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Satnam Singh vs State of Uttarakhand and others

Uttarakhand High Court · Decided on 13 November 2017 · Citation: (2017) 11 UK CK 0030

HON’BLE JUDGES
Manoj K. Tiwari
RESULT
Disposed
CASE NUMBER
2766 of 2017 (M of S)
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Judgment

13 paragraphs · 349 words
1.

By means of this petition, petitioner has sought following reliefs:

(i) Issue a writ of certiorari to quash the impugned recovery citation dated 16.8.2016 against the petitioner, issued by respondent no.2. (ii) Issue a writ, order or direction in the nature of mandamus directing the respondents to make some easy installments for the recovery of this loan.

2.

Heard learned counsel for the parties and perused the record.

3.

According to the petitioner, petitioner took agricultural loan of Rs. 1,50,000/- on 06.11.2014 and thereafter on 21.03.2017 he took another loan of Rs. 6,50,000/- from Union Bank of India, Branch Khatima, District Udham Singh Nagar/respondent no.3.

4.

Learned counsel for the petitioner submits that due to financial crises, petitioner could not pay the loan installments on time. Consequently, a Recovery Citation has been issued whereby a sum of Rs. 10,13,151/- is sought to be recovered from the petitioner. He further submits that petitioner is ready to repay the outstanding amount of loan in easy installments fixed by this Court.

5.

Ms. Monika Pant, Advocate appearing for the Bank submitted that, in case, petitioner is accommodated to deposit the loan amount in installments, condition may be imposed that any failure on the part of the petitioner, will result in automatic vacation of the order passed by this Court and the bank will be free to recover the loan amount as per law.

6.

Having heard learned counsel for the parties and considering the fact and circumstances of the case, the writ petition is disposed of in the following terms:-

(i) Petitioner shall deposit Rs. 2.00 lacs with the Bank on or before 31.12.2017.

(ii) The remaining amount shall be deposited, in six quarterly installments.

(iii) It is made clear that the last installment shall also carry the accumulated interest.

(iv) Recovery charges shall not be recovered from the petitioner.

(v) Any default on the part of the petitioner shall result in automatic vacation of this order and the respondent-Bank will be at liberty to proceed against petitioner in accordance with law.

7.

Pending application, if any, also stands disposed of.