Partly allowed

Fakire v. District Magistrate/Collector, Lko. and 3 Others

Allahabad HC9 Jan 2024WRIC/127/2024

Case brief

AI extract

What is this about?

Petitioner challenged auction notice of respondent Bank. Court directed deposit of Rs. 20,000 to obtain account statement, followed by balance dues in installments without recovery charges if terms met, preventing coercive action temporarily.

What did the court decide?

Petitioner to deposit Rs. 20,000 and balance in installments; no recovery charges; no coercive action if default avoided.

Fakire vs District Magistrate/Collector, Lko. and 3… — Banking and Recovery | Allahabad HC (2024)

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Neutral Citation No. - 2024:AHC-LKO:2119

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Court No. - 5

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Case :- WRIT - C No. - 127 of 2024 Petitioner :- Fakire Respondent :- District Magistrate/Collector, Lko. And 3 Others Counsel for Petitioner :- Ashish Kumar Dixit,Rajiv Kumar Bajpai,Suparna Mishra Counsel for Respondent :- C.S.C.,Vinod Kumar Singh

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Hon'ble Abdul Moin,J.

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Heard learned counsel for the petitioner, learned Standing Counsel appearing for respondents No.1 to 3 and Sri Vinod Kumar Singh, learned counsel appearing for respondent no.4Bank.

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By this writ petition, the petitioner has prayed for quashing the auction dated 08.01.2024 issued by opposite party no.4, a copy of which is Annexure No.3 to the petition.

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The property which has been put to auction which was scheduled on 08.01.2024, as per Sri Vinod Kumar Singh, learned counsel appearing for respondent no.4-Bank, has not been held.

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Learned counsel for the petitioner submits that petitioner is ready to deposit entire outstanding dues along with up to date interest provided he is given reasonable time.

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Sri Vinod Kumar Singh, learned counsel appearing for respondent Bank submits that an amount of Rs 5,70,596/- is outstanding due against the petitioner as on 30.09.2023/-.

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Learned counsel for the Bank submits that the Bank is interested in realisation of the amount and in case petitioner deposits the entire amount along with up to date interest within the time fixed by this Court, the Bank has no objection.

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Considering the aforesaid, the writ petition is disposed of with the following directions:-

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(i) The petitioner shall deposit a sum of Rs.20,000/- with the respondent Bank within four weeks from today. On deposit of the said amount, the bank will provide statement of account to the petitioner. Thereafter, the balance amount along with up to date interest shall be paid by the petitioner in 8 equal quarterly installments. The first installment shall be paid on or before 01.05.2024.

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(ii) The petitioner shall deposit the amount with respondent-

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Bank and no recovery charges shall be realised from the petitioner.

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(iii) Subject to payment as directed above, no coercive action shall be taken against the petitioner in pursuance of the impugned citation/auction notice. In the event, the petitioner commits any default in payment of the amount as directed above, the recovery proceedings shall stand revived and the Bank shall be at liberty to proceed against the petitioner in accordance with law including proceeding with the auction proceedings.

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Order Date :- 9.1.2024 J.K. Dinkar

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Digitally signed by :- JESHU KUMAR DINKAR High Court of Judicature at Allahabad, Lucknow Bench

Fakire v. District Magistrate/Collector, Lko. and 3 Others

Case brief

What is this about?

What did the court decide?

Fakire v. District Magistrate/Collector, Lko. and 3 Others

Case brief

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What did the court decide?

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