Allowed

Ram Bahadur Singh v. State of U.P. and 2 Others

Allahabad HC10 Nov 2021WRIC/29489/2021

Case brief

AI extract

What is this about?

The court allowed a writ petition by directing the petitioner to deposit the outstanding loan amount in nine installments. The bank was directed to provide a simplified account statement detailing the loan, repayments, and interest to facilitate repayment. Non-compliance by the petitioner would revive recovery proceedings.

What did the court decide?

Petitioner to deposit recovered amount in nine installments; Bank to provide simplified account statement; No recovery charge if conditions met; Order vacated on default.

Ram Bahadur Singh Vs State of U.P. and 2… — Contract and Commercial Disputes | Allahabad HC (2021)

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Court No. - 6

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Case :- WRIT - C No. - 29489 of 2021

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Petitioner :- Ram Bahadur Singh Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Santosh Prakash Pandey,Ashok Kumar Pandey Counsel for Respondent :- C.S.C.,Rakesh Mishra

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Hon'ble Rohit Ranjan Agarwal,J.

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Heard Sri Ashok Kumar Pandey, learned counsel for the petitioner and Sri Rakesh Mishra, 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 quashing recovery certificate dated 10.02.2021 for Rs.7,16,882/- plus other charges.

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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 nine installments beginning from 31.12.2021.

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ii) By way of first installment, the petitioner shall deposit Rs.1,50,000/- on or before the date 31.12.2021.

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(iii) On depositing the aforesaid amount of Rs.1,50,000/-, 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 eight equal quarterly installments from 01.04.2022 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 :- 10.11.2021 V.S.Singh

Ram Bahadur Singh v. State of U.P. and 2 Others

Case brief

What is this about?

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Ram Bahadur Singh v. State of U.P. and 2 Others

Case brief

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What did the court decide?

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