Disposed

M/S China Town Bakery and Food Products v. Union of India and 2 Others

Allahabad HC9 Dec 2019WRIC/39096/2019

Case brief

AI extract

What is this about?

This order disposed of a writ petition filed by a borrower disputing recovery proceedings. The court allowed installment payments of the outstanding loan amount and stayed recovery proceedings, subject to the borrower’s compliance.

What did the court decide?

Recovery proceedings stayed pending payment of loan principal in specified installments; account statement application allowed contingent on first deposit.

M/S China Town Bakery and Food Products Vs Union of… — Service and Employment | Allahabad HC (2019)

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Court No. - 32

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Case :- WRIT - C No. - 39096 of 2019

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Petitioner :- M/S China Town Bakery And Food Products Respondent :- Union Of India And 2 Others Counsel for Petitioner :- Vijay Kant Dwivedi Counsel for Respondent :- A.S.G.I.

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Hon'ble Shashi Kant Gupta,J. Hon'ble Piyush Agrawal,J.

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Affidavit of service filed today by the learned counsel for petitioner is taken on record.

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A Vakalatnama has also been filed today by Sri Krishna Kant Tiwari on behalf of the learned counsel for the Respondents No. 2 & 3, the same is taken on record.

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Heard learned counsel for the petitioner, Sri Krishna Kant Tiwari, learned counsel for the respondent Bank and learned Standing Counsel for the State respondents.

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Learned counsel for the petitioner does not dispute the amount which is sought to be recovered from him.

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Admittedly, the petitioner took loan from the respondentBank concerned out of which petitioner has not paid substantial amount.

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Learned counsel for the petitioner submits that the petitioner is ready to deposit the entire amount in easy instalments. Learned counsel for the Bank states that the anxiety of the Bank is that the amount should be recovered back and has no objection if the instalments are fixed in the matter by this Court.

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Accordingly, this writ petition is disposed of with the following directions:

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(i) Petitioner shall deposit a sum of Rs. 10,00,000/- (rupees ten lacs only) on or before 31.1.2020 with the concerned bank and the rest of the outstanding amount shall be deposited in three equal instalments at the interval of three months i.e. on 30.4.2020, 31.7.2020 and 31.10.2020 respectively. These deposits shall be made before the Branch of the Bank from where the loan was taken.

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(ii) Recovery proceedings during this period shall remain in abeyance. In case petitioner commits default in depositing any of the aforesaid instalments within the stipulated period of time, it will be open to the respondents to start the recovery proceedings again by taking coercive process.

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(iii) Petitioner may file an application for supply of statement of account along with the duly stamped self addressed envelope. In case any such application is filed, the concerned branch of the Bank will give the same to the petitioner after deposit of the first instalment within fifteen days and in calculating the arrears, the amount (if any) already paid will be adjusted.

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(iv) If any fact stated by the petitioner is found to be incorrect, it will be open for the bank authorities to move an application for modification/recall of the order.

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(v) In case all the instalments are deposited as per the schedule fixed, the petitioner may approach the Collector concerned for waiving the recovery charges. In the event such an application is filed, it shall be dealt with in accordance with law by the authority concerned.

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Order Date :- 9.12.2019 vinay

M/S China Town Bakery and Food Products v. Union of India and 2 Others

Case brief

What is this about?

What did the court decide?

M/S China Town Bakery and Food Products v. Union of India and 2 Others

Case brief

What is this about?

What did the court decide?

What the court decided

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