Disposed

Sabir Khan and Anr. v. Punjab National Bank and 2 Ors.

Gauhati HC1 Jun 2022WP(C)/3529/2022

Case brief

AI extract

What is this about?

Petitioners challenged a bank notice demanding possession of mortgaged land due to loan default citing pandemic impact. The Court directed a partial deposit and stay of coercive action pending bank approval of a repayment proposal.

What did the court decide?

Direct deposit of Rs. 2,00,000/- within 15 days; stay on coercive action pending bank's response to future settlement proposal.

Sabir Khan and Anr. Vs Punjab National Bank and 2 Ors. — Banking and Recovery | Gauhati HC (2022)

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Page No.# 1/3

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GAHC010100162022

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THE GAUHATI HIGH COURT (HIGH COURT OF ASSAM, NAGALAND, MIZORAM AND ARUNACHAL PRADESH)

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Case No. : WP(C)/3529/2022

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SABIR KHAN AND ANR

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S/O- JAMAL UDDIN KHAN, VILL. AND P.O. MADHURBOND PT.-IX, OLD LAKHIPUR ROAD, SILCHAR, ASSAM-788001.

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2: BINA KHAN

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W/O- JAMAL UDDIN KHAN VILL. AND P.O. MADHURBOND PT.-XI OLD LAKHIPUR ROAD SILCHAR ASSAM-788001

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VERSUS

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PUNJAB NATIONAL BANK AND 2 ORS

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A GOVT. OF INDIA UNDERTAKING, HAVING ITS REGISTERED HEAD OFFICE AT 11, PLOT NO. -4, SECTOR-10, DWARKA NEW DELHI-110075, REPRESENTED BY ITS CHIEF MANAGING DIRECTOR.

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2:THE CHIEF MANAGER PUNJAB NATIONAL BANK CIRCLE SASTRA CENTRAL ROAD SILCHAR-788001 CACHAR ASSAM

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3:THE SENIOR MANAGER

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PUNJAB NATIONAL BANK REGIONAL OFFICE CACHAR REGION CENTRAL ROAD SILCHAR-788001 CACHAR ASSA

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Advocate for the Petitioner : MR. T BARUAH

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Advocate for the Respondent : SC, PNB

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BEFORE

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HON'BLE THE CHIEF JUSTICE(ACTING) HONOURABLE MR. JUSTICE SOUMITRA SAIKIA

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ORDER

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01.06.2022

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[N. Kotiswar Singh, CJ (Acting)]

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Heard Mr. P. Boiragi, learned counsel for the petitioners and Mr. A. Ganguli, learned Standing counsel for the Bank.

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2. In this petition, the petitioners have sought intervention of this Court qua the notice sent by the Punjab National Bank on 16.05.2020 directing the petitioners to hand over the physical possession of the secured assets to the Bank within 7(seven) days on receipt of the letter, which is a plot of land measuring 2 Katah & 8 Chatak vide deed No. 336 dated 18.03.2010 of dag No.

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9295,9296, 9297 2^nd RS Patta No. 1451 and Dag No. 9299 2^nd RS Patta No. 1452 Mouza: Ambikapur Pt IX, Pargana: Barakpur, Vill: Madhurbond, Bakarsha Mukam Point which was mortgaged for certain loan taken by the petitioners from the Bank.

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3. The learned counsel for the petitioners submits that an amount of Rs. 7,40,940/- is due to be paid to the Bank which they obtained from the Bank for the purpose of running a grocery shop. Unfortunately, because of pandemic situation which was prevailing very recently, they could not run the grocery shop properly, resulting in failure to pay the EMIs.

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4. Be that as it may, the learned counsel for the petitioners submits

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that they are willing to pay an amount of Rs. 2,00,000/- now and the remaining amount they would pay in installments.

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5. Considering the above submissions made by learned counsel for the petitioners, let the petitioners deposit a sum of Rs. 2,00,000/- within a period of 15 days and thereafter, submit an proposal to the Bank authority within two weeks and if the Bank agrees to the proposed settlement by the petitioners, Bank will consider the same in accordance with the prevailing norms.

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6. In that view of the matter, we close this petition with the direction to petitioners to deposit a sum of Rs. 2,00,000/- within a period of 15 days and thereafter, submit a proposal within two weeks to the Bank and Bank will, accordingly, intimate to the petitioners as to the future course of action that may be taken in connection with the aforesaid loan amount due.

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7. It is also made clear that in the event, the petitioners deposit the sum of Rs. 2,00,000/- within 15 days and till the bank informs of the future course of action to the proposal made by the petitioners, no coercive action be taken again the petitioners.

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8. With the above observations, the present petition stands closed with the liberty to the petitioners to approach the competent authority/forum if their grievances remain unaddressed.

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JUDGE CHIEF JUSTICE (ACTING)

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Comparing Assistant

Sabir Khan and Anr. v. Punjab National Bank and 2 Ors.

Case brief

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Sabir Khan and Anr. v. Punjab National Bank and 2 Ors.

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