Disposed

Sheojee Prasad, v. The Authorized Officer, Union Bank of India

Patna HC10 Mar 2022CWJC/2390/2022

Case brief

AI extract

What is this about?

High Court disposed of a writ petition regarding a debt dispute where the DRT was non-functional. The judge approved interim terms for the petitioner to deposit funds and seek a waiver of interest, prohibiting coercive action while authorities review the claim.

What did the court decide?

Petitioner restrained from coercive action while proposal pending; Bank to decide within 8 weeks; Petitioner to deposit Rs. 30 lacs.

Sheojee Prasad, Vs The Authorized Officer… — Contract and Commercial Disputes | Patna HC (2022)

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IN THE HIGH COURT OF JUDICATURE AT PATNA Civil Writ Jurisdiction Case No.2390 of 2022

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Sheojee Prasad, Son of Late Mahadev Prasad, Resident of 142, Maulabagh, Choudriyana Nala More, P.S. - Bhojpur, District - Bhojpur at Arrah, Pin Code 802301.

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... ... Petitioner/s

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Versus

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The Authorized Officer, Union Bank of India, Danapur Cant Road, near Saguna More, Danapur, Hathikhana, Patna.

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The Union Bank of India, through the Chief Manager, Regional Office, Arrah, District - Bhojpur.

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The Branch Manager, Union Bank of India, Danapur Cant Road, Near Saguna More, Danapur, Hathikhana, Patna.

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... ... Respondent/s

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====================================================== Appearance : For the Petitioner/s : Mr.Amaresh Kumar Sinha, Advocate Mr. Satish Narayan Sinha, Advocate Mr. Vaibhav Narayan, Advocate Mr. Nagadeo Choubey, Advocate For the Respondent/s : Mr. Anant Kumar Sharan, Advocate Mr. Prabhat Kumar Sharan, Advocate Mr. Jayant Kumar Sharan, Advocate Mr. Hemant Kumar Sharan, Advocate ======================================================

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CORAM: HONOURABLE THE CHIEF JUSTICE and

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HONOURABLE MR. JUSTICE S. KUMAR ORAL JUDGMENT (Per: HONOURABLE THE CHIEF JUSTICE)

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Date : 10-03-2022

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Petitioner has prayed for the following relief(s):-

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Patna High Court CWJC No.2390 of 2022 dt.10-03-2022

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2/4

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We are entertaining the present petition in view of the fact that at this point in time, the Debt Recovery Tribunal is not functional on account of non-appointment of Presiding Officer.

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Even though auction was fixed for today, but none came to offer the bid.

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As on 31.01.2022, petitioner was liable to pay a sum of Rs. 1.69 crore (approximately) plus incidental expenses.

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Learned counsel for the petitioner states that vide

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Patna High Court CWJC No.2390 of 2022 dt.10-03-2022 3/4

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cheque dated 18.01.2022, petitioner has already deposited a sum of Rs. 20,00,000/- with the respondent Bank, giving a proposal.

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To show his bona fides , petitioner undertakes to deposit a sum of Rs. 30 lacs within next three working days.

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Taking a holistic view, we dispose of the present petition on the following mutually agreeable terms:-

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(a) Petitioner shall positively deposit a sum of Rs. 30 lacs within next three working days with the respondent Bank;

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(b) Petitioner shall make himself available in the office of Respondent No. 2, namely the Union Bank of India through the Chief Manager, Regional Officer, Arrah, DistrictBhojpur on 22^nd March, 2022 at 10:30 A.M. with a fresh proposal, complete in all aspect, for- (i) re-determining the amount due and payable by the petitioner to the Bank; (ii) seeking waiver of interest on the principal amount due and payable in terms of the policy of the Bank as also the guidelines issued by the Reserve Bank of India;

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(d) Such decision has to be in accordance with law; the guidelines issued by the Reserve Bank of India and maintaining parity;

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Patna High Court CWJC No.2390 of 2022 dt.10-03-2022 4/4

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(e) Till the time proposal is pending with the authorities, no coercive action shall be taken against the petitioner.

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(f) Cheque of Rs. 20,00,000/- deposited by petitioner, shall also be encahsed by the Bank.

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(g) If the petitioner fails to deposit a sum of Rs. 30 lacs, as undertaken by him, or repay the amount in terms of the schedule fixed by the Bank on mutually agreeable terms, it shall be open for the Bank to take recourse to the

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remedies in accordance with law, including sale of mortgaged/hypothecated property.

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Petition stands disposed of in the aforesaid terms. Interlocutory Application(s), if any, stands disposed of.

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(Sanjay Karol, CJ)

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( S. Kumar, J)

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Sujit/Ashwini

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AFR/NAFR
CAV DATE
Uploading Date	11.03.2022
Transmission Date

Sheojee Prasad, v. The Authorized Officer, Union Bank of India

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Sheojee Prasad, v. The Authorized Officer, Union Bank of India

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