Court No. - 21
Case :- WRIT - C No. - 7580 of 2018 Petitioner :- Suman Singh Respondent :- Bank Of Baroda Through Its Regional Manager Jaunpur And Another Counsel for Petitioner :- Praneet Kumar Srivastava Counsel for Respondent :- Anadi Krishna Narayana
Hon'ble Krishna Murari,J. Hon'ble Ajay Bhanot,J.
Heard learned counsel for the petitioner and Sri Sandeep Singh, learned counsel for the respondent-bank.
Petitioner has approached this Court challenging the impugned notice dated 25.01.2018 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 he is provided to do so in instalment 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 instalment, the petitioner is an under obligation to establish his bona fide that not only he is ready but also in a position to clear off the entire dues.
Learned counsel for the petitioner fairly states that he shall deposit a sum of Rs.5 Lakhs with the respondent-bank on or before the auction which is scheduled for tomorrow.
In case, the petitioner deposits the aforesaid amount with the respondent bank by tomorrow, the same shall be postponed and the petitioner will thereafter deposit the balance outstanding dues along with up-to-date interest in two equal monthly installments. The first instalment be paid by 31st March, 2018 and the second instalment by 30th April, 2018. Any amount deposited by the petitioner after issuance of the recovery proceedings 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 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.
With the aforesaid directions, the writ petition is disposed of.
Order Date :- 27.2.2018 Ashish Tripathi