Disposed

Rameshwar Prasad Jaiswal v. State of U.P. and Another

Allahabad HC3 Feb 2021WRIC/3304/2021

Case brief

AI extract

What is this about?

The High Court disposed of a writ petition filed for quashing a demand notice and coercive recovery proceedings regarding a defaulted bookshop loan. The Court ordered repayment in installments and directed the bank to provide a detailed statement of account, ensuring no recovery charges apply if conditions are met.

What did the court decide?

Order to repay loan in four installments; respondent to provide detailed account statement; recovery proceedings kept in abeyance if conditions met.

Rameshwar Prasad Jaiswal Vs State of U.P. and Another — Banking and Recovery | Allahabad HC (2021)

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Court No. - 39

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Case :- WRIT - C No. - 3304 of 2021

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Petitioner :- Rameshwar Prasad Jaiswal Respondent :- State of U.P. and Another Counsel for Petitioner :- Shrawan Kumar Tripathi Counsel for Respondent :- C.S.C.

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Hon'ble Naheed Ara Moonis,J. Hon'ble Dinesh Pathak,J.

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Heard learned counsel for the petitioner and the learned Standing Counsel on behalf of respondent no. 1.

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The instant petition has been filed seeking following reliefs :

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"(i) Issue a writ, order or direction in the nature of certiorari for quashing the undated demand notice (Annexure No.1 to the writ petition), issued by the respondent No.2 against the petitioner;

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(ii) Issue a writ, order or direction in the nature of mandamus commanding the respondents not to adopt any coercive method against the petitioner in pursuance of the recovery notice undated issued by the respondent No.2 against the petitioner,

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(iii) Issue a writ, order or direction in the nature of mandamus commanding the respondent no.2 to provide to petitioner quarterly easy instalment in depositing the dues towards the loan amount."

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Submission of learned counsel for the petitioner is that the petitioner has taken loan from respondent no. 2 (District Manager, Uttar Pradesh Other Backward Class Finance and Development Corporation Limited Deoria, District Deoria) for running a book shop. It is further submitted that due to financial constraints, the petitioner could not deposit the aforesaid amount, however, he is ready and willing to pay the aforesaid amount in easy installments as may be fixed by this Hon'ble Court.

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Admittedly, the petitioner has taken a loan for Rs.38,000/but he could not deposit even a single penny and hence a recovery notice has been issued by respondent no.2.

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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 respondent no.2 in four installments;

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(ii) By way of first installment, the petitioner shall deposit

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Rs.7000/- of the total amount on or before 06.03.2021;

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(iii) On depositing the said amount, the respondent no.2 shall provide a statement of account to the petitioner within two weeks disclosing the exact amount disbursed as loan; exact amount, if any, repaid by the petitioner together with date of deposit; rate of interest and amount of interest charged by the respondent no.2;

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(iv) The respondent no.2 shall in the statement so supplied, itself calculate and indicate the amount of each installment together with the date of payments due;

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(v) Thus, the balance amount so indicated by the respondent no.2 shall be deposited by the petitioner through the remaining three equal quarterly installments;

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(vi) If the entire amount is deposited by the petitioner as directed above, no recovery charge shall be realized from him, and the recovery proceeding shall be kept in abeyance.

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

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Order Date :- 3.2.2021 VR/

Rameshwar Prasad Jaiswal v. State of U.P. and Another

Case brief

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Rameshwar Prasad Jaiswal v. State of U.P. and Another

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