Allowed

Maharaj Singh v. State of U.P. and 2 Others

Allahabad HC17 Jun 2020WRIC/9682/2020

Case brief

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What is this about?

The High Court granted relief to a debtor facing recovery proceedings. The Court allowed installment payments of the outstanding loan amount and stayed recovery proceedings while the petitioner complied with the payment schedule.

What did the court decide?

Leave to deposit initial amount in two months, balance in four quarterly installments, stay on recovery proceedings, waiver of recovery charges.

Maharaj Singh Vs State of U.P. and 2 Others — Banking and Recovery | Allahabad HC (2020)

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Court No. - 48

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Case :- WRIT - C No. - 9682 of 2020

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Petitioner :- Maharaj Singh Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Rajesh K.S. Chaudhary Counsel for Respondent :- C.S.C.,Amrish Sahai

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Hon'ble Ashwani Kumar Mishra,J.

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It is stated that petitioner has taken loan for agriculture, but the same could not be repaid as per the terms of agreement. A recovery certificate dated 21.8.2019 for a sum of Rs.301773/- plus other charges has been issued against the petitioner. This writ petition has been filed with the averment that petitioner is ready and willing to deposit the amount, in case the petitioner is permitted to do so in easy installments.

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Notice on behalf of respondent nos.1 & 2 has been accepted by learned Standing Counsel, whereas Sri Amrish Sahai, learned counsel has accepted notice on behalf of respondent no.3 Bank.

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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.50,000/- 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 within the period prescribed, the respondent Bank shall provide a fresh schedule for re-payment of balance amount in four quarterly installments and the same shall be deposited by the petitioner, accordingly.

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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 initial amount and thereafter the 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.

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Order Date :- 17.6.2020 Ranjeet Sahu

Maharaj Singh v. State of U.P. and 2 Others

Case brief

What is this about?

What did the court decide?

Maharaj Singh v. State of U.P. and 2 Others

Case brief

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What did the court decide?

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