Court No. - 3
Case :- WRIT - C No. - 32267 of 2021 Petitioner :- M/S Surabhi Medical Store Respondent :- State of U.P. and Another Counsel for Petitioner :- Sushil Dubey Counsel for Respondent :- C.S.C.,Krishna Mohan Asthana Hon'ble Manoj Kumar Gupta,J.
Hon'ble Dr. Yogendra Kumar Srivastava,J.
The petitioner being aggrieved by a notice issued by the respondent Bank under Section 13 (4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with Rule 8 (6) of the Security Interest (Enforcement) Rules, 2002, has preferred the instant petition.
Counsel for the petitioner does not dispute the amount mentioned in the impugned notice. He, however, submitted that the petitioner is ready and willing to pay the entire amount alongwith interest in easy instalments, to which Sri Sagar Srivastava holding brief of Sri K.M. Asthana, counsel for the respondent Bank has no objection.
Accordingly, the instant petition is disposed of as follows:-
(a) The petitioner shall deposit 25% of the total amount mentioned in the impugned notice within one month from today before the respondent Bank.
(b) The remaining amount shall be deposited by the petitioner in three equal quarterly instalments alongwith interest.
(c) Any amount deposited by the petitioner for availing the benefit of OTS scheme, which has not materialized, may be adjusted while reckoning compliance of the instant order.
(d) In case of default in making payment, as stipulated above, the instant order shall automatically stand lapsed and it will be open to the respondent Bank to proceed with the recovery in accordance with law.
(Dr. Yogendra Kumar Srivastava,J.) (Manoj Kumar Gupta,J.) Order Date :- 17.12.2021 SL