Disposed

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

Allahabad HC18 Aug 2018WRIC/27923/2018

Case brief

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What is this about?

The High Court disposed of a writ petition regarding recovery proceedings instituted due to unpaid bank loan installments. The court directed the proceedings to remain in abeyance conditionally upon the petitioner's payment of the entire outstanding amount with interest in scheduled installments over six quarters. No recovery charges are to be levied if the schedule is followed, with immediate rec

What did the court decide?

Recovery proceedings stayed conditional upon payment of due amount with interest in scheduled installments; no recovery charges if schedule met; immediate recovery upon default.

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

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Court No. - 36 Case :- WRIT - C No. - 27923 of 2018 Petitioner :- Gajraj Singh Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Ashutosh Mishra Counsel for Respondent :- C.S.C.,Sudha Pandey Hon'ble Mrs. Sunita Agarwal,J.

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Heard learned counsel for the petitioner, learned Standing counsel and Ms. Sudha Pandey 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 upto date interest in equal installments to be deposited before the revenue authorities.

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

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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 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 :- 18.8.2018/Himanshu

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

Case brief

What is this about?

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

Case brief

What is this about?

What did the court decide?

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