Disposed

Rajbala v. Au Small Finance Bank Ltd. and Anr.

Rajasthan HC9 Apr 2018CW/6799/2018

Case brief

AI extract

What is this about?

The High Court directed the petitioner to deposit Rs.1,95,000/- with the respondent-bank within seven days to quash recovery proceedings and obtain a No Objection Certificate for the hypothecated vehicle. The order stands recalled if payment is not made.

What did the court decide?

Direction to deposit Rs.1,95,000/- to quash recovery proceedings and obtain NOC; order recalled on default.

Rajbala Vs Au Small Finance Bank Ltd. and… — Contract and Commercial Disputes | Rajasthan HC (2018)

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HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR

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S.B. Civil Writ Petition No.6799/2018

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Rajbala W/o Late Shri Satish Kumar, Aged About 44 Years, Resident of Village & Post Budania, Thesil Chidava, District Jhunjhunu-333025, Raj. ----Petitioner

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Versus

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AU Small Finance Bank Limited (erstwhile AU Financers (India) Ltd.), Registered Office 19-A, Dhuleshar Garden, Ajmer Road, Jaipur Through Authorised Representative Rajeev Singh Shekhawat, Aged About 36 Years. 2. Vikas S/o Late Shri Satish Kumar, Aged About 22 Years, Resident of Village & Post Budania, Thesil Chidava, District Jhunjhunu Through His Natural Guardian Smt. Rajbala W/o Late Shri Satish Kumar (Mother) ----Respondents

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For Petitioner(s) : Mr.Himanshu Sharma.

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For Respondent(s) : Mr.Pankaj Gupta.

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HON'BLE MR. JUSTICE ALOK SHARMA

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Order

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09/04/2018

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On instructions, Mr.Pankaj Gupta, counsel for the respondent submitted that in the event the petitioner pays a sum of Rs.1,95,000/- towards the outstanding loan amount within seven days from today, all recovery proceedings against him would stand discharged and he issued a no objection certificate qua the hypothecated vehicle.

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Mr.Himanshu Sharma, counsel for the petitioner submitted that the petitioner would make the requisite payment of Rs.1,95,000/- against the outstanding loan amount plus interest to the respondent-bank within seven days from today.

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It is thus directed that the amount of Rs.1,95,000/- as above be deposited with the respondent-bank on or before 16.04.2018.

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(2 of 2)

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[CW-6799/2018]

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This order however would stand recalled and the respondent-bank shall be free to take its remedy in accordance with law if the amount of Rs.1,95,000/- is not deposited as stated by counsel for the petitioner, within seven days from today. On the other hand, if the said amount is deposited the respondent-bank would issue a NOC to the petitioner regarding the hypothecated vehicle standing as collateral with it.

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Petition accordingly disposed of.

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(ALOK SHARMA)J.

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Karan/1

Rajbala v. Au Small Finance Bank Ltd. and Anr.

Case brief

What is this about?

What did the court decide?

Rajbala v. Au Small Finance Bank Ltd. and Anr.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

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