Disposed

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

Allahabad HC18 Jun 2020WRIC/9904/2020

Case brief

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What is this about?

Writ petition filed by a defaulting loan borrower seeking relief from recovery proceedings. The High Court permitted an amicable settlement, directing the petitioner to deposit a sum in two months, after which the bank must provide a repayment schedule for the balance.

What did the court decide?

Petitioner directed to deposit Rs. 1,50,000 within two months; Bank to provide fresh repayment schedule for balance in four quarterly installments; recovery proceedings stayed.

Gurmej 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. - 9904 of 2020

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Petitioner :- Gurmej Singh Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Bhupendra Kuamr Tripathi,Shive Datta Yadav Counsel for Respondent :- C.S.C.

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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 State authorities and Sri S. D. Yadav, learned counsel for respondent Bank.

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It is stated that petitioner has taken loan for agricultural purposes, but the same could not be repaid as per the terms of agreement. A recovery certificate dated 2.1.2020 for a sum of Rs.7,28,025.89/- 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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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 Rs.1,50,000/- 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 by 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 the aforesaid amount 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.

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Order Date :- 18.6.2020 Ashok Kr.

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

Case brief

What is this about?

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

Case brief

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