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Judgment
14 paragraphs · 250 wordsManoj Kumar Tiwari, J
Father of petitioner no. 1 took a loan for establishing a Rice Mill. Due to financial constraint, the loan could not be repaid in time, therefore, the
Bank has initiated recovery proceedings. In the meantime, father of petitioner no. 1 passed away. By means of this writ petition, petitioner has
challenged the recovery proceedings.
Learned counsel for the petitioners submits that since father of petitioner no. 1 is no more and petitioner no. 1 is a young boy of 20 years, therefore,
he needs sometime for arranging funds so that the loan be repaid. She, therefore, confines her prayer and submits that petitioners may be permitted to
make representation, seeking reasonable time for repayment of the loan, and the Competent Authority in the Bank be directed to take decision
thereupon at the earliest.
Having regard to the eagerness shown by the petitioners to repay the loan, the writ petition is disposed of with liberty to petitioners to make
representation to Competent Authority in the Bank, within one week from today. If such representation is made within stipulated period, the
Competent Authority in the Bank shall consider petitioners’ request and take appropriate decision, in accordance with law, within a period of two
weeks’ from the date of receipt of representation alongwith certified copy of this order.
Till decision is taken on petitioners’ representation, status quo, as of today, shall be maintained.
Let a certified copy of this order be issued today itself.