Vijay Kumar vs State Of Uttarakhand & Others

Manoj Kumar Tiwari, J

Petitioner took a loan from UCO Bank, Branch Pantnagar, District Udham Singh Nagar for purchase of truck. Since petitioner could not repay the

loan in time, therefore, the Bank has issued a recovery certificate for a sum of ₹7,17,114.91 plus other charges. Thus, feeling aggrieved, petitioner has

approached this Court.

A coordinate Bench of this Court had passed an interim order dated 25.06.2018 providing that if petitioner deposits a sum of ₹1.00 lakh with the

Bank within two weeks, then recovery citation issued against him shall remain stayed.

Mr. Rashid Husain, learned counsel for the petitioner submits that petitioner had deposited the amount of ₹1.00 lakh with the Bank in terms of the

order dated 25.06.2018.

Since there is no representation for the Bank, therefore, this Court has no other option, but to take the said statement on its face value.

Mr. Rashid Husain, learned counsel for the Bank submits that petitioner is ready and willing to liquidate the loan, provided some reasonable time is

given to him for the purpose.

Having regard to the facts and circumstances of the case, the writ petition is disposed of by permitting the petitioner to approach the Competent

Authority in the Bank by making a representation for fixing four installments, for repayment of the outstanding loan amount, provided he deposits 25%

of the total loan amount as on 30.06.2021, within three weeks from today. The Competent Authority in the Bank shall take decision on petitioner’s

representation within a period of three weeks from the date of receipt of such representation.

For a period of six weeks or till decision on petitioner’s representation, whichever is earlier, no coercive action shall be taken against the

petitioner.