Court No. - 38
Case :- WRIT - C No. - 11191 of 2018 Petitioner :- Kothiwal Ice And Cold Storage Pvt Ltd Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Anil Kumar Aditya Counsel for Respondent :- C.S.C.,Krishna Mohan Asthana
Hon'ble Ran Vijai Singh,J. Hon'ble Shashi Kant,J.
We have heard Sri Anil Kumar Dhaka, holding brief of Sri Anil Kumar Aditya, learned counsel for the petitioner, learned standing counsel for the State respondents and Sri Krishna Mohan Asthana, learned counsel for the respondent Bank.
By means of this writ petition prayer has been made to issue a writ of certiorari quashing the impugned notice dated 16.2.2018 issued by the respondent Bank under section 13(2) of the Secruritization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Submission of the learned counsel for the petitioner is that because of acute financial crises and under some unavoidable circumstances, the petitioner could not pay the required amount.
Considering the facts and circumstances of the case, with the consent of the learned counsel for the parties the writ petition is disposed of with the observation that in case the petitioner deposits 40% of the amount overdue on the petitioner by 30th April, 2018 no coercive action shall be taken against the petitioner for recovering the remaining amount. However, the remaining amount shall be deposited by the petitioner in six weekly, four equal instalments. The instalments shall be fixed by the Bank immediately after the deposit of 40% of the overdue amount on the petitioner and a copy of the same be provided to the petitioner within ten days from the date of the first deposit. In case of default in paying the instalments the interim order granted today shall stand automatically vacated.
Order Date :- 30.3.2018 samz