Court No. - 21
Case :- WRIT - C No. - 7891 of 2018 Petitioner :- Radha Mishra Respondent :- State Bank Of India, Kanpur Counsel for Petitioner :- Arif Ikbal Counsel for Respondent :- Satish Chaturvedi
Hon'ble Krishna Murari,J. Hon'ble Ajay Bhanot,J.
Heard learned counsel for the petitioner and learned counsel for the respondent-bank.
Petitioner has approached this Court challenging the impugned notice dated 22.01.2018 for auction sale of the mortgaged property in realization of the outstanding dues of the bank.
Learned counsel for the petitioner states that without entering into the dispute, petitioner is ready and willing to liquidate the entire outstanding, provided she is permitted to do so in instalments on account of stringent financial situation. Learned counsel for the respondent- bank has no serious objection to the prayer being granted.
Before proceeding to consider the prayer for granting instalments, the petitioner is under obligation to establish her bona fide that not only she is ready but also in a position to clear off the entire dues.
Smt. Archana Singh, learned counsel for the respondent-bank on the basis of instruction states that auction scheduled for today has not been held and has been postponed for future date.
Learned counsel for the petitioner fairly states that she shall deposit a sum of Rs.2 Lakhs with the respondent-bank within one week.
In case, the petitioner deposits the aforesaid amount with the respondent bank within one week, further recovery proceedings against the petitioner shall be kept in abeyance with liberty to the petitioner to deposit the demanded amount along with up to date interest accrued in four equal instalments. The first instalment be paid by 20th April, 2018, second instalment by 20th August, 2018, third instalment by 20th December, 2018 and the last instalment by 20th April, 2019. After deposit of third instalment, the bank shall issue a calculation chart showing the outstanding interest which might have accrued till the date of depositing last instalment and the same shall be deposited by the petitioner along with the last instalment.
Any amount deposited by the petitioner after issuance of the recovery certificate shall be adjusted. In case, the petitioner deposits the entire demanded amount as directed aforesaid, the recovery proceeding shall be dropped.
It is made clear that in case of default in payment of any of the instalments as directed aforesaid or the averment that this is the first writ petition is false, this order shall lose its efficacy and the respondents will be at liberty to realize the entire amount in accordance with law.
With the aforesaid directions, the writ petition is disposed of.
Order Date :- 28.2.2018 Ashish Tripathi