Partly allowed

Radhika Prasad v. Icici Bank Ltd. Branch Civil Lines Gonda Thru. Branch Manager and Another

Allahabad HC21 Mar 2024WRIC/2739/2024

Case brief

AI extract

What is this about?

The court disposed of a writ petition seeking quashing of a recovery citation. It directed the petitioner to deposit Rs. 1,00,000 by 31.03.2024 and pay the balance in quarterly installments, with no coercive action pending compliance.

What did the court decide?

Deposit of Rs. 1,00,000 by 31.03.2024; balance in eight quarterly installments; no coercive action if terms are met; recovery proceedings revived on default.

Radhika Prasad vs Icici Bank Ltd. Branch Civil Lines… — Banking and Recovery | Allahabad HC (2024)

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Neutral Citation No. - 2024:AHC-LKO:24878

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Court No. - 5

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Case :- WRIT - C No. - 2739 of 2024

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Petitioner :- Radhika Prasad

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Respondent :- Icici Bank Ltd. Branch Civil Lines Gonda Thru. Branch Manager And Another Counsel for Petitioner :- Kunwar Bahadur Singh Counsel for Respondent :- Prashant Kumar,C.S.C.

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Hon'ble Abdul Moin,J.

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Heard learned counsel for the petitioner, Sri Sanjeev Singh, learned counsel, who files Vakalatnama on behalf of respondent no.1, and learned Standing Counsel appearing for respondent No. 2.

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With the consent of learned counsels for the parties, the writ petition is being decided finally.

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By this writ petition, the petitioner has prayed for quashing the recovery citation dated 21.11.2023 issued by opposite party no.2, a copy of which is Annexure No.1 to the petition.

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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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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.1,00,000/- with the respondent Bank on or before 31.03.2024. On deposit of the said amount, the bank will provide statement of account to the petitioner after adjusting the aforesaid amount. Thereafter, the balance amount along with up to date interest shall be paid by the petitioner in eight 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 respondentBank 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 recovery citation. 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.

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Order Date :- 21.3.2024 A. Katiyar

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Digitally signed by :- AMIT KATIYAR High Court of Judicature at Allahabad, Lucknow Bench

Radhika Prasad v. Icici Bank Ltd. Branch Civil Lines Gonda Thru. Branch Manager and Another

Case brief

What is this about?

What did the court decide?

Radhika Prasad v. Icici Bank Ltd. Branch Civil Lines Gonda Thru. Branch Manager and Another

Case brief

What is this about?

What did the court decide?

What the court decided

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