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Judgment
15 paragraphs · 243 wordsManoj Kumar Tiwari, J
Heard learned counsel for the parties through video conferencing.
Petitioner took a loan from State Bank of India, Branch Mohanpura, Roorkee, District Haridwar. Since he defaulted in re-payment of the loan
amount, therefore, proceedings for recovery of the outstanding amount were initiated against him.
By means of this writ petition, petitioner has challenged the recovery citation dated 30.01.2018, which is on record as Annexure No.3 to the writ
petition.
A Coordinate Bench of this Court vide order dated 11.07.2018 granted protection to the petitioner from recovery proceedings, provided he deposits
a sum of Rs. 4,00,000/- with the bank, within ten days. Subsequently, on 12.03.2019, another Coordinate Bench of this Court passed an order and
provided that if petitioner deposits a sum of Rs. 4,00,000/- in terms of the order dated 11.07.2018, then the interim order granted earlier would continue
to operate.
Petitioner’s counsel is not in a position to inform this Court as to whether petitioner has deposited any amount in terms of the aforesaid order.
Admittedly, petitioner is a borrower, who had taken loan from the bank. He is bound by the terms and conditions of the loan agreement executed
between him and the bank. Therefore, there is no scope for interference with the impugned recovery citation.
In such view of the matter, writ petition fails and is dismissed. No order as to costs.
Interim order dated 11.07.2018 stands vacated.