Rajasthan High Court - Jaipur
Kishan Lal Meena S/O Shri Savalya Meena vs The State Bank Of India on 20 December, 2019
Author: Ashok Kumar Gaur
Bench: Ashok Kumar Gaur
HIGH COURT OF JUDICATURE FOR RAJASTHAN
BENCH AT JAIPUR
S.B. Civil Writ Petition No. 21899/2019
Kishan Lal Meena S/o Shri Savalya Meena
----Petitioner
Versus
The State Bank Of India
----Respondent
For Petitioner(s) : Mr.Anshuman Saxena For Respondent(s) :
HON'BLE MR. JUSTICE ASHOK KUMAR GAUR Order 20/12/2019 Learned counsel for the petitioner places reliance on the judgment of the Division Bench at Principal Seat, Jodhpur dated 10th February, 2014 passed in DB Civil Writ Petition No.3871/2001 (Smt. Harwinder Kaur Vs. The State Bank of Inida & Ors.).
On the strength of said judgment, learned counsel submits that in respect of the agriculture loan and the loan taken for agricultural appliances, compound interest cannot be charged by the Bank.
Learned counsel submitted that the petitioner had taken loan of Rs.5 lacs for purchase of tractor and out of Rs.5 lacs, he had already paid Rs.3.35 lacs and now by the impugned auction notice, the respondent Bank intends to put the agriculture land of the petitioner for auction and they want recovery of Rs.14.14 lacs along with interest.
Issue notice of the writ petition as well as stay application, returnable on 3rd February, 2020.
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(2 of 2) [CW-21899/2019] In the meanwhile, if the petitioner deposits Rs.5 lacs within a period of two weeks, the auction, scheduled in respect of the agriculture land of the petitioner, shall not be conducted and the petitioner would not be forced to pay the entire amount during pendency of the present writ petition.
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