Disposed

M/S Shri Man Narayan Polytax Pvt. Ltd. v. Allahabad Bank

Allahabad HC12 Jan 2021WRIC/5546/2020

Case brief

AI extract

What is this about?

Court hears writ petition concerning delayed possession and refund of sale proceeds. Petitioner directed to file fresh representation; court directs bank to decide within six weeks via reasoned order without adjudicating merits.

What did the court decide?

Petitioner to file fresh representation within two weeks; bank to decide via reasoned order within six weeks.

M/S Shri Man Narayan Polytax Pvt. Ltd. Vs Allahabad… — Banking and Recovery | Allahabad HC (2021)

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Court No. - 39

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Case :- WRIT - C No. - 5546 of 2020

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Petitioner :- M/S Shri Man Narayan Polytax Pvt. Ltd. Respondent :- Allahabad Bank Counsel for Petitioner :- Virendra Kumar Kori Counsel for Respondent :- Tarun Varma,Habib Ahmad

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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 Sri Habib Ahmad, learned counsel for the respondent bank.

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Instant writ petition has been filed with the following reliefs :

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"a- Issue a writ, order or direction in the nature of mandamus directing the respondent Bank to refund the sale proceed of Rs.17.00 lacs together with interest @18% per annum with monthly rest from the date of deposit till payment.

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b- Issue a writ, order or direction in the nature of mandamus restraining the Bank from receiving any compensation from the Highway Authority.

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c- .........

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d- ........."

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Learned counsel for the petitioner submits that the sale certificate has been issued by the bank in favour of the petitioner on 6.2.2017 but till date possession has not been handed over though the entire money has been deposited by the petitioner as is evident from the sale certificate itself. He further submits that since the bank has not handed over the possession of the mortgaged property, therefore, the bank may be directed to return the money to the petitioner. In this regard, the petitioner has also moved a representation before the bank on 14.11.2019 but till date the same has not been decided by the bank.

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Learned counsel for the respondent bank submits that some reasonable time may be allowed to the bank to consider the grievance of the petitioner.

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Considering the facts and circumstances of the case and without entering into the merit of the case, the writ petition is disposed of with the liberty to the petitioner to file a fresh representation before the respondent bank within two weeks from today. In case any such representation is filed, the same shall be considered and decided by the bank by means of a reasoned and speaking order within a period of six weeks from the date of filing of the representation.

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Order Date :- 12.1.2021 nd

M/S Shri Man Narayan Polytax Pvt. Ltd. v. Allahabad Bank

Case brief

What is this about?

What did the court decide?

M/S Shri Man Narayan Polytax Pvt. Ltd. v. Allahabad Bank

Case brief

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