Petitioner sought relief against bank dues. Court adjourned earlier session and fixed meeting between petitioner and Chief Manager on 14.02.2022. Petitioner must deposit Rs. 10 lacs to establish bona fides.
Petitioner to deposit Rs. 10 lacs; meet Bank Chief Manager on 14.02.2022 with proposal; stay coercive action; liberty reserved.
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IN THE HIGH COURT OF JUDICATURE AT PATNA Civil Writ Jurisdiction Case No.11776 of 2021
======================================================
Arun Kumar Agrawal, Son of Mohan Lal Agrawal, Resident of Mohallah-Sati Nath Bhaduri Lane, Bhatta Durgabadi, Purnea (Bihar).
... ... Petitioner/s
Versus
... ... Respondent/s
====================================================== Appearance : For the Petitioner/s : Mr. Abhishek, Advocate Mr. Subhen Sarkar, Advocate For the Respondent/s : Mr. Kumar Priya Ranjan, Advocate ======================================================
CORAM: HONOURABLE THE CHIEF JUSTICE
and
HONOURABLE MR. JUSTICE S. KUMAR ORAL JUDGMENT
(Per: HONOURABLE THE CHIEF JUSTICE) (The proceedings of the Court are being conducted by Hon’ble the Chief Justice/Hon’ble Judges through Video Conferencing from their residential offices/residences. Also the Advocates and the Staffs joined the proceedings through Video Conferencing from their residences/offices.)
Date : 03-02-2022
Petitioner has prayed for the following relief(s):-
Patna High Court CWJC No.11776 of 2021 dt.03-02-2022 2/6
On 20.01.2022, we have passed the following
order:-
“Shri Kumar Priya Ranjan, learned counsel appearing on behalf of the respondent Bank, under instructions from the Chief Manager of the respondent Bank, states that despite the conduct of the petitioner,
Patna High Court CWJC No.11776 of 2021 dt.03-02-2022 3/6
Bank is ready and willing to have the matter amicably resolved, subject to the petitioner further establishing his bona fides by depositing some amount within a period of one week from today. Also, petitioner has to increase his offer with regard to the waiver of interest. In any case, he has to pay the cost incurred by the Bank for initiating proceedings before different foras. Also, the petitioner must undertake to withdraw the Civil Suit filed by one of the family members.
Shri Kumar Priya Ranjan, learned counsel further states that as on date petitioner is liable to pay a sum of ₹1 crore 91 lacs (Principal amount plus interest accrued thereon till January, 2022).
Learned counsel for the petitioner states that his client is ready and willing to pay a sum of 1 crore 51₹ lacs in six equal monthly instalments, plus the interest which would accrue thereupon, from today onwards. We find that the mismatch is only of 40 lacs and₹ the amount of litigation charges/miscellaneous charges incurred by the Bank.
We notice that the parties have been continuously litigating before different foras, and in our considered view, it would be only prudent for them to arrive at an amicable settlement, more so in view of the petitioner’s stand taken before this Court, of not only undertaking to repay the amount in equal instalments, but also in default whereof, liable to be held up for having violated the orders passed by this Court, and thus committed contempt.
We are of the view that at this point in time, the Bank would be in a position to recover the entire amount for which they have been litigating over a period of time.
Let the parties ponder over their respective offers. On their request, matter is adjourned.
List this case on 3rd of February, 2022.
In the meanwhile, to establish his bona fides , petitioner shall further positively deposit a sum of 10₹ lacs with the respondent Bank.
Learned counsel for the petitioner states that this shall positively be done on or before 25th of January, 2022.
We clarify that the deposit of the amount shall be subject to the outcome of the present petition and without prejudice to the respective rights and contentions of the parties.
Patna High Court CWJC No.11776 of 2021 dt.03-02-2022 4/6
We are passing the said order only for the reason that at this point in time, the Debt Recovery Tribunal is not functional, for none stands appointed as a Presiding Officer.
We welcome the suggestion made by Shri Kumar Priya Ranjan, learned counsel appearing on behalf of the respondent Bank that the petitioner can sit with the Chief Manager of the respondent Bank for resolution of the disputes on 27th of January, 2022.
Learned counsel for the petitioner states that petitioner shall make himself available in the office of the said officer on 27th of January, 2022.”
In terms thereof, petitioner deposited a sum of
Rs. 10 lacs.
Petitioner, through learned counsel, reiterates his request for (a) waiver of interest of Rs. 40 lacs and (b) repayment of remaining amount of Rs. 1,41,00,000/- (Rupees one crore forty one lacs only) in six equal monthly installments.
Shri Kumar Priya Ranjan, learned counsel appearing on behalf of the respondent-Bank states that insofar as the issue of waiver of interest is concerned, it is for the authority to consider and as such, petitioner may approach the Respondent No. 2, namely, The Chief Manager Punjab National Bank. Katihar Circle Officer, Katihar giving a concrete proposal in that regard. Insofar as repayment of amount in installments is concerned, obviously, petitioner has to pay interest on the said amount.
Patna High Court CWJC No.11776 of 2021 dt.03-02-2022 5/6
We find the suggestion to be acceptable as such, as mutually agreed upon, we dispose of the present petition in the following terms:-
(i) petitioner shall make himself available in the office of the Respondent No. 2 namely, The Chief Manager Punjab National Bank. Katihar Circle Officer, Katihar, on 14.02.2022 at 10:30 A.M. when a proposal complete in all respect, shall be submitted for both waiver of interest as also repayment of the amount (principal plus interest) in equal monthly installments, spread over a period of six months;
(ii) We are sure that the respondent No. 2 shall take a decision accounting for all factors, including the prevalent economic conditions and hardship having arisen out of current pandemic Covid-19;
(iii) Such decision has to be taken keeping in mind the principle of parity as also the guidelines and directions issued by the headquarters of the Bank and the Reserve Bank of India;
(iv) The decision be communicated to the petitioner within a period of three weeks;
(v) Till the time proposal is pending with the authorities, no coercive action shall be taken against the
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petitioner;
(vi) Liberty reserved to the parties to take recourse to such remedies are otherwise available, should the need so arise subsequently;
(vii) However, we are hopeful that with the intervention of the respondent Bank, the matter would be resolved amicably.
The instant petition sands disposed of in the aforesaid
terms.
Interlocutory Application(s), if any, stands disposed
of.
(Sanjay Karol, CJ)
( S. Kumar, J)
Sujit/-
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3 issues framed by the court
Whether the Court should dispose of the writ petition for an accounting of bank dues in the absence of functional Debt Recovery Tribunal.
Whether the parties should be directed to submit a proposal for waiver of interest and installment repayment to the Bank authorities.
Whether coercive action should be stayed pending the decision of the Bank on the repayment proposal.
Arun Kumar Agrawal
The Punjab National Bank through Regional Manager Katihar Circle, Katihar
The Chief Manager Punjab National Bank. Katihar Circle Officer, Katihar
The Chief Manager-Cum-Authorized Officer Branch Officer Purnea (Katihar Circle), Purnea
Chief Justice
S. Kumar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
