High Court of Judicature at Allahabad
Case Law Search
Todi Lal v. State Of U.P. & Others - WRIT - C No. 36354 of 2007  RD-AH 13704 (7 August 2007)
Hon'ble Arun Tandon, J.
Heard learned counsel for the petitioner, learned counsel for the respondent-bank and learned Standing Counsel for the State-respondents.
Petitioner is an agriculturist. He had obtained loan for agriculture purposes. It is admitted on record that he has committed default in payment of installments. The Bank has initiated proceedings for recovery of the outstanding dues and as such impugned recovery certificate has been issued.
Learned counsel for the petitioner submits that the petitioner is ready and willing to make the payment of the outstanding dues provided that he is permitted easy installments.
Learned counsel for the respondent-bank submits that the petitioner has committed default and, therefore, he must put to terms before any indulgence is granted. He has no objection to the payment being made in installments to be fixed by this Court.
Accordingly the present writ petition is disposed of with the following directions :
(a) The petitioner shall deposit 1/4th of the amount demanded within six weeks from today i.e. up to 18th September, 2007.
(b) After deposit of the said amount, he shall be at liberty to make an application along with a certified copy of this order to the Bank for furnishing the detail statement of accounts. On such application being filed, the Bank shall furnish details of the accounts asked for within two weeks.
(c) The balance amount as determined by the Bank along with up to date interest shall be paid by the petitioner in three equal installments of three months duration. First of which shall be paid on or before 18th December, 2007, the second by 18h March, 2008 and the last by 18th June, 2008. If the payment is so made, the petitioner shall not be asked to pay any recovery charges.
Auction proceedings, if scheduled, shall be kept in abeyance for a period of two months from today and thereafter shall abide the compliance of the directions, as provided herein above, by the petitioner.
In case of non-compliance of any of the conditions incorporated herein above, the petitioner shall not be entitled to the benefits of this order and the Bank shall be at liberty to recover the amount in accordance with law.
Double Click on any word for its dictionary meaning or to get reference material on it.