Hemant Singh Sanga vs District Magistrate, Nainital & Another

Manoj Kumar Tiwari, J

Petitioner took a housing loan in the year 2016 amounting to Rs. 22,00,000/- from Kurmanchal Nagar Sahkari Bank Ltd., Branch Bhowali, District Nainital. Since he defaulted in repayment of the loan, therefore, respondent-Bank has initiated proceedings against him for recovery of the outstanding amount. Thus, feeling aggrieved, petitioner has approached this Court.

Learned counsel for the petitioner submits that petitioner is ready and willing to liquidate the loan, however, all he needs is some reasonable time so that petitioner may arrange funds.

Learned counsel for the respondent-Bank submits that total outstanding as on 16.12.2021 is more than Rs. 23,00,000/-. He, however, assures the Court that if petitioner makes a representation for re-payment of loan in installments, the same shall be considered by the Competent Authority, provided petitioner deposits some upfront amount to show his bonafide.

Accordingly, the writ petition is disposed of with liberty to petitioner to make representation to Competent Authority in the respondent-Bank. If petitioner makes such representation within two weeks from today alongwith upfront deposit of Rs. 2,00,000/- to show his bonafide, then the Competent Authority in the Bank shall consider petitioner's request and take appropriate decision, in accordance with law, within two weeks from the date of receipt of representation alongwith certified copy of this order.

For a period of four weeks from today or till decision on petitioner's representation, whichever is earlier, no coercive action shall be taken against the petitioner.

Let a certified copy of this order be issued within 24 hours.