Heard learned counsel for the petitioner, learned Standing Counsel on behalf respondent Nos.1 and 2 and Sri Lalit Shukla, learned counsel for respondent No.3.
By means of the present writ petition, the petitioner is challenging the impugned recovery certificate dated 18.7.2019 issued by the respondent No.2 (Annexure-1 to the writ petition).
Brief fact of the case is that the petitioner applied for the grant of loan of Rs.3,00,000/- before the opposite party No.3-Bank in the year 2010 for purchasing a tractor. He also applied for the grant of Kisan Credit Card limit of Rs.85,000/- before the opposite party No.3 for agricultural purpose.
Learned counsel for the petitioner submits that due to some unavoidable circumstances, the petitioner could not deposit the installments in the year 2017-18.
Submission of learned counsel for the petitioner is that the petitioner is ready to deposit the aforesaid amount on easy installments fixed by this Court.
Learned counsel for the respondent-Bank submits that the Bank is interested in realisation of the amount and in case petitioner deposits the entire amount along with up to date interest within the time fixed by this Court, the Bank has no objection.
Considering the aforesaid, the writ petition is disposed of with the following directions:-
(i) The respondent-Bank is directed to provide latest statement of account to the petitioner within a week from today.
(ii) The petitioner shall deposit the entire outstanding dues along with up-to-date interest in six quarterly installments. The first installment of Rs.50,000/- shall be paid on or before 28.09.2019.
(iii) The petitioner shall deposit the amount with respondent-Bank and no recovery charges shall be realised from the petitioner.
(iv) Subject to payment as directed above, no coercive action shall be taken against the petitioner in pursuance of the impugned citation. In the event, the petitioner commits any default in payment of the amount as directed above, the recovery proceedings shall stand revived and the Bank shall be at liberty to proceed against the petitioner in accordance with law.
Order Date :- 29.8.2019 Gautam