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M/S INDIAN INSTITUTE OF SOFRWARE MANAGEMENT & ANOTHER versus PRABAND NIDESHAK U.P.FINANCIAL CORP. & OTHERS

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 [2005] RD-AH 7508 (14 December 2005)

 

This is an UNCERTIFIED copy for information/reference. For authentic copy please refer to certified copy only. In case of any mistake, please bring it to the notice of Joint Registrar(Copying).

HIGH COURT OF JUDICATURE OF ALLAHABAD

         Court No. 1

Civil Misc. Writ Petition No.55324 of 2000

M/S Indian Institute of Software Management and another

Vs.

Prabandh Nideshak, U.P. Financial Corporation & another.

---

Hon'ble Yatindra Singh,J.

Hon'ble R.K.Rastogi,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.

Dated.14.12.2005

RPP.


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Reproduced in accordance with s52(q) of the Copyright Act 1957 (India) from judis.nic.in, indiacode.nic.in and other Indian High Court Websites

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