Disposed

Shiv Jatan Yadav v. State of U.P. and 3 Others

Allahabad HC9 Feb 2021WRIC/4318/2021

Case brief

AI extract

What is this about?

In writ petition against bank recovery order, High Court allowed petitioner to deposit dues in five installments, waived recovery charges on compliance, and directed bank to provide account statement with installment schedule.

What did the court decide?

Order to deposit entire dues in five installments; waive recovery charges on compliance; bank to provide account statement and installment schedule.

Shiv Jatan Yadav Vs State of U.P. and 3 Others — Banking and Recovery | Allahabad HC (2021)

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Court No. - 39

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Case :- WRIT - C No. - 4318 of 2021

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Petitioner :- Shiv Jatan Yadav Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Vikash Chandra Tiwari Counsel for Respondent :- C.S.C.,Krishna Kant Tiwari

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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, learned Standing Counsel appearing on behalf of behalf of respondent nos. 1 to 3 and Sri K.K. Tiwari, learned counsel appearing on behalf of respondent no. 4.

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This writ petition has been filed seeking following reliefs:-

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"(i) issue a writ, order or direction in the nature of certiorari and quash the impugned recovery dated 15.02.2020 passed by the respondent no. 3 (Annexure No. 1 to this writ petition).

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(ii) issue a writ, order or direction in the nature of mandamus directing the respondents provide the copy of the account and loan amount may be allow to deposit in easy installment and not to adopt any coercive method against the petitioner in pursuance of impugned recovery dated 15.02.2020.

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(iii) issue a writ, order or direction in the nature of mandamus directing the respondents to realize the amount in easy installment except recovery charges and also take simple interest."

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Learned counsel for the respondents submits that the petitioner has taken two loans from the respondent-bank and the said loan amounts have been deposited in two separate bank accounts. As the petitioner has failed to deposit the due amount, it was declared as NPA. Thereafter, the recovery citation has been issued against the petitioner to the tune of Rs. 14,99,117/-.

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Learned counsel for the petitioner submits that the petitioner is ready to deposit the amount of Rs. 14,99,117 in easy installments, hence, some reasonable time may be granted.

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Learned counsel for the respondent-bank submits that the bank is interested in realizing the amount as such ready to take the money through easy installments as may be fixed by this Court.

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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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The petitioner shall deposit the entire amount due to the respondent no.3 in five installments.

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By way of first installment, the petitioner shall deposit an amount of Rs. 4,00,000/- within one month i.e. on or before 11.3.2021.

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On depositing the aforesaid amount, the bank shall provide a statement of account within two weeks thereafter disclosing the exact amount disbursed by the bank as loan, exact amount repaid by the petitioner together with dates of deposit, rate of interest and amount of interest charged by the bank.

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The bank shall in the statement so supplied, itself calculate and indicate the amount of each installment together with the date of payment due.

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Thus, the remaining balance amount so indicated by the respondent bank, shall be deposited by the petitioner in four equal quarterly installments.

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If the entire amount is deposited by the petitioner as indicated above, no recovery charge shall be realized from him.

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The recovery charges shall not be paid by the petitioner.

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In case of default of the conditions as mentioned above, this order shall stand automatically vacated and recovery proceeding shall revive from that stage.

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The writ petition is disposed of in the above terms.

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Order Date :- 9.2.2021 Saurabh

Shiv Jatan Yadav v. State of U.P. and 3 Others

Case brief

What is this about?

What did the court decide?

Shiv Jatan Yadav v. State of U.P. and 3 Others

Case brief

What is this about?

What did the court decide?

What the court decided

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