Disposed

Vilok Pal v. State of U P and 2 Others

Allahabad HC14 Dec 2018WRIC/41353/2018

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition seeking to quash a recovery certificate. The court directed the petitioner to deposit the dues in installments, requiring the bank to furnish a clear interest-free statement. Upon compliance, the recovery certificate will remain quashed.

What did the court decide?

Petitioner directed to deposit dues in installments; bank to provide clear statement of account. Upon compliance, recovery charge waived and proceedings stayed.

Vilok Pal Vs State of U P and 2 Others — Allahabad HC (2018) — LawSathi Research

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Court No. - 7

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Case :- WRIT - C No. - 41353 of 2018

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Petitioner :- Vilok Pal Respondent :- State Of U P And 2 Others Counsel for Petitioner :- Shilpa Ahuja Counsel for Respondent :- C.S.C.,Krishna Mohan Asthana

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Hon'ble Saumitra Dayal Singh,J.

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Heard learned counsel for the parties.

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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 certificate dated 20.08.2018 for Rs. 4,78,525/- plus other charges.

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The petitioner had taken a loan of Rs. 3,55,000/- for agricultural purpose in the year 2008. It is admitted to the petitioner that a default has been committed by the petitioner in making timely repayments of that loan. Consequently, recovery proceedings have been initiated against him.

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

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Learned counsel appearing for the bank fairly 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, the present writ petition is disposed of with the following directions:

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(i) The petitioner shall deposit the entire amount due to the bank in 8 installments.

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(ii) By way of first installment the petitioner shall deposit Rs. 60,000/- on or before the date 31.01.2019.

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(iii) On depositing the aforesaid amount of Rs. 60,000/- the respondent bank shall provide a statement of account to the petitioner within two weeks thereafter disclosing the exact amount disbursed by the bank as loan; exact amount/s repaid by

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the petitioner together with dates of deposit; rate of interest and amount/s of interest charged by the bank. Such statement be expressed in such terms/language as may be easy to comprehend even by a lay-man such as the petitioner.

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(iv) The bank shall in the statement so supplied, itself calculate & indicate the amount/s of each installment together with the date of payments due.

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(v) Thus, the balance amount so indicated by the bank shall be deposited by the petitioner through the remaining seven equal quarterly installments, beginning 30.04.2019.

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(vi) If the entire amount is deposited by the petitioner as directed above, no recovery charge shall be realized from the petitioner.

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(vii) In case of default of the conditions as mentioned above, the present order shall stand automatically vacated and recovery proceedings shall revive from that stage.

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Order Date :- 14.12.2018 Abhilash

Vilok Pal v. State of U P and 2 Others

Case brief

What is this about?

What did the court decide?

Vilok Pal v. State of U P and 2 Others

Case brief

What is this about?

What did the court decide?

What the court decided

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