Allowed

Rama Kant Paliwal v. State of U.P. and 02 Others

Allahabad HC25 Oct 2018WRIC/35466/2018

Case brief

AI extract

What is this about?

This writ petition sought quashing of a recovery notice regarding a dormant bank loan default. The court, on consents, imposed conditions allowing quashing contingent upon a partial deposit and repayment of the balance in installments, reviving proceedings upon default.

What did the court decide?

Quashing of recovery notice conditioned on deposit of Rs.4,00,000/- and repayment of balance in six quarterly installments.

Rama Kant Paliwal Vs State of U.P. and 02 Others — Service and Employment | Allahabad HC (2018)

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Court No. - 18

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Case :- WRIT - C No. - 35466 of 2018 Petitioner :- Rama Kant Paliwal Respondent :- State Of U.P. And 02 Others Counsel for Petitioner :- Lakshman Singh Counsel for Respondent :- C.S.C.,Pashupati Nath Tripathi

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Hon'ble Mahesh Chandra Tripathi,J.

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Heard learned counsel for the petitioner, Sri P.N. Tripathi, learned counsel appearing for respondent No. 4 and learned Standing Counsel for respondent Nos. 1, 2 and 3.

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With the consent of learned counsel for the parties, this writ petition is being finally disposed of at this stage without calling for a counter affidavit.

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By this writ petition, the petitioner has prayed for quashing impugned recovery notice dated 4.8.2018 for Rs.18,12,047/plus other charges.

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The petitioner has taken loan of Rs.9,50,000/- in the year 2012. Due to default being committed by the petitioner, recovery has been initiated.

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Learned counsel for the petitioner submits that the petitioner is ready to deposit the entire amount within the time fixed by this Court.

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Learned counsel appearing for the bank states that the bank is interested in realizing the entire amount alongwith interest. If the petitioner deposits the amount within the time allowed by this Court, no further action shall be taken against the petitioner by the bank.

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On the facts and circumstances of the case and in the interest of justice, I dispose of this writ petition with the following directions:

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The petitioner shall deposit an amount of Rs.4,00,000/- by 25.12.2018. On depositing the aforesaid amount, the bank shall provide a statement of account within two weeks from the date of deposit after adjusting the amount, if any, already deposited by the petitioner. The outstanding amount shall be deposited by the petitioner in six quarterly installments.

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First installment be paid on or before 25.3.2019 and thereafter within every three months. The amount shall be deposited by the petitioner in the bank. If the entire amount is deposited by the petitioner as directed above, no recovery

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charge shall be realized from the petitioner. In case of default in any of the conditions as mentioned above, the present order shall stand automatically vacated and recovery proceedings shall revive.

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Order Date :- 25.10.2018 RKP

Rama Kant Paliwal v. State of U.P. and 02 Others

Case brief

What is this about?

What did the court decide?

Rama Kant Paliwal v. State of U.P. and 02 Others

Case brief

What is this about?

What did the court decide?

What the court decided

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