Court No. - 36
Case :- WRIT - C No. - 25345 of 2018 Petitioner :- Virendra Prasad And Another Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Satyendra Kumar Pandey Counsel for Respondent :- C.S.C.,Krishna Mohan Asthana
Hon'ble Mrs. Sunita Agarwal,J.
Heard learned counsel for the petitioners, learned Standing counsel and Sri K.M.Asthana,learned counsel for the respondent Bank.
The petitioners had taken a loan and was unable to pay the installments on time. Consequently, recovery proceedings have been instituted to recover the balance amount.
There is no illegality in the recovery proceeding but the petitioners contend that they are willing to pay the entire amount in installments.
Learned Standing Counsel as well as counsel for the Bank are agreeable to the prayer made by the petitioners provided they repay the entire dues with interest regularly.
Considering the aforesaid facts, the writ petition is disposed of with the following directions:-
The recovery proceedings shall remain in abeyance provided;
(1) The petitioners pay the entire outstanding amount with upto date interest in six equal installments to be deposited before the revenue authorities.
(2) The first installment of Rs. 50,000/- shall be paid on or before 28th August, 2018.
(3) On deposit of the first installment, the respondent bank would furnish the complete statement of accounts showing all the deposits which have been made by the petitioners till date and the balance amount payable.
(4) Rest of the amount shall be deposited by the petitioners in five quarterly installments.
(5) Any amount already deposited shall be given adjustment.
(6) The petitioners shall make deposit of the last installment along with upto date interest.
(7) In the event of default in any of the installments, it would be open to the respondents to recover the amount forthwith.
(8) As only the citation has yet been issued and the recovery has not been proceeded with, it is, therefore, directed that, in case, the petitioners make deposit as per the schedule above, no recovery charges shall be realised from them.
Order Date :- 27.7.2018 Pratima