M/S Jan Jyoti Foods and 2 Others v. State of U.P. and 3 Others

Court No. - 3 Case :- WRIT - C No. - 40996 of 2023 Petitioner :- M/S Jan Jyoti Foods And 2 Others Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Sanjay Pathak,Jaki Ahmad Counsel for Respondent :- C.S.C.,Satish Chaturvedi Hon'ble Siddhartha Varma,J. Hon'ble Shekhar B. Saraf,J.

¶1Heard learned counsel for the petitioners, learned Standing Counsel and Sri P.K. Srivastava, learned counsel appearing for the Bank.

¶2This writ petition has been filed by the petitioners against the notice dated 31.10.2023 issued under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as SARFAESI Act).

¶3Ideally, the petitioner ought to have replied to the notice. However, learned counsel for the Bank has stated that if the petitioner is ready and willing to pay of the outstanding dues then the Bank is ready to accept the same. He further submits that if the petitioner deposits Rs.17,00,000/-, which is overdue amount, within three weeks from today then the loan account of the petitioner would be regularised.

¶4Under such circumstances, we direct that the petitioners will deposit Rs.17,00,000/- within three weeks from today. Thereafter the Bank may consider and regularise the loan account of the petitioners.

¶5With these directions/observations, the writ petition is disposed of. Order Date :- 11.12.2023 Rakesh (Shekhar B. Saraf, J.) (Siddhartha Varma, J.) High Court of Judicature at Allahabad