Disposed

Daroga v. U.P Sahkari Gram Vikas Bank Ltd.Lko. and Another

Allahabad HC13 Jun 2022/3732/2022

Case brief

AI extract

What is this about?

The High Court granted liberty to the petitioner to repay the outstanding loan and interest in a specific installment schedule without auction of his property, subject to conditions and a statement of account from the bank.

What did the court decide?

Liberty to repay the outstanding loan amount including interest by depositing 25% by 27.06.2022 and clearing the balance in five quarterly installments; property not to be auctioned.

Daroga Vs U.P Sahkari Gram Vikas Bank Ltd.Lko. and… — Banking and Recovery | Allahabad HC (2022)

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Court No. - 7

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Case :- WRIT - C No. - 3732 of 2022 Petitioner :- Daroga Respondent :- U.P Sahkari Gram Vikas Bank Ltd.Lko. And Another

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Counsel for Petitioner :- Sachin Srivastava Counsel for Respondent :- Vinod Kumar Singh

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Hon'ble Subhash Vidyarthi,J.

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Heard learned counsel for the petitioner and Sri Vinod Kumar Singh, learned counsel for the opposite party-Bank.

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By means of the instant writ petition, the petitioner has challenged the auction notice dated 30.05.2022 issued by the Uttar Pradesh Sahkari Gram Vikas Bank Limited, Bahraich for recovery of amount of loan given to the petitioner's father alongwith interest thereof.

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At the outset, learned counsel for the petitioner states that the petitioner is willing to pay the outstanding amount of loan but as he cannot arrange the requisite sum in one lump sum, the petitioner is praying for liberty to repay the amount in installments.

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Learned counsel for the opposite party-Uttar Pradesh Sahkari Gram Vikas Bank Limited bank has no objection to the aforesaid prayer of the petitioner.

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Keeping in view the aforesaid submission, it is provided that the petitioner will deposit a sum of rupees equivalent to 25% of the amount due against him including interest thereon by 27th June, 2022 and he will repay the balance amount in 5 quarterly installments.

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The respondent-Bank will provide a statement of account to the petitioner within a week.

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As the petitioner is willing to repay the amount due against him, it is provided that his property will not be auctioned in furtherance of the notice dated 30.05.2022. However, in case the petitioner makes default in paying any of the installments, the benefit of this order will not be available to him.

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With the aforesaid direction, the writ petition is disposed of .

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Order Date :- 13.6.2022 Jaswant

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Digitally signed by JASWANT KUMAR Date: 2022.06.14 15:14:13 IST Reason: Location: High Court of Judicature at Allahabad, Lucknow Bench

Daroga v. U.P Sahkari Gram Vikas Bank Ltd.Lko. and Another

Case brief

What is this about?

What did the court decide?

Daroga v. U.P Sahkari Gram Vikas Bank Ltd.Lko. and Another

Case brief

What is this about?

What did the court decide?

What the court decided

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