The court held that it is not the business of the High Court to fix instalments for loan repayment or interfere in purely financial transactions between a petitioner and a concerned bank.
Liberty to the petitioner to represent before the respondent bank (U.P. Cooperative Gramin Vikas Bank Limited) regarding instalments.
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Court No. - 39
Case :- WRIT - C No. - 14574 of 2019
Petitioner :- Chandrakant Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Omkar Nath Rai Counsel for Respondent :- C.S.C.,Abhishek Sharma
Hon'ble B. Amit Sthalekar,J. Hon'ble Piyush Agrawal,J.
Heard Sri Omkar Nath Rai, learned counsel for the petitioner, Sri S.B. Singh holding brief of Sri Abhishek Sharma, learned counsel for the respondents no.2 & 3 and the learned Standing Counsel for the respondent no.1.
The petitioner in the writ petition is seeking quashing of the order dated 18.03.2019 whereby the petitioner was directed to deposit a sum of Rs.4,39,694/- but he has failed to deposit the same, therefore, declaration of auction has been notified for 06.05.2019, copy of the declaration has been filed as Annexure3 to the writ petition in which the name of the petitioner finds place at Sl. No. 31.
The petitioner wants this Court to fix instalments.
In our opinion, it is not the business of the High Court nor does it fall within the jurisdiction of the High Court to fix instalments for repayment of loan. The petitioner has taken loan from the bank and it is purely a financial transaction between the petitioner and the concerned bank.
We, therefore, dismiss the writ petition with liberty to the petitioner to represent before the respondent no.2, Manager, U.P. Cooperative Gramin Vikas Bank Limited, Head Office, Lucknow.
Order Date :- 26.4.2019 N Tiwari
2 issues framed by the court
Whether the High Court has jurisdiction to direct a bank to fix instalments for repayment of a loan.
Whether the High Court can interfere in purely financial transactions between a borrower and a bank.
Chandrakant
State Of U.P.
U.P. Cooperative Gramin Vikas Bank Limited
B. Amit Sthalekar
Piyush Agrawal
As recorded by the court registry
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