Om Prakash v. State of U.P. Thru. Secy. Cooperative Civil Sectt. Lko and 4 Others

Court No. - 8 Case :- WRIT - C No. - 8914 of 2023 Petitioner :- Om Prakash Respondent :- State Of U.P. Thru. Secy. Cooperative Civil Sectt. Lko And 4 Others Counsel for Petitioner :- Arvind Kumar Gautam,Manoj Kumar Counsel for Respondent :- C.S.C. Hon'ble Pankaj Bhatia,J.

¶1Heard learned counsel for the petitioner and learned counsel appearing for respondent nos.4 & 5.

¶2Present petition has been filed challenging the proposed action of respondent no.4 to recover the outstanding amount of loan from the petitioner by taking recourse to the auction proceedings.

¶3Learned counsel for the respondents, based upon instructions, states that as on

30.09.2023, the amounts outstanding against the petitioner is Rs.5,45,920/-.

¶4Learned counsel for the petitioner, based upon instructions, states that the petitioner is ready and willing to pay the amount if some suitable time is granted, to which the parties have no objection.

¶5In view thereof, the present petition is disposed off directing that in the event, the petitioner pays the outstanding amount in the manner as indicated herein after, no steps for recovery shall be initiated against the petitioner.

¶6The petitioner shall pay an amount of Rs.1,00,000/- on or before 31.12.2023, an amount of Rs.1,00,000/- on or before 31.03.2024, an amount of Rs.1,00,000/- on or before 30.06.2024 and the balance outstanding amount alongwith accrued interest on or before 30.09.2024.

¶7In the event of default, the bank would be entitled to take steps for recovery of the amount in accordance with law and the protection granted by this order shall come to an end.

¶8In case the amounts are paid as directed herein above, no recovery charges shall be levied against the petitioner.

¶9It is directed that the bank shall also provide an updated statements of account to the petitioner within 15 days from today. Order Date :- 17.10.2023 nishant High Court of Judicature at Allahabad, Lucknow Bench