Allowed

Ramautar v. U.P. Cooperative Village Devolopment Bank Ltd. Hardoi and Another

Allahabad HC22 Feb 2024WRIC/1779/2024

Case brief

AI extract

What is this about?

The petitioner challenged a demand notice for an outstanding agricultural loan. With mutual consent, the High Court disposed of the writ petition by directing repayment in installments and ordering the banking respondent to stay recovery proceedings.

What did the court decide?

Recovery and auction proceedings to be kept in abeyance; petitioner directed to deposit Rs. 50,000 within four weeks and balance in six quarterly installments starting 23.06.2024.

Ramautar vs U.P. Cooperative Village Devolopment… — Service and Employment | Allahabad HC (2024)

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Neutral Citation No. - 2024:AHC-LKO:16084

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Court No. - 6

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Case :- WRIT - C No. - 1779 of 2024

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Petitioner :- Ramautar

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Respondent :- U.P. Cooperative Village Devolopment Bank Ltd. Hardoi And Another Counsel for Petitioner :- Amit Srivastava,Mohd. Arshad Khan Counsel for Respondent :- Vinod Kumar Singh

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Hon'ble Alok Mathur,J.

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Heard SRi Amit Srivastava, learned counsel for the petitioner as well as Sri Vinod Kumar Singh, learned counsel appearing on behalf of respondent-bank and perused the record.

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By means of the present writ petition, the petitioner has challenged the demand notice dated 05.02.2024 whereby the respondents - bank is proceeding to realize the outstanding amount of loan taken by the petitioner.

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Facts of the present case are that the petitioner has taken agricultural loan for an amount of Rs. 1,80,000/- for agricultural purpose and he had repaid a portion of the said loan but due to factors beyond his control he could not repay the entire loan amount in time. Consequent to which impugned demand notice has also been issued against the petitioner and total outstanding loan amount of Rs. 238000/- is due till 12.02.2024.

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In view of the abovesaid facts, the petitioner approached this Court for redressal of his grievances by filing present writ petition under Article 226 of the Constitution of India.

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Learned counsel for the petitioner submits that the petitioner is ready and willing to deposit the total outstanding loan amount in installments.

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Learned counsel for the respondent-bank on the basis of instructions submits that in case the petitioner is ready and willing to deposit the entire loan amount in easy installments, the respondent-bank will have no objection to the same.

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Accordingly, with the consent of the parties the petition is disposed of finally with following directions:-

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(i) The petitioner shall deposit an amount of Rs. 50,000/within four weeks from today.

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(ii) In case the petitioner deposits the said amount, the recovery /auction proceedings initiated against the petitioner shall be kept in abeyance.

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(iii) The remaining amount shall be deposited by the petitioner in six equal quarterly installments starting from 23rd June, 2024.

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(iv) The respondent bank shall intimate to the petitioner the total outstanding amount along with interest prior to falling due of the last installment so that the petitioner can pay the entire amount along with interest in the last installment.

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(v) In case the petitioner does not pay or fails in depositing any of the aforesaid installments the benefit of this order shall not be available to him and the bank shall be at liberty to recover the same in accordance with law.

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(Alok Mathur, J.)

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Order Date :- 22.2.2024 Ravi/

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Digitally signed by :- RAVI SHANKAR SRIVASTAV High Court of Judicature at Allahabad, Lucknow Bench

Ramautar v. U.P. Cooperative Village Devolopment Bank Ltd. Hardoi and Another

Case brief

What is this about?

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Ramautar v. U.P. Cooperative Village Devolopment Bank Ltd. Hardoi and Another

Case brief

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