The High Court directed the petitioner to repay her bank loan default in six monthly installments, contingent on an initial 25 percent deposit, as agreed by the Bank.
Directed petitioner to deposit 25% of the default amount within one month, balance in two installments over five months; full liability cleared in six months.
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Court No. - 21
Case :- WRIT - C No. - 40434 of 2022
Petitioner :- Smt. Usha Devi Respondent :- Union Bank Of India And Another Counsel for Petitioner :- Arun Kumar Yadav Counsel for Respondent :- Ashish Agrawal
Hon'ble Manoj Kumar Gupta,J. Hon'ble Vikram D. Chauhan,J.
The petitioner has prayed for a mandamus directing the respondent-Bank to permit her to pay the amount in default towards the loan taken by her from the respondent-Bank in easy installments.
Learned counsel for the respondent-Bank Ms. Saumya Srivastava has no objection to the same. She, on instructions, states that the respondent-Bank is ready to accept the money in installments, provided 25 percent of the total remaining amount is deposited by the petitioner forthwith to show her bonafides and the remaining amount within 5 months.
Accordingly and in view of the agreement between the parties, the instant petition is disposed of as follows:
(a) The petitioner shall deposit 25 percent of the total amount within one month from today.
(b) The remaining amount will be deposited in two installments, i.e., each of two and half month, so that the entire liability is cleared within six months from today.
In case of default, the aforesaid arrangement will stand discharged automatically and it shall become open to the respondent-Bank to proceed in the matter in accordance with law.
(Vikram D. Chauhan, J.) (Manoj Kumar Gupta, J.)
Order Date :- 23.1.2023 Ruhi
Digitally signed by :- RUHI HASAN High Court of Judicature at Allahabad
2 issues framed by the court
Whether to permit the petitioner to pay the loan default amount in installments.
Whether the proposed installment plan is acceptable to the respondent Bank.
Smt. Usha Devi
Union Bank Of India
Another
Manoj Kumar Gupta
Vikram D. Chauhan
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
