Court disposed of petitioner's writ challenging an e-auction notice. Directing payment of outstanding debt in installments to 2020, stayed the auction upon conditional compliance.
Stay of auction; petitioner directed to deposit Rs. 3,89,354.01/- by 30.11.2019 and balance in installments up to Jan 2020.
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Court No. - 29
Case :- WRIT - C No. - 33313 of 2019
Petitioner :- Hakim Singh Respondent :- Authorised Officer Punjab National Bank And Another Counsel for Petitioner :- G.K. Srivastava Counsel for Respondent :- Sanjai Singh
Hon'ble Pankaj Mithal,J. Hon'ble Vivek Agarwal,J.
Heard Sri G.K. Srivastava, learned counsel for the petitioner and Sri Sanjai Singh, learned counsel for Punjab National Bank.
The petitioner is aggrieved by the e-auction notice dated 14.09.2019.
The petitioner submits that he is ready and willing to pay the entire amount if some reasonable time is allowed and that his property may be saved from the auction.
The e-auction notice dated 14.09.2019 had fixed 18.10.2019 as the date for auction but on the said date for some reason auction could not take place and no fresh has been notified.
The writ petition makes it clear that on 01.10.2016 a sum of Rs. 8,89,354.01/- was due and payable by the petitioner.
Since the petitioner is ready and willing to pay the entire amount with up to date interest, in the ends of justice, we dispose off the writ petition with the direction to the petitioner to deposit a sum of Rs. 3,89,354.01/- by 30.11.2019 and the balance amount of Rs. 5,00,000/- in two installments of Rs. 2,50,000/- each payable in the months of December, 2019 and January, 2020. The amount of interest that may accrue on the aforesaid outstanding amount from 01.10.2016 till date shall be payable by the petitioner in the month of March, 2020.
In the event of default in payment of any of the installments as fixed above, the benefit of this order would come to an end automatically.
The writ petition stands disposed off .
Order Date :- 21.10.2019 Nirmal Sinha
3 issues framed by the court
Whether the writ petitioner eligible for stay of e-auction by depositing part performance of debt
Whether the court can allow time for deposit of outstanding amount to prevent auction
Whether the petitioner ready and willing to pay entire debt entitles him to relief in ends of justice
Hakim Singh
Authorised Officer Punjab National Bank
Another
Pankaj Mithal
Vivek Agarwal
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
