Court No. - 39
Case :- WRIT - C No. - 15174 of 2021 Petitioner :- M/S Pandey Gitti Morang Respondent :- State Of U. P. And Others Counsel for Petitioner :- Tripathi B.G. Bhai Counsel for Respondent :- Satish Chaturvedi
Hon'ble Mrs. Sunita Agarwal,J. Hon'ble Mrs. Sadhna Rani (Thakur),J.
Sri Satish Chaturvedi learned Advocate has appeared for the respondent- Bank.
The petitioner herein is running a business of Gitti, sand and other building materials. It had taken a Cash Credit loan (C.C.) in the year 2010. On account of the adverse economic situation which arose due to onset of pandemic COVID-19, the business of the petitioner had been severely affected, as a result of which, the petitioner could not deposit instalments in time. A recovery notice dated 07.04.2021 has been issued by the respondent-Bank for the realisation of Rs.7 lakhs and odd with interest, which is subject matter of challenge in the present petition.
Only submission of the learned counsel for the petitioner is that the petitioner herein is ready and willing to repay the loan amount in easy instalments.
Considering the above, the writ petition is being disposed of with the following directions:
The recovery proceedings shall remain in abeyance provided;
(1) The petitioner pays the entire assessed amount with upto date interest in the following manner:-
a. 1/4 of the total due amount shall be paid within a period of two months from today.
b. The remaining amount shall be paid in three quarterly instalments.
(2) Upon deposit of the 1/4 of the total dues, the bank shall provide statement of account to the petitioner of the dues upto date.
(3) Amount already deposited towards the demand in question, if any, shall be adjusted.
(4) The petitioner shall make deposit of the last instalment along with up-to-date interest.
(5) In the event of default in any of the above instalments, it would be open to the respondent to proceed with the recovery.
(6) As only the citation has yet been issued and the recovery has not been proceeded with, it is, therefore, directed that, in case, the petitioner makes deposit as per the schedule above, no recovery charges shall be realised from him Order Date :- 27.7.2021 P Kesari Digitally signed by Justice Sunita Agarwal Date: 2021.07.30 13:33:32 IST Reason: Document Owner Location: High Court of Judicature at Allahabad Digitally signed by Sadhna Rani Thakur Date: 2021.07.30 13:33:52 IST Reason: Document Owner Location: High Court of Judicature at Allahabad