Disposed

Jahid v. State of U.P. and 3 Others

Allahabad HC27 Aug 2018WRIC/28784/2018

Case brief

AI extract

What is this about?

In a writ petition regarding recovery proceedings for a defaulted loan, the court disposed of the matter by keeping recovery proceedings in abeyance. The direction mandates the petitioner to deposit the outstanding amount with interest in six equal installments, waiving recovery charges upon compliance.

What did the court decide?

Recovery proceedings kept in abeyance upon payment of dues with interest in six equal installments; recovery charges waived upon compliance.

Jahid 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. - 28784 of 2018

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Petitioner :- Jahid Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Sunil Kumar Tiwari Counsel for Respondent :- C.S.C.,Satish Chaturvedi

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Hon'ble Mrs. Sunita Agarwal,J.

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Heard learned counsel for the petitioner, learned Standing counsel and Sri Satish Chaturvedi,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 six equal installments to be deposited before the bank authorities.

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(2) The first installment of Rs. 20,000/- shall be paid on or before 28th September, 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 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 :- 27.8.2018 Pratima

Jahid v. State of U.P. and 3 Others

Case brief

What is this about?

What did the court decide?

Jahid 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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