Allahabad High Court
Ashok Kumar Soni vs State Of U.P. And 2 Others on 1 November, 2019
Bench: Pankaj Mithal, Vivek Agarwal
HIGH COURT OF JUDICATURE AT ALLAHABAD ?Court No. - 29 Case :- WRIT - C No. - 34973 of 2019 Petitioner :- Ashok Kumar Soni Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Priyanka Devi Counsel for Respondent :- C.S.C.,Pashupati Nath Tripathi Hon'ble Pankaj Mithal,J.
Hon'ble Vivek Agarwal,J.
There is a demand of Rs. 17,19,370/- vide notice dated 17.6.2019 issued under section 13(2) of the Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 (in short 'the Act') has been issued against the petitioner.
Counsel for the petitioner submits that the petitioner is ready and willing to pay the entire amount within a reasonable time as may be fixed by the Court.
Sri P.N. Tripathi, learned Counsel for Allahabad Bank is also ready and willing to accept the amount to be deposited by the petitioner within the time as fixed by the Court.
In view of the aforesaid facts and circumstance, we dispose off the writ petition with the direction to the petitioner to deposit a sum of Rs. 5,19,370/- by the end of November, 2019 and balance amount of Rs. 12 lakhs may be deposited in six equal installments of Rs. 2 lakhs each payable in the month of December, 2019, January, February, March, April and May, 2020.
The last installment shall include all interest that may have accrued on the aforesaid amount in the meantime.
In the event of default in making payment of any of the installments, the benefit of this order would come to an end automatically.
The writ petition is disposed off.
Order Date :- 1.11.2019 S.K.S.