Harish Chandra vs State of Uttarakhand & others

The petitioner had taken a loan from respondent No. 3 - Uttarakhand Kshetriya Gramin Bank, Branch Bageshwar, District Bageshwar, which the petitioner admittedly could not repay in time. Consequently, the respondents have initiated recovery proceedings against the petitioner. The respondent No. 2 has issued a recovery citation dated 01.02.2017 for a sum of Rs. 2,53,039/- (Rupees Two Lakh Fifty Three Thousand and Thirty Nine Only) against the petitioner.

Before arguing the case on merit, learned counsel for the petitioner submits that the petitioner is ready to deposit the entire amount of loan, but in easy installments.

Learned counsel for the respondent/Bank has no objection if the writ petition is disposed of with the direction to the petitioner to deposit the amount in easy installments.

In view of the above fact, the writ petition stands disposed with a direction that if the petitioner deposits an amount of Rs. 25,000/- (Rupees Twenty Five Thousand Only) with respondent No. 3 on or before 05.05.2017, the remaining amount shall be recovered from the petitioner in 18 (eighteen) equal monthly installments, details of which shall be given to the petitioner by respondent/Bank well in advance.

It is made clear that the last installment shall also carry the cumulative interest. It is, however, made clear that in the event of default of any single payment of installment, the bank shall be at liberty to initiate fresh process of recovery against the petitioner, accordance with law. It is further made clear that no recovery charges shall be taken from the petitioner.