Nitish Kumar and 3 Others v. State of Up and 2 Others
Case brief
What is this about?
Allahabad High Court, Court No. 33; WRIT - C No. 33471 of 2024; Neutral Citation 2025:AHC:9472; Nitish Kumar And 3 Others (petitioners; counsel Anoop Singh, Ashok Kumar Singh) v. State Of Up And 2 Others (respondents; counsel C.S.C. and Ms. Eshita Sand for respondent-Bank); single judge Hon'ble Vikram D. Chauhan, J.; Order Date 21.1.2025. Subject: settlement of bank dues by installments - Rs. 4,22,830/- due as on 2.8.2024 to be paid in eight equal monthly installments of minimum Rs. 50,000/- each from 01.02.2025, deposits due by 15th of each month, last installment with balance and upto date interest; recovery kept in abeyance upon compliance; default revives bank's lawful right of recovery. Keywords: bank dues, installment repayment, recovery in abeyance, writ petition disposed.
What did the court decide?
Petitioners permitted to discharge outstanding bank dues of Rs. 4,22,830/- in eight equal monthly installments of not less than Rs. 50,000/- each, payable on or before the 15th of each month commencing 01.02.2025, the last installment carrying the balance amount and upto date interest; recovery to remain in abeyance on compliance, failing which the bank may recover per law.