Court No. - 7
Case :- WRIT - C No. - 38557 of 2018 Petitioner :- Shanker Dayal Respondent :- State Of U P And 03 Others Counsel for Petitioner :- Pankaj Mishra Counsel for Respondent :- C.S.C.,Rohit Yadav
Hon'ble Saumitra Dayal Singh,J.
1. Heard Sri Pankaj Mishra, learned counsel for the petitioner and Sri Rohit Yadav, learned counsel for the respondent-bank.
2. 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.
3. By this writ petition, the petitioner has prayed for quashing impugned recovery certificate dated 28.09.2018 for Rs. 8,39,126/- plus other charges.
4. The petitioner had taken a loan of Rs. 2,50,000/- for purchasing a tractor in the year 2003. It is admitted to the petitioner that a default has been committed by the petitioner in making timely repayments of that loan. Consequently, recovery proceedings have been initiated against him.
5. Learned counsel for the petitioner submits that the petitioner is ready to deposit the entire recovery amount within the time fixed by this Court.
6. Learned counsel appearing for the bank fairly 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.
7. On the facts and circumstances of the case and in the interest of justice, the writ petition is disposed of with the following directions:
(i) The petitioner shall deposit the entire amount due to the bank in eight installments beginning from 31.12.2018.
(ii) By way of second installment the petitioner shall deposit Rs. 1,00,000/- on or before 31.01.2019. Thereafter the rest of the amount may be deposited by six equal quaterly installments beginning from 30th April, 2019. The attachment of the mortgage property shall continue but the property may not be sold so long as the petitioner continues to comply with this order.
(iii) On depositing the aforesaid amount of Rs. 2,00,000/- the respondent bank shall provide a statement of account to the petitioner within two weeks thereafter disclosing the exact amount disbursed by the bank as loan; exact amount/s repaid by the petitioner together with dates of deposit; rate of interest and amount/s of interest charged by the bank. Such statement be expressed in such terms/language as may be easy to comprehend even by a lay-man such as the petitioner.
(iv) The bank shall in the statement so supplied, itself calculate & indicate the amount/s of each remaining installment together with the date of payments due.
(v) Thus, the balance amount so indicated by the bank shall be deposited by the petitioner through the remaining six equal quarterly installments.
(vi) If the entire amount is deposited by the petitioner as directed above, no recovery charge shall be realized from the petitioner as admittedly, he is a farmer in default.
(vii) In case of default of the conditions as mentioned above, the present order shall stand automatically vacated and recovery proceedings shall revive from that stage.
8. The writ petition is disposed of in the above terms.
Order Date :- 27.11.2018 S.Chaurasia