Jiyaul Haq vs State of Up and 3 Others

Neutral Citation No. - 2024:AHC:112541-DB

Court No. - 21

Case :- WRIT - C No. - 11804 of 2024

Petitioner :- Jiyaul Haq Respondent :- State Of Up And 3 Others Counsel for Petitioner :- Rajesh Kumar Counsel for Respondent :- C.S.C.,Deepak Kumar Singh

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Hon'ble Manoj Kumar Gupta,J. Hon'ble Manish Kumar Nigam,J.

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The instant petition is directed against a sale notice dated 22.02.2024 issued by respondent-Finance Company for sale of the secured assets in exercise of its right under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

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Counsel for the petitioner submits that the petitioner is ready to pay the entire outstanding amount of the respondent-Finance Company along with up-to-date interest, in installments.

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Sri Deepak Kumar Singh, learned counsel appearing for the respondent-Finance Company, has no objection in case the entire amount along with interest is paid in installments.

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Accordingly and with consent of counsel for the parties, the petition is disposed of as follows: -

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(a) The petitioner shall deposit 20% of the total outstanding amount as upfront money by 31.07.2024.

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(b) The remaining amount will be deposited in three equal bimonthly installments, so that the entire liability is cleared within next six months.

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(c) In case of default in complying with the conditions stipulated above, the instant arrangement will stand discharged automatically and it shall become open to the respondent-Finance Company to proceed further in the matter in accordance with law.

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Order Date :- 15.7.2024 Nitika Sri.

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(Manish Kumar Nigam, J.) (Manoj Kumar Gupta, J.)

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Digitally signed by :- NITIKA SRIVASTAVA High Court of Judicature at Allahabad

Jiyaul Haq v. State of Up and 3 Others

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Jiyaul Haq v. State of Up and 3 Others

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