Rajiya Bai v. Branch Manager, U.P. Sahkari Gram Vikas Bank Ltd. Bhinga Shrawasti and Another

Allahabad HC23 Jul 2024WRIC/6228/2024

Case brief

AI extract

What is this about?

Petitioner sought deferment of loan auction citing financial hardship. Court, with parties' consent, ordered partial deposit of Rs.1.25 lakh and installment payment of balance to stay auction proceedings.

What did the court decide?

Deposit of Rs.1,25,000 in two weeks; balance paid in 6 equal quarterly installments; recovery auction stayed.

Rajiya Bai vs Branch Manager, U.P. Sahkari Gram Vikas… — Banking and Recovery | Allahabad HC (2024)

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Neutral Citation No. - 2024:AHC-LKO:49515

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Court No. - 7

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Case :- WRIT - C No. - 6228 of 2024

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Petitioner :- Rajiya Bai Respondent :- Branch Manager, U.P. Sahkari Gram Vikas Bank Ltd. Bhinga Shrawasti And Another Counsel for Petitioner :- Daya Shankar Yadav Counsel for Respondent :- Vinod Kumar Singh

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Hon'ble Alok Mathur,J.

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Heard Sri Daya Shankar Yadav, learned counsel for the petitioner as well as Sri Vinod Kumar Singh on behalf of the respondents - Bank.

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The petitioner has approached this Court on the eve of the auction being conducted by the respondents bank for recovery of the outstanding amount due from the petitioner on account of the loan taken by him for an amount of Rs.70,000/- in 2006. As per the demand notice issued by the respondent-bank on 2.12.2023 the total outstanding amount has been shown to be Rs.4,20,589/- but on the basis of the instructions learned counsel for the respondent bank has submitted that as on 16.7.2024 the outstanding amount is Rs.4,75,005/- .

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It has been submitted that the petitioner is ready and willing to pay the said loan but looking to his financial condition and also the fact that he is a farmer easy installments may be fixed so that entire amount may be paid back by him and also that the auction proceedings may be deferred considering the fact that the petitioner has prayed only for holding of the auction and submits that he can deposit an amount of Rs.1,25,000/- within next two weeks.

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Sri Vinod Kumar Singh, learned counsel for respondents, on the basis of the instructions, submits that the bank has no objection in case the petitioner is wiling to pay the entire dues in installments.

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In view of the above, with the consent of the parties, this petition is disposed of in following terms:-

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(i) The petitioner shall deposit an amount of Rs.1,25,000/within next two weeks from today i.e. by 6th August, 2024.

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(ii) On deposition of the said amount, the recovery proceedings against the petitioner in pursuance of the recovery auction letter

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No.105/2024-25 dated 12.6.2024, as contained in Annexure No.1 to the writ petition, shall be kept in abeyance.

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(iii) On deposit of Rs.1, 25,000/- the respondent Bank shall furnish fresh statement of account to the petitioner and the remaining outstanding amount shall be deposited in 6 equal quarterly installments commencing from 15.10.2024 with the bank. The payment of installments shall be made within seven days of the start of each quarter.

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(iv). The respondent bank shall inform the petitioner in advance about the outstanding amount which shall be deposited by the petitioner in the last installment.

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(v). In case the petitioner fails to deposit Rs.1,25,000/- as directed by this Court within the time prescribed or any of the installments subsequently falling due, the respondent - bank shall be at liberty to initiate recovery proceedings against the petitioner in accordance with law and the petitioner shall not be entitled to the benefit of this order.

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(Alok Mathur, J.)

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Order Date :- 23.7.2024 RKM.

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Digitally signed by :- RAKESH KUMAR MAURYA High Court of Judicature at Allahabad, Lucknow Bench

Rajiya Bai v. Branch Manager, U.P. Sahkari Gram Vikas Bank Ltd. Bhinga Shrawasti and Another

Case brief

What is this about?

What did the court decide?

Rajiya Bai v. Branch Manager, U.P. Sahkari Gram Vikas Bank Ltd. Bhinga Shrawasti and Another

Case brief

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What did the court decide?

What the court decided

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