Court No. - 47
Case :- WRIT - C No. - 18253 of 2019 Petitioner :- Nanhe Singh Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Banshi Dhar Mishra Counsel for Respondent :- C.S.C.
Hon'ble J.J. Munir,J.
Heard Sri Banshi Dhar Mishra, learned counsel for the petitioner, Sri Pranjal Mehrotra, learned counsel appearing on behalf of respondent no. 2 and Sri Pramod Kumar Dubey, learned counsel appearing on behalf of respondent no. 3.
The petitioner has come up with a proposal that he is willing to pay to deposit of Rs. 73,000/- in favour of the respondent no. 2 within fifteen days of date on condition that his tractor may be released upon the said deposit being made good by the Finance Company. As part of the same offer, learned counsel for the petitioner states that the entire outstanding of the loan, that is the remainder after depositing the sum of Rs. 73,000/- together with interest accrued from time to time, he will repay in six equated quarterly instalments.
Sri Pranjal Mehrotra, learned counsel appearing for the respondent-Finance Company does not have any objection to the said proposal.
Accordingly with the consent of respondent no. 2-Finance Company, the following order is made:
The petitioner shall deposit a sum of Rs. 73,000/- within a period of fifteen days of date with respondent no. 2. Upon the said deposit being made, respondent no. 2 shall accept the same without objection. Immediately upon deposit of the sum of Rs. 73,000/-, the petitioner's tractor shall be handed back to him together with all its documents, if in possession (registration certificate, insurance policy etc.). For the remainder, the Finance Company shall hand over a statement of account worked out on the basis of six equated quarterly instalments that will include the principle and the interest with no other hidden charges in the form of a properly worked out schedule of repayment within the next fifteen days of receiving the initial payment of Rs. 73,000/- to the petitioner.
The petitioner shall deposit the first instalment in accordance with the statements of six instalments determined by the Finance Company on or before 31.08.2019, and remainder of the five instalments on quarterly basis, reckoned from 31.08.2019, that is to say, the second instalment on 30.11.2019, the third instalment on 29.02.2020, the fourth instalment on 31.05.2020, the fifth instalment on 31.08.2020 and the sixth instalment on 30.11.2020.
In the event the entire money outstanding of the loan are paid in terms of the aforesaid schedule of repayment is made good, the entire loan debt shall stand discharged. In the event of default at any stage, the facility to deposit provided by this order shall stand vacated and it shall be open to the Finance Company to take measures to enforce their claim against the petitioner for the balance.
Until the entire loan over dues are paid in the manner indicated or an accelerated basis and a no dues certificate issued by the Finance Company to the petitioner, the petitioner shall not transfer alienate or cause to be dismantled the tractor subject matter of issue bearing Chasis No. KZJST69261353 and Engine No. 3100FL0739685304F18 of Sonalika make.
It is further made clear that it shall be the responsibility of the Finance Company to provide to the petitioner the requisite statement of the six quarterly instalments as directed by this order, positively within fifteen days as indicated above.
Let a copy of this order be issued to Sri Pranjal Mehrotra, learned counsel appearing for the respondent-Finance Company within 48 hours, which he shall communicate to the Company and ensure compliance of this order.
This writ petition stands disposed of in terms of the above orders. There shall be no order as to costs.
Personal appearance of Mohd. Saad, Collection Manager and Ashok Kumar who represent respondent nos. 2 and 3 respectively, is exempted and they are not required to appear.
Order Date :- 30.5.2019 Deepak