Court No. - 3
Case :- WRIT - C No. - 28239 of 2021 Petitioner :- Abdul Salim @ Abdullah Saalim Respondent :- State Of U.P. And 5 Others Counsel for Petitioner :- Kamlesh Kumar Singh Counsel for Respondent :- C.S.C.,Krishna Kant Tiwari
Hon'ble Naheed Ara Moonis,J. Hon'ble Saumitra Dayal Singh,J.
Heard learned counsel for the parties.
Petitioner has committed default in repayment of secured debt to the respondent-Bank, as such, the respondent-Bank had sealed the house of the petitioner.
At the outset, petitioner has offered to pay the outstanding amount, towards housing loan, Rs. 83,18,355.30 together with entire interest due, within a period of six months. This offer has been accepted by learned counsel for the respondent bank.
Accordingly, the writ petition is disposed of with the following directions:
(i) The petitioner shall clear the entire arrears due, within a period of six months i.e. not later than 30 April 2022.
(ii) In discharge of dues, the petitioner shall deposit, by way of first installment, a sum of Rs. 15,00,000/- with the respondent - Bank, on or before 30 November 2021.
(iii) Upon deposit of Rs. 15,00,000/- by the petitioner, the respondent - Bank shall immediately communicate to the petitioner the exact amount being claimed from him including interest computation up to 30 April 2022 (on reducing balance).
(iv) Petitioner shall thereafter deposit the remaining amount, in four installments, out of which the three installments will be of Rs. 15,00,000/- each payable on or before 31 December 2021, 31 January 2022, 28 February 2022 and the fourth installment will be of Rs. 23,18,355.30 payable on or before 31 March 2022 respectively.
(v) The amount of interest being claimed by the respondent - Bank may be paid, by way of last instalment, on or before 30 April 2022.
Any amount that may have been deposited by the petitioner, pursuant to the impugned recovery certificate, may be adjusted against the installment of Rs. 23,18,355.30 to be paid in the month of March 2022.
Subject to the continued compliance of the order being made by the petitioner, the property that had already been attached by the bank may be retained in attachment, so however, that neither the possession may be disturbed nor any sale proceedings may arise.
In case of default of any of the conditions as mentioned above, the present order shall stand automatically vacated and recovery proceedings shall revive from that stage.
Order Date :- 28.10.2021 Saurabh