Disposed

Raj Pratap Singh v. State of U.P. and 3 Others

Allahabad HC11 Aug 2021WRIC/17030/2021

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition filed by a loan defaulting petitioner. The Court granted relief by directing the petitioner to deposit the dues in installments and the bank to provide a simplified account statement, staying further coercive steps contingent on compliance.

What did the court decide?

Petitioner directed to deposit loan amount in installments; Bank directed to provide simplified account statement if first installment deposited.

Raj Pratap Singh Vs State of U.P. and 3 Others — Banking and Recovery | Allahabad HC (2021)

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Court No. - 32

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Case :- WRIT - C No. - 17030 of 2021

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Petitioner :- Raj Pratap Singh Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Dwijendra Prasad Counsel for Respondent :- C.S.C.,Satish Chaturvedi

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Hon'ble Rohit Ranjan Agarwal,J.

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Heard learned counsel for the petitioner and Sri Pankaj Srivastava, learned counsel for the respondent bank.

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With the consent of learned counsel for the parties, this writ petition is being finally disposed of at this stage without calling for a counter affidavit.

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By this writ petition, the petitioner has prayed for direction upon the respondent no. 2 to decide the representation dated 18.12.2019 as well as not to take any coercive steps against the petitioner in regard to recovery of loan amount.

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The petitioner had taken a loan of Rs.5,00,000/- for agricultural purpose. It is admitted to the petitioner that a default has been committed by the petitioner in making timely repayments of that loan. Consequently, recovery proceedings have been initiated against him.

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Learned counsel for the petitioner submits that the petitioner is ready to deposit the entire recovery amount within the time fixed by this Court.

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Learned counsel appearing for the bank fairly states that the bank is interested in realizing the entire amount alongwith interest. If the petitioner deposits the amount within the time allowed by this Court, no further action shall be taken against the petitioner by the bank.

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On the facts and circumstances of the case and in the interest of justice, the writ petition is disposed of with the following directions:

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i) The petitioner shall deposit the entire amount due to the bank in eight installments beginning from 10.10.2021.

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ii) By way of first installment, the petitioner shall deposit Rs.2,00,000/- on or before the date 10.10.2021.

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(iii) On depositing the aforesaid amount of Rs.2,00,000/-, the respondent bank shall provide a statement of account to the petitioner within two weeks thereafter disclosing the exact amount disbursed by the bank as loan; exact amount/s repaid by the petitioner together with dates of deposit; rate of interest and amount/s of interest charged by the bank. Such statement be expressed in such terms/language as may be easy to comprehend even by a lay-man such as the petitioner.

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(iv) The bank shall in the statement so supplied, itself calculate & indicate the amount/s of each installment together with the date of payments due.

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(v) Thus, the balance amount so indicated by the bank shall be deposited by the petitioner through the remaining seven equal quarterly installments from 01.12.2021 onwards.

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(vi) If the entire amount is deposited by the petitioner as directed above, no recovery charge shall be realized from the petitioner.

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(vii) In case of default of the conditions as mentioned above, the present order shall stand automatically vacated and recovery proceedings shall revive from that stage.

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Order Date :- 11.8.2021 Shekhar

Raj Pratap Singh v. State of U.P. and 3 Others

Case brief

What is this about?

What did the court decide?

Raj Pratap Singh v. State of U.P. and 3 Others

Case brief

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What did the court decide?

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