Court No. - 7
Case :- WRIT - C No. - 38681 of 2018 Petitioner :- Jayvir And Another Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Satendra Kumar Sharma Counsel for Respondent :- C.S.C.,Krishna Mohan Asthana
Hon'ble Saumitra Dayal Singh,J.
1. Heard learned counsel for the petitioner and Sri Y.K. Narayan, holding brief of Sri Krishna Mohan Asthana, learned counsel for the respondent no. 3.
2. With the consent of learned counsel for the parties, this writ petition is being finally disposed of at this stage without calling for a counter affidavit.
3. By this writ petition, the petitioner has prayed for quashing impugned recovery certificate dated 05.07.2018 for Rs. 6,22,195/- plus other charges.
4. The petitioners had taken a loan of Rs. 08,39,105/- for agricultural purpose in the year 2016. It is admitted to the petitioners that a default has been committed by them in making timely repayments of that loan. Consequently, recovery proceedings have been initiated against them.
5. Learned counsel for the petitioner states that subsequent to the issuance of the recovery certificate, the petitioners had made deposit of Rs. 1,75,000/- with the bank. Even if that submission be accepted as correct, it cannot be disputed that the sum of about Rs. 4,50,000/- may be due.
6. Learned counsel for the petitioner further submits that the petitioners are ready to deposit the entire recovery amount within the time fixed by this Court.
7. Learned counsel appearing for the bank fairly states that the bank is interested in realizing the entire amount along with interest. If the petitioners deposit the amount within the time allowed by this Court, no further action shall be taken against the petitioners by the bank.
8. On the facts and circumstances of the case and in the interest of justice, the writ petition is disposed of with the following directions:
(i) The petitioners shall deposit the entire amount due to the bank in six equal quarterly instalments beginning from 31.12.2018.
(ii) By way of first instalment, the petitioners shall deposit Rs. 75,000/- on or before the date 31.12.2018.
(iii) On depositing the aforesaid amount of Rs. 75,000/- the respondent bank shall provide a statement of account to the petitioners within two weeks thereafter disclosing the exact amount disbursed by the bank as loan; exact amount/s repaid by the petitioners together with dates of deposit; rate of interest and amount/s of interest charged by the bank. Such statement be expressed in such terms/language as may be easy to comprehend even by a lay-man such as the petitioners.
(iv) The bank shall in the statement so supplied, itself calculate & indicate the amount/s of each instalment together with the date of payments due.
(v) Thus, the balance amount so indicated by the bank shall be deposited by the petitioners through the remaining five equal quarterly instalments from 31.03.2019 onwards.
(vi) If the entire amount is deposited by the petitioners as directed above, no recovery charge shall be realized from the petitioners as admittedly, they are farmer in default.
(vii) In case of default of the conditions as mentioned above, the present order shall stand automatically vacated and recovery proceedings shall revive from that stage.
Order Date :- 27.11.2018 Prakhar