Disposed

Wajid Ali v. State of U P and 3 Others

Allahabad HC18 Aug 2018WRIC/27909/2018

Case brief

AI extract

What is this about?

The court disposed of a writ petition filed by a loan defaulting applicant seeking suspension of recovery proceedings. The court allowed the suspension on the condition that the petitioner repays the total dues with interest in installments, with strict terms regarding the first payment and consequences of default.

What did the court decide?

Recovery proceedings stayed pending payment of total dues with interest in six initial and six quarterly installments, subject to default clauses.

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

¶1

Court No. - 36 Case :- WRIT - C No. - 27909 of 2018 Petitioner :- Wajid Ali Respondent :- State Of U P And 3 Others Counsel for Petitioner :- Abdul Mateen Counsel for Respondent :- C.S.C.,Satish Chaturvedi

¶2

Hon'ble Mrs. Sunita Agarwal,J.

¶3

Heard learned counsel for the petitioner, learned Standing counsel and Sri Satish Chaturvedi 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

Learned counsel for the respondent-bank upon instruction submits that no recovery certificate has yet been issued, however, a demand notice has been sent to the petitioner. The outstanding dues of the petitioner as on date is approximately Rs.9,06518/- and interest.

¶6

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

¶7

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.

¶8

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

¶9

The recovery proceedings shall remain in abeyance provided;

¶10

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

¶11

(2) The first installment of Rs.1,00,000/- shall be paid on or before 19th September 2018.

¶12

(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.

¶13

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

¶14

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

¶15

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

¶16

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

¶17

Order Date :- 18.8.2018/Himanshu

Wajid Ali v. State of U P and 3 Others

Case brief

What is this about?

What did the court decide?

Wajid Ali v. State of U P and 3 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

Poshaki Lal Vs State of U.P. and 2 Others

Munish Chandra Gupta Vs State of U.P. and 2 Others

Sri Ram Saran Vs State of U.P. and 3 Others

Gajraj Singh Vs State of U.P. and 3 Others

Mohd. Anees Vs State of U.P. and 2 Others

Arvind Kumar Vs State of U.P. and 2 Others