Court No. - 21
Case :- WRIT - C No. - 7586 of 2018 Petitioner :- Rajesh Singh Respondent :- State Of U.P. Through The Principal Secretary Revenue,Govt Of U.P. And 3 Others Counsel for Petitioner :- Raja Ram Kushwaha Counsel for Respondent :- C.S.C.,Ashish Agrawal
Hon'ble Krishna Murari,J. Hon'ble Ajay Bhanot,J.
Heard learned counsel for the petitioner and Sri Ashish Agrawal, learned counsel for the respondent Bank.
Petitioner has availed the facility of loan for business purpose. Admittedly petitioner defaulted in payment of the instalment and the Bank has issued recovery citation dated 15.01.2018.
Learned counsel for the petitioner states that the petitioner is ready and willing to pay the dues in instalments. Learned counsel appearing for the respondent-bank has no objection.
After considering the submission and perusing the records, the writ petition is disposed of with the direction that further recovery proceeding 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 instalment. The first instalment be paid by 31st March, 2018, second instalment by 31st July, 2018, third instalment by 30th November, 2018 and the last instalment by 31st March, 2019. After deposit of third instalment, the Bank shall issue a calculation chart showing the outstanding interest may accure 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 citation shall be adjusted.
It is made clear that in case of default in payment of any of the instalment 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.
Order Date :- 27.2.2018 Pravin