Dismissed

Hoshiyar Singh v. State of U.P. and Another

Allahabad HC12 Jun 2020WRIC/9357/2020

Case brief

AI extract

What is this about?

The High Court allowed the petitioner to repay a defaulted KCC, KOD, and OD loan in installments of Rs. 5,00,000 upfront followed by quarterly payments for the balance, quashing recovery charges and keeping proceedings in abeyance temporarily.

What did the court decide?

Deposit Rs.5,00,000 within two months; balance in four quarterly installments; no recovery charges; proceedings kept in abeyance.

Hoshiyar Singh Vs State of U.P. and Another — Banking and Recovery | Allahabad HC (2020)

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Court No. - 48

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Case :- WRIT - C No. - 9357 of 2020

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Petitioner :- Hoshiyar Singh Respondent :- State of U.P. and Another Counsel for Petitioner :- Rang Nath Pandey,Rahul Pandey Counsel for Respondent :- C.S.C.,Arvind Srivastava

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Hon'ble Ashwani Kumar Mishra,J.

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Heard learned counsel for the petitioner, learned Standing Counsel for the respondent State, and Sri Arvind Srivastava, learned counsel appearing for the respondent Bank.

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It is stated that petitioner has availed of loan vide three different loan accounts i.e. (i). KCC Loan No. 0245841001467, (ii). KOD Loan No. 0245897000301 and (iii). OD Loan No. 0245261005182 and has defaulted in its repayment, for which recovery proceedings have now been initiated against the petitioner. This writ petition has been filed with the averment that petitioner is ready and willing to deposit the defaulted amount, in case the petitioner is permitted to do so in easy installments. Learned counsel for the Bank has no objection to the proposal submitted by the petitioner in that regard.

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Having regard to the fact that petitioner has offered to pay the entire amount due against him, in my view, the ends of justice require that the petitioner be granted opportunity to deposit the entire outstanding amount due against him in the following manner:

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(i) Petitioner shall deposit a sum of Rs.5,00,000/- within a period of two months from today with the respondent Bank.

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(ii) In case the amount, as indicated above, is deposited by the period prescribed, the respondent Bank shall provide a fresh schedule for repayment of balance amount in four quarterly installments and the same shall be deposited by the petitioner, accordingly. Statement of account shall also be furnished to the petitioner.

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(iii) No recovery charges shall be recovered from the petitioner by the respondent authorities.

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(iv) Till the period prescribed for depositing a sum of Rs.5,00,000/- and thereafter during the period of deposit of installments, the recovery proceedings will be kept in abeyance. In case the petitioner defaults in depositing initial amount or thereafter installments within the stipulated period, it will be open for the respondents to start recovery proceedings against the petitioner.

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With the aforesaid observations/directions, the writ petition stands disposed of. No order as to costs.

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Order Date :- 12.6.2020 Anil

Hoshiyar Singh v. State of U.P. and Another

Case brief

What is this about?

What did the court decide?

Hoshiyar Singh v. State of U.P. and Another

Case brief

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What did the court decide?

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