Allahabad High Court
Rajpal Singh vs Union Bank Of India on 1 July, 2010
Court No. - 28 Case :- WRIT - C No. - 37419 of 2010 Petitioner :- Rajpal Singh Respondent :- Union Bank Of India Petitioner Counsel :- Jitendra Kumar Sharma Respondent Counsel :- B.N. Singh Hon'ble Rajesh Dayal Khare,J.
Heard learned counsel for the petitioner and Sri B.N.Singh, learned counsel for the respondent-bank.
It is submitted by learned counsel for the petitioner that the petitioner is an agriculturist and had taken agriculture loan of Rs. 5 lacs from the respondent- bank in the year 2007, but due to unavoidable circumstances, the petitioner could not deposit the loan amount and now recovery certificate of Rs. 5,37,297/- plus interest has been issued against the petitioner. Learned counsel for the petitioner has further submitted that the petitioner is ready to pay the entire outstanding loan amount alongwith interest in easy installments.
Sri B.N.Singh, learned counsel for the respondent-bank has no objection to prayer made by learned counsel for the petitioner.
Considering the submissions made by learned counsel for the parties, the present writ petition is finally disposed of with the following directions:-
(i) The petitioner shall pay the entire recovery amount due against him alongwith interest to the respondent-bank in six equal installments. The Ist installment shall be paid by the petitioner on or before Ist of August, 2010.
Subject to the deposit of Ist Installments on or before Ist August, 2010, recovery proceedings against the petitioner shall be kept in abeyance provided,
(ii) The remaining five installments shall be paid over by the petitioner at regular interval of two months each starting from Ist October, 2010 with the respondent bank.
In case of default in payment of any installments, as stated above, then interim protection granted by this Court shall automatically stands vacated and the respondent-bank shall be at liberty to realize the loan amount due against the petitioner as per law.
Order Date :- 1.7.2010 S.Ali