Disposed

Ramveer Singh and Another v. State of U.P. and 2 Others

Allahabad HC5 May 2022WRIC/10887/2022

Case brief

AI extract

What is this about?

Petitioner challenged a recovery citation regarding an agricultural loan. The court disposed of the petition based on consent, allowing repayment via installments, remitting future penalties, and providing a default clause for revival of proceedings.

What did the court decide?

Petition disposed of on consent with terms for installment repayment, remission of future penalties, and automatic revival of recovery proceedings upon default.

Ramveer Singh and Another Vs State of U.P. and 2 Others — Banking and Recovery | Allahabad HC (2022)

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Court No. - 38

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Case :- WRIT - C No. - 10887 of 2022

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Petitioner :- Ramveer Singh And Another Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Harish Chandra Counsel for Respondent :- C.S.C.,Brahmanand Singh,Satish Chaturvedi

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Hon'ble Saumitra Dayal Singh,J.

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Heard Mr. Harish Chandra, learned counsel for the petitioner and Shri Brahmanand Singh, learned counsel for the respondent Bank.

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Challenge has been made to the recovery citation issued against the petitioner by the respondent-Bank. Against the agricultural loan availed by the petitioners , at present, the bank is claiming Rs. 2,74,535/- to be due against the petitioner together with due interest and other charges.

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At the outset learned counsel for the petitioner states that loan of Rs. 2,74,535/- has been availed by the petitioners. Owing to unforeseen circumstances, the petitioners could not repay the loan. In any case, the petitioners are desirous of liquidating their entire liability subject to latitude of time being granted. The bank has agreed to the same.

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In such circumstances, no useful purpose may be served in keeping the petition pending or for calling counter affidavit. Accordingly the present petition is disposed of with the consent of parties on the following terms:

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(i) The petitioner may deposit the entire amount of Rs. 2,74,535/- together with due interest directly with the respondent-Bank in nine installments.

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(ii) The first installment of Rs.29,535/- shall be paid on or before 31 May, 2022.

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(iii) Upon deposit of Rs.29,535/- by the petitioner, the respondent - Bank shall immediately communicate to the petitioner the exact amount being claimed from him including interest computation up to 20.02.2022 (on reducing balance).

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(iv) Petitioners shall thereafter deposit the remaining amount in equal quarterly installment of Rs.35,000/- each, which shall be paid on or before 31 August, 2022, 30 November, 2022, 28

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February, 2023, 31 May, 2023, 31 August, 2023, 30 November, 2023 and 28 February, 2024 respectively. The amount of interest (if any) being claimed by the respondent - Bank may be paid, by way of last installment, on or before 31 May, 2024.

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(v) Any amount that may have been deposited by the petitioner pursuant to the impugned recovery citation, may be adjusted against the deposit to be made under this order.

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Subject to the petitioner complying with all the terms of this order, no further amount may be charged by the bank and no amount shall become due by way of penalty or recovery charges as the entire amount would have been paid in compliance of directions issued under Article 226 of the Constitution.

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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 :- 5.5.2022 Shiv

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Digitally signed by SHIV KUMAR SHARMA Date: 2022.05.05 16:11:44 IST Reason: Location: High Court of Judicature at Allahabad

Ramveer Singh and Another v. State of U.P. and 2 Others

Case brief

What is this about?

What did the court decide?

Ramveer Singh and Another v. State of U.P. and 2 Others

Case brief

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What did the court decide?

What the court decided

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