Court No. - 21
Case :- WRIT - C No. - 10797 of 2018 Petitioner :- Dileep Kumar Verma Respondent :- State Of U.P. And Another Counsel for Petitioner :- Sanjay Kumar Srivastav Counsel for Respondent :- C.S.C.,Rajneesh Kumar Srivastava
Hon'ble Krishna Murari,J. Hon'ble Ajay Bhanot,J.
Petitioner availed the facility of housing loan from the respondent bank in the year 2014. It is alleged that the regular instalments were being paid till August, 2017 but when the petitioner fell seriously ill there was a default which has resulted in proceeding initiated by the bank under the SARFAESI Act for recovery of the outstanding dues.
Learned counsel for the petitioner states that instead of contesting on merits, he is ready and willing to deposit the entire outstanding but looking to the stringent financial condition and heavy amount, he may be permitted to deposit the same in four instalments.
Sri Rajneesh Kumar Srivastava, learned counsel, who has accepted notice on behalf of respondent bank, has no serious objection.
After considering the submission and perusing the records, the writ petition is disposed of with the direction that further recovery proceedings against the petitioner shall be kept in abeyance with liberty to the petitioner to deposit the demanded amount along with up to date interest accrued in four equal instalments. The first instalment be paid by 30th April, 2018, second instalment by 31st August, 2018, third instalment by 31st December, 2018 and the last instalment by 30th April, 2019. After deposit of third instalment, the bank shall issue a calculation chart showing the outstanding interest which the petitioner shall be under liability to pay till the date of depositing last instalment and the same shall be deposited by the petitioner along with the last instalment. Any amount deposited by the petitioner after issuance of the recovery certificate shall be adjusted. In case, the petitioner deposits the entire demanded amount as directed aforesaid, demand of recovery charges shall stand waived and the recovery proceedings shall be dropped.
It is made clear that in case of default in payment of any of the instalments as directed aforesaid or the averment that this is the first writ petition is false, this order shall stand automatically vacated and the respondents will be at liberty to realize the entire amount in accordance with law.
Order Date :- 28.3.2018 Pramod