Disposed

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

Allahabad HC29 Aug 2018WRIC/29010/2018

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What is this about?

The court disposed of a writ petition regarding loan recovery. Directions were issued to keep recovery proceedings in abeyance if the petitioner repays the entire outstanding amount with interest in eight equal installments within the specified timeline. Defaults would allow immediate recovery.

What did the court decide?

Recovery proceedings kept in abeyance against the petitioner on terms of repaying the entire outstanding amount with interest in eight equal installments starting by 30 September 2018.

Ramvir 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. - 29010 of 2018 Petitioner :- Ramvir Singh Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Rajesh Kumar,Brij Raj Verma 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 petitioners, learned Standing Counsel and Sri B.N. Singh, 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 up-to-date interest in eight equal installments to be deposited before the bank authorities.

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(2) The first installment of Rs.1,00,000/- shall be deposited on or before 30th 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 eight equal 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 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 :- 29.8.2018/Brijesh

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

Case brief

What is this about?

What did the court decide?

Ramvir Singh 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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