B.R Battery Sandhu Complex v. State of U.P. and 3 Others

Court No. - 3 Case :- WRIT - C No. - 40501 of 2023 Petitioner :- B.R Battery Sandhu Complex Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Manoj Pathak,Raj Mohan Yadav Counsel for Respondent :- C.S.C,Krishna Kant Tiwari Hon'ble Siddhartha Varma,J. Hon'ble Shekhar B. Saraf,J.

¶1Heard learned counsel for the petitioner, learned Standing Counsel and Sri Krishna Kant Tiwari, learned counsel appearing for the respondent-Bank.

¶2It is stated that the petitioner had taken loan but the same could not be repaid as per the terms of the agreement. A recovery certificate for a sum of Rs.19,50,000/- and other expenses had been issued against the petitioner. This writ petition has been filed with the averment that petitioner is ready and willing to deposit the amount, in case he is permitted to do so in easy instalments. It is also submitted that the petitioner has already deposited Rs.7,00,000/- after the recovery certificate was issued.

¶3Learned counsel for the Bank states that the Bank is ready to accept the amount as the auction could not be done on the date fixed as nobody applied for the same.

¶4Having regard to the fact that the petitioner has offered to pay the entire amount due against him and the Bank has agreed to accept the amount, in our view, ends of justice require that the petitioner be granted an opportunity to deposit the entire outstanding amount due against him in the following manner:-

(i) Petitioner shall deposit 10% of the amount sought to be recovered within a period of three weeks from today with the respondent Bank.

(ii) In case the amount, as indicated above, is deposited by the period prescribed, the respondent Bank shall provide a fresh schedule for re-payment of balance amount, after adjusting the amount already deposited. That amount shall thereafter be deposited in four equal instalments in a period of six months. Statement of account shall also be furnished to the petitioner.

(iii) No recovery charges shall be recovered from the petitioner by the respondent authorities.

(iv) Till the period prescribed for depositing the aforesaid amount and thereafter during the period of deposit of instalments, the recovery proceedings will be kept in abeyance. In case the petitioner defaults in depositing the initial amount or thereafter instalments within the stipulated period, it will be open for the respondents to start recovery proceedings against the petitioner.

¶5With the aforesaid observations/directions, the writ petition stands disposed of. No order as to costs. Order Date :- 2.12.2023 vkj (Shekhar B. Saraf, J.) (Siddhartha Varma, J.) High Court of Judicature at Allahabad