Court No. - 36
Case :- WRIT - C No. - 19909 of 2019 Petitioner :- Ravindra Nath Rai Respondent :- State Of U P And 3 Others Counsel for Petitioner :- Anurag Upadhyay,Rakesh Pathak Counsel for Respondent :- C.S.C.,Sanjai Singh
Hon'ble Ajay Bhanot,J.
Heard Sri Manoj Kumar, learned counsel holding brief of Sri Rakesh Pathak, learned counsel for the petitioner, learned Standing Counsel for the respondent-State and Sri Sanjai Singh, learned counsel for the respondent-Bank.
The petitioner availed the facility of loan from the respondent- bank and admittedly, there was a default. The respondent bank issued a recovery citation of Rs.7,18,179/- against the petitioner.
Sri Manoj Kumar, learned counsel holding brief of Sri Rakesh Pathak, learned counsel for the petitioner submits that he had taken an agricultural loan. The petitioner is a farmer. He could not repay the loan instalment in time. Learned counsel for the petitioner contends that he does not intend to contest the proceedings on merit and he is ready and willing to liquidate the entire outstanding liability provided he is permitted to do so in instalments.
Sri Sanjai Singh, learned counsel for the respondent-Bank does not have any serious objection to the aforesaid submission. He, however, submits that the petitioner should prove his bonafide and ability to pay by depositing some amount within 15 days.
Before proceeding to consider the prayer granting instalment, the petitioner is an under obligation to establish their bona-fide that not only he is ready but also in a position to clear off the entire dues.
In view of the submissions made by learned counsel at the Bar, the recovery proceedings against the petitioner shall remain stayed subject to the following conditions:
1. The petitioner shall deposit a sum of Rs.68,179/- within a period of 15 days from today before the respondent Bank. Rest of the amount shall be deposited in four monthly instalments.
2. The first instalment amounting to Rs.1,60,000/- shall be deposited by the petitioners on 1st August, 2019. Second instalment amounting to Rs.1,60,000/- shall be deposited by the petitioner on 1st November, 2019. Third instalment amount to Rs.1,60,000/- shall be deposited by the petitioner on 1st February, 2020 and the last instalment amounting to Rs.1,70,000/- shall be deposited by the petitioner on 1st May, 2020.
3. Before the last instalment i.e. 1st May, 2020, the respondent Bank shall issue a chart indicating up to date accrued interest payable by the petitioner.
4. The amount of interest, amount thus so provided to the petitioner by the Bank, shall be deposited by the petitioner along with the last instalment of Rs.1,70,000/- on 1st May, 2020.
The recovery proceedings against the petitioner shall remain stayed provided the above mentioned directions are complied with by the petitioner.
It is made it clear that in case violation of above directions or in the event of default in payment of any of the instalments as directed aforesaid this order shall stand automatically vacated and the respondent Bank will be at liberty to initiate recovery proceedings in accordance with law.
It is further provided that in case the entire amount is deposited in the manner aforesaid, the recovery charges against the petitioner shall be dropped.
The writ petition is disposed of finally.
Order Date :- 7.6.2019 Ashish Tripathi