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High CourtsSingle Bench(2021) 10 UK CK 0183

M/s Sarthak Medicos And Another vs Bank Of India And Another

Uttarakhand High Court · Decided on 27 October 2021

HON’BLE JUDGES
Manoj Kumar Tiwari, J
RESULT
Disposed Of
CASE NUMBER
Writ Petition (M/S) No. 2089 Of 2021
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Judgment

4 paragraphs · 160 words

Manoj Kumar Tiwari, J

1.

Petitioners have defaulted in repayment of loan amount, therefore, Bank of India, Branch Raipur, Bhagwanpur, District Dehradun has initiated coercive action for recovery of the outstanding loan amount.

2.

Learned counsel for the petitioners apprised the Court that the total outstanding loan amount as on 18.03.2021 was Rs. 12,16,854.80/-. He further submits that the petitioners are ready and willing to repay the loan amount, however, they need some reasonable time for arranging necessary funds.

3.

In view of the willingness shown by the petitioners to repay the loan amount, the writ petition is disposed of with the liberty to the petitioners to make fresh representation before the Competent Authority in the concerned Bank. If petitioners make such representation within two weeks alongwith upfront deposit of Rs. 1,00,000/-, the Competent Authority in the concerned Bank shall look into the petitioners' request and take appropriate decision, in accordance with law, within a period of four weeks thereafter.