Disposed

M/S the Bullet Bus v. State Bank of India

Rajasthan HC8 Jul 2019CW/10937/2019

Case brief

AI extract

What is this about?

Petitioners borrowed for a bus which met an accident disrupting installment payments. Their account was classified NPA and a Section 13(2) notice was served. The court directed the bank to furnish account details.

What did the court decide?

Directed respondent Bank to furnish account details including principal and interest within a fortnight; no coercive action against petitioner if terms complied.

M/S the Bullet Bus Vs State Bank of India — Banking and Recovery | Rajasthan HC (2019)

¶1

HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR

¶2

S.B. Civil Writ Petition No. 10937/2019

¶3

M/s The Bullet Bus, A Partnership Firm Through Its Partners Shri Vivek Pal Singh, Son Of Shri Randhir Singh, Chak-5 Lnp, Chak Maharaja Ka Sri Ganganagar-335001. Jaipur Office M.i Road Opp. Hotel Country Inn, Jaipur

¶4

Vivek Pal Singh Son Of Shri Randhir Singh, Partner Of M/s. The Bullet Bus, R/o 7, Bnw, Sadul Shahar, Sri Ganganagar-335062

¶5

----Petitioners Versus

¶6

State Bank Of India, A Body Corporation, Constitute Under The State Bank Of India Act, 1955 (23 Of1955), Head Office At Tilak Marg, C-Scheme, Jaipur- 302005 Through International Banking Branch, Trimurti Circle, Jln Marg, Jaipur Through Its Chief Manager.

¶7

----Respondent

¶8

For Petitioner(s) : Mr. Nirmal Kumar Goyal For Respondent(s) :

¶9

HON'BLE MR. JUSTICE VEERENDRA SINGH SIRADHANA

¶10

Order

¶11

08/07/2019

¶12

Learned counsel contends that he had availed of loan facility to the extent of Rs. 99 Lacs for purchase of a Volvo Bus and executed the required documents, while the petitioner deposited a sum of Rs. 51 Lacs by September, 2018; however, for the Bus that was purchased by the petitioner for the purpose of making his livelihood, met with an accident, and therefore, disruption in the payment of installment which was Rs. 1,67,797/- (Rupees One Lac Sixty Seven Thousand Seven Hundred Ninety Seven Only) per month.

¶13

(2 of 2)

¶14

[CW-10937/2019]

¶15

Learned counsel further submits that while account of petitioner has been classified as NPA and a notice under Section 13(2) of SARFESI Act, has been served; thereafter, no further proceedings have been resorted to by the respondent-Bank. Be that as it may, the petitioner is ready and willing to deposit the entire over due amount on account of principle so also interest accrued thereupon; provided the respondent-Bank furnishing details of the account with the necessary statement, within 15 days.

¶16

In view of the statement made at Bar and considering the willingness of the petitioner to deposit entire dues of amount in view of loan facility involved herein; the respondent-Bank is directed to furnish the details and statement of account involved herein, to the petitioner inclusive of principle as well as interest due, within a fortnight hereinafter.

¶17

In the event, the Bank informed of dues as aforesaid to the petitioner; the petitioner would do the needful to deposit the dues within a month thereafter.

¶18

Needless to observe that in the meanwhile, if terms and conditions as stated hereinabove, are complied with by the petitioner; respondent-Bank shall not resort any coercive action against the petitioner.

¶19

With the directions and observations as indicated above, writ application stands disposed off.

¶20

(VEERENDRA SINGH SIRADHANA),J

¶21

Pooja /129

M/S the Bullet Bus v. State Bank of India

Case brief

What is this about?

What did the court decide?

M/S the Bullet Bus v. State Bank of India

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Ravindra Sharma Son of Shri Ganesh Narain Sharma Vs State of Rajasthan

Shiv Mahavidyalaya Vs the State of Rajasthan

Bholi Devi W/O Shri Bhagirath Mal Raigar Vs State of Rajasthan

Mohammad Shamim S/O Shri Gulab Navi Vs Abdul Majid S/O Shri Bhurre Khan

Bajri Lease Loi Holders Welfare Society Vs State of Rajasthan

Govind Narayan Sharma S/O. Late Shri Panna Lal Sharma Vs Rajasthan State Sports Council