Allowed

Kaushlendra Singh v. State of U.P. and 03 Others

Allahabad HC20 Nov 2018WRIC/38004/2018

Case brief

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What is this about?

The High Court allowed a petitioner facing recovery proceedings for an unpaid loan. Directing suspension of proceedings, the court mandated payment of the entire outstanding amount with interest in six quarterly installments. Payment of dues exempts the petitioner from recovery charges.

What did the court decide?

Recovery proceedings are suspended. Petitioner directed to pay entire dues with interest in six quarterly installments; compliance exempts him from recovery charges.

Kaushlendra Singh Vs State of U.P. and 03 Others — Banking and Recovery | Allahabad HC (2018)

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Court No. - 36

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Case :- WRIT - C No. - 38004 of 2018 Petitioner :- Kaushlendra Singh Respondent :- State Of U.P. And 03 Others Counsel for Petitioner :- Pramod Kumar Pandey Counsel for Respondent :- C.S.C.,Krishna Mohan Asthana

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Hon'ble Mrs. Sunita Agarwal,J.

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Heard learned counsel for the petitioner, learned Standing Counsel and Shri K.M. Asthana, 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 equal installments to be deposited before the bank authorities.

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(2) The first installment of Rs.1,00,000/- shall be paid within a period of one month from today.

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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 :- 20.11.2018/Jyotsana

Kaushlendra Singh v. State of U.P. and 03 Others

Case brief

What is this about?

What did the court decide?

Kaushlendra Singh v. State of U.P. and 03 Others

Case brief

What is this about?

What did the court decide?

What the court decided

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