Nirmal Pant vs State Of Uttarakhand & Others

Manoj Kumar Tiwari, J

Heard learned counsel for the parties through video conferencing.

Petitioner took a loan from State Bank of India, Branch Berinag, District Pithoragarh. Since he defaulted in repayment of the loan, therefore,

proceedings for recovery have been initiated against him.

By means of this writ petition, petitioner has challenged the recovery citation issued by Tehsildar for recovery of a sum of Rs. 1,31,469/-+ other

charges.

Learned counsel for the petitioner submits that petitioner is ready and willing to repay the entire outstanding amount; but, he prays that some

reasonable time be given to the petitioner for the purpose.

Mr. Ashish Joshi, learned counsel appearing for respondent no.3 submits that he has no objection if reasonable time is given to the petitioner for

repayment of the amount of loan.

Accordingly, writ petition is disposed of with the following directions:-

I. Petitioner shall deposit a sum of Rs. 40,000/- with the concerned Bank within four weeks from today.

II. The remaining amount shall be deposited by the petitioner in three equal monthly installments to be fixed by the respondent-Bank.

III. Last installment will carry the amount of interest.

IV. Recovery charges shall be waived off, if petitioner directly deposits the outstanding amount with the respondent-Bank.

V. In the event, petitioner fails to deposit Rs. 40,000/- within the stipulated period, then petitioner shall not be entitled to protection of this order and the

respondent-Bank shall be at liberty to proceed for recovery of entire amount from the petitioner, in accordance with law.

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