Court No. - 18
Case :- WRIT - C No. - 34804 of 2018 Petitioner :- Pradeep Dulvani And 2 Others Respondent :- State Of U P And 3 Others Counsel for Petitioner :- Irshad Husain Counsel for Respondent :- C.S.C.,Krishna Mohan Asthana
Hon'ble Mahesh Chandra Tripathi,J.
Heard learned counsel for the petitioner, Sri K.M. Asthana, learned counsel appearing for respondent No. 4 and learned Standing Counsel for respondent Nos. 1, 2 and 3.
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.
By this writ petition, the petitioners have prayed for quashing impugned recovery certificate dated 17.8.2018 for Rs.32,25,874/- plus other charges.
The petitioners had taken loan of Rs.5,00,000/- from the respondent bank in the year 2015. Due to default being committed by the petitioner, recovery has been initiated.
Learned counsel for the petitioners submits that the petitioner is ready to deposit the entire amount within the time fixed by this Court.
Learned counsel appearing for the bank states that the bank is interested in realizing the entire amount alongwith interest. If the petitioner deposits the amount within the time allowed by this Court, no further action shall be taken against the petitioner by the bank.
On the facts and circumstances of the case and in the interest of justice, I dispose of this writ petition with the following directions:
1) The petitioners shall deposit an amount of Rs.5,00,000/- within two months from today. On depositing the aforesaid amount, the bank shall provide a statement of account within two weeks from the date of deposit after adjusting the amount, if any, already deposited by the petitioners. The outstanding amount shall be deposited by the petitioners in six quarterly installments.
2) First installment be paid on or before 12.3.2019 and thereafter within every three months. The amount shall be deposited by the petitioners in the bank. If the entire amount is deposited by the petitioners as directed above, no recovery charge shall be realized from the petitioners. In case of default in any of the conditions as mentioned above, the present order shall stand automatically vacated and recovery proceedings shall revive.
Order Date :- 12.10.2018 RKP