Heard the learned counsel for the petitioner and Shri Vinod Kumar Singh learned counsel appearing for the opposite party no.4 Bank.
By means of instant petition, the petitioner assails the recovery certificate in terms whereof a sum of Rs.1,42,900/= has been shown as outstanding against the petitioner.
The submission of the learned counsel for the petitioner is that a sum of Rs.60,000/- was taken from the opposite party no.4 Bank for agricultural purposes. However, on account of certain unforeseen circumstances, the petitioner could not service the loan as a result the amount has now swelled.
The petitioner submits that he is ready to furnish the aforesaid amount in easy installments and he has also paid a sum of Rs.60,000/= on 12.02.2021. In these circumstances, it has been prayed that the petitioner is willing to clear the entire outstanding provided some time is granted. It has also been informed that the opposite party no.4 Bank has also introduced One Time Settlement Scheme and in case if the petitioner is granted the benefit thereof, he shall be able to clear his dues.
Shri Vinod Kumar Singh, learned counsel for the opposite party no.4 Bank has submitted that a sum of Rs.1,82,682/= has been outstanding against the petitioner. On the basis of instructions, it has further been submitted that the petitioner has deposited a sum of Rs.60,000/= on 12.02.2021 and since the Scheme of One Time Settlement is in operation and is likely to continue till 31st of March, 2021. The petitioner can take the benefit by making an application and complying with the term of the aforesaid Scheme. It has also been informed that by applying for the aforesaid Scheme, the petitioner shall also be entitled to some waiver in the interest.
It has also been informed by Shri Vinod Kumar Singh learned counsel for the Bank that as per the Scheme, three categories have been carved out and apparently the case of the petitioner would fall in the third category since his loan is after the year 2007 and he would be entitled to interest waiver of 35%.
Be that as it may, in the facts and circumstances also in view of the willingness of the petitioner to clear his dues as well as the inclination to apply for that One Time Settlement Scheme, it is provided that the petitioner shall make an application to the Bank for consideration of his case in the One Time Settlement Scheme and if such an application is made, the same shall be considered by the Bank sympathetically to enable the petitioner to clear his dues.
With the aforesaid observations, the petition is disposed of.
Order Date :- 19.2.2021 ank