8 Others Vs State of U.P. and 3 Others

Dharmendra Kumar Sharma Vs State of U.P. and 4 Others

Mudit Agarwal Vs State of U.P. and Another

M/S Ram Charan and Sons and 4 Others Vs Punjab National Bank and 3 Others