Allahabad High Court
M/S Shambhavi Infra A Proprietorship ... vs Indian Bank Meerut Garh Road Branch And ... on 25 May, 2022
Bench: Surya Prakash Kesarwani, Jayant Banerji
HIGH COURT OF JUDICATURE AT ALLAHABAD ?Court No. - 3 Case :- WRIT - C No. - 7515 of 2022 Petitioner :- M/S Shambhavi Infra A Proprietorship Firm Respondent :- Indian Bank Meerut Garh Road Branch And Another Counsel for Petitioner :- Raj Kumar Pandey Counsel for Respondent :- Amrish Sahai Hon'ble Surya Prakash Kesarwani,J.
Hon'ble Jayant Banerji,J.
Heard Shri Raj Kumar Pandey, learned counsel for the petitioner, the learned Standing Counsel for the State-respondent and Shri Amrish Sahai, learned counsel for the respondent/bank.
This writ petition has been filed praying for the following reliefs :-
"i). Issue a writ order or direction in the nature of certiorari quashing the impugned possession notice dated 03/12/2021 issued by respondent no.2 (Annexure no.1 to the writ petition).
ii). Issue a writ order or direction in the nature of mandamus commanding the respondent bank to accept actual out standing amount from the petitioner in quarterly installment of one year."
Learned counsel for the petitioner submits that the petitioner is ready and willing to deposit the entire amount due against him / her in easy installments and, therefore, the impugned notice may kindly be quashed.
Learned counsel for the respondent - Bank states, on instructions, that in the event the petitioner deposits a sum of Rs.8,00,000/- within a month towards dues, then the bank shall provide facility of payment of dues in four monthly installments.
In view of the statement made by learned counsels for the parties as aforenoted and with their consent, this writ petition is disposed of with the following directions :-
i). Initially, the petitioner shall deposit with the respondent-Bank a sum of Rs.8,00,000/- within one month from today.
ii). On deposit of the aforesaid initial amount, the respondent-Bank shall fix the installment of remaining dues including interest, payable in four monthly installments in terms of the statement of the learned counsel for the respondent-Bank.
iii). In the event the petitioner deposits with the respondent-Bank the initial amount of Rs.8,00,000/- as aforesaid and continues to deposit quarterly installments, no coercive action shall be taken by the respondent-bank.
iv). On deposit by the petitioner with the respondent-Bank, the entire due amount including interest as aforesaid, the respondent-Bank shall issue a "no dues certificate" to the petitioner.
v). In the event the petitioner fails to deposit with the respondent-Bank either the initial amount of Rs.8,00,000/- or any of the installments as aforesaid, then the respondent-Bank shall be free to take all actions to recover the dues from the petitioner in accordance with law.
(vi). Any amount deposited by the petitioner towards his loan liability which has not been adjusted before or after taking action for recovery, shall also be adjusted while fixing installments.
Order Date :- 25.5.2022 SK