High Court of Judicature at Allahabad
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M/S Indian Institute Of Sofrware Management & Another v. Praband Nideshak U.P.Financial Corp. & Others - WRIT - C No. 55324 of 2000  RD-AH 7508 (14 December 2005)
Court No. 1
Civil Misc. Writ Petition No.55324 of 2000
M/S Indian Institute of Software Management and another
Prabandh Nideshak, U.P. Financial Corporation & another.
Hon'ble Yatindra Singh,J.
The petitioner no. 1 had taken loan from U.P. Financial Corporation ( the Corporation ) in the year 1988. This loan was disbursed by the Allahabad Regional Office of the Corporation. According to the petitioners after some times this unit was shifted to Jhansi with the permission of the Corporation. The petitioners while taking the loan had also pledged UTI Certificates, Kisan Vikas Patra and National Saving Certificate. Subsequently recovery was issued on 21.10.2000, hence, the present writ petition.
We have heard counsel for the petitioners and the Standing Counsel.
This Court on 8.1.2001 stayed recovery proceedings subject to payment of Rs.75,000/- and this order was partly modified and interim order was continued on payment of Rs.61,000/- which the petitioners had paid by Bank Draft, details of which were also filed along with supplementary affidavit. No counter affidavit has been filed on behalf of the Corporation till today.
In the circumstances of the case, it will be appropriate that the petitioners may file a fresh representation ( including the request for one time settlement) before respondent no.3 within one from from today. In case the representation is filed, the same may be decided by the said respondent by a reasoned order at an early date, if possible, within three months from the date of receipt of the representation. The petitioners will file a certified copy of this order; necessary documents and a duly stamped self addressed envelope along with the representation. The concerned authority after taking decision will communicate the same to the petitioners.
Till disposal of the petitioners' representation, the recovery proceedings shall be kept in abeyance.
With these observations the writ petition is disposed of.
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