Disposed

Narayan Lal v. State of U.P. and 4 Others

Allahabad HC26 Jun 2019WRIC/20709/2019

Case brief

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What is this about?

The High Court disposed of a writ petition seeking quashing of a recovery citation issued by a bank. The court directed the petitioner to pay dues in installments, obtain a clarified account statement from the bank, and stipulated that failure to comply would revive recovery proceedings without charges.

What did the court decide?

Recovery citation quashed subject to deposit of dues in installments; bank to provide simplified account statement.

Narayan Lal Vs State of U.P. and 4 Others — Banking and Recovery | Allahabad HC (2019)

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Court No. - 35

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Case :- WRIT - C No. - 20709 of 2019

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Petitioner :- Narayan Lal Respondent :- State Of U.P. And 4 Others Counsel for Petitioner :- Vinay Kumar Pathak Counsel for Respondent :- C.S.C.,Ashish Agrawal

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Hon'ble Rohit Ranjan Agarwal,J.

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Heard Sri Vinay Kumar Pathak, learned counsel for the petitioner and Sri B.N. Singh, learned counsel for the respondent-bank.

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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 recovery citation dated 30.5.2019 for Rs. 2,45,625/- plus other charges.

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The petitioner had taken a loan of Rs. 1,00,000/- for agricultural purpose. 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 along with 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 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 five installments beginning from 31.7.2019.

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(ii) By way of first installment, the petitioner shall deposit Rs. 60,000/- on or before the date 31.7.2019.

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(iii) On depositing the aforesaid amount of Rs. 60,000/-, the respondent bank shall provide a statement of account

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to the petitioner within two weeks thereafter disclosing the exact amount disbursed by the bank as loan; exact amount/s repaid by 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 four quarterly installments from 31.10.2019 onwards.

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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 :- 26.6.2019 S. Singh

Narayan Lal v. State of U.P. and 4 Others

Case brief

What is this about?

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Narayan Lal v. State of U.P. and 4 Others

Case brief

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