Disposed

Surendra Kumar Jaiswal v. The Regional Manager, Syndicate Bank

Patna HC22 Mar 2022CWJC/3877/2022

Case brief

AI extract

What is this about?

The Patna High Court disposed of a writ petition by recording an undertaking from the petitioner to deposit Rs. 1 lakh. The court ordered the bank to consider a proposal for re-determining dues and waiver of interest within eight weeks, pending which no coercive action could be taken.

What did the court decide?

Petitioner undertook to deposit Rs. 1,00,000/-; bank directed to decide on waiver proposal within eight weeks; stay on coercive action.

Surendra Kumar Jaiswal Vs The Regional Manager, Syndicate… — Banking and Recovery | Patna HC (2022)

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IN THE HIGH COURT OF JUDICATURE AT PATNA Civil Writ Jurisdiction Case No.3877 of 2022

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Surendra Kumar Jaiswal Son of Yamuna Prasad Resident of Mohalla- Sahu Colony, Pathan Toli, Damodarpur, Thana Kanti, District- Muzaffarpur.

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... ... Petitioner/s

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Versus

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The Regional Manager, Syndicate Bank Regional Office, IInd Floor, Maurya Tower, Mauryalok Complex, Dak Bangala Road, Patna-1.

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The Authorized Officer, Syndicate Bank (Canara Bank), Bhagwanpur, Pawapuri House, N.H. 28, Muzaffarpur- 842001.

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The Branch Manager, Syndicate Bank (Canara Bank), Bhagwanpur, Pawapuri House, N.H. 28, Muzaffarpur.

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... ... Respondent/s

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====================================================== Appearance : For the Petitioner/s : Mr. Manoj Kumar, Advocate For the Respondent/s : Mr. Jitendra Kumar, Advocate ====================================================== CORAM: HONOURABLE THE CHIEF JUSTICE and HONOURABLE MR. JUSTICE S. KUMAR ORAL JUDGMENT (Per: HONOURABLE THE CHIEF JUSTICE) Date : 22-03-2022

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Heard learned counsel for the parties.

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Petitioner has prayed for following relief:-

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Patna High Court CWJC No.3877 of 2022 dt.22-03-2022 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.

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Learned counsel for the petitioner states that petitioner is ready and willing to settle the matter with the Bank. To show his bona fides, petitioner undertakes to deposit 1,00,000/- (Rupees one lac only) within a period₹ of two weeks from today.

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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 ₹ ₹1,00,000/- (Rupees one lac only) with the respondent Bank within a period of two weeks;

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(b) Petitioner shall make himself available in the office of the Respondent No. 3, namely, the The Branch Manager, Syndicate Bank (Canara Bank), Bhagwanpur, Pawapuri House, N.H. 28, Muzaffarpur on 06.04.2022 at

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Patna High Court CWJC No.3877 of 2022 dt.22-03-2022 3/4

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10:30 A.M. with a 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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(e) Till the time proposal is pending with the authorities, no coercive action shall be taken against the petitioner.

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(f) If the petitioner fails to deposit a sum of ₹1,00,000/- (Rupees one lac only), 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 remedies in accordance with law, including sale of mortgaged/hypothecated property.

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Patna High Court CWJC No.3877 of 2022 dt.22-03-2022 4/4

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Petition stands disposed of in the aforesaid terms.

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Interlocutory Application(s), if any, stands

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disposed of.

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(Sanjay Karol, CJ)

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( S. Kumar, J)

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Sanjay/-Ranjan

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AFR/NAFR	NAFR
CAV DATE	NA
Uploading Date	23.03.2022
Transmission Date	NA

Surendra Kumar Jaiswal v. The Regional Manager, Syndicate Bank

Case brief

What is this about?

What did the court decide?

Surendra Kumar Jaiswal v. The Regional Manager, Syndicate Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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