Court No. - 27 Case :- MISC. BENCH No. - 7155 of 2010 Petitioner :- Mohd. Yunus Respondent :- Oriental Bank Of Commerce, Faizabad, & Anr. Petitioner Counsel :- Rajendra Jaiswal Respondent Counsel :- Pratul Kumar Srivastava Hon'ble Devi Prasad Singh,J.
Hon’ble S.C. Chaurasia,J.
Heard learned counsel for the petitioner and Mr. Pratul Kumar Srivastava,
learned counsel for the respondent Bank.
On account of default of payment of dues, Notice under Sub-section (2) of
Section 13 of the Securitisation and Reconstruction of Financial Assets and
Enforcement of Security Interest Act, 2002 (in short the Act) has been served
on the petitioner. In response to the notice, the petitioner has got opportunity
to submit a response.
Petitioner’s counsel submits that he is ready to pay dues and the respondents
be directed to provide correct statement of Account after adjusting amount
already deposited by the petitioner.
Sri Pratul Kumar Srivastava, learned counsel for respondent Bank has no
objection in case the petitioner is permitted to pay the dues in instalment at an
early date.
In view of the above, we direct the respondent Bank to provide correct
statement of Account showing the break up of interest and original amount so
that the petitioner may file objection and approach appropriate forum.
Accordingly, respondents are directed to furnish the petitioner the correct
statement of account within 15 days from the date of receipt of a certified
copy of this order. Thereafter, the petitioner is permitted to pay the entire dues
in six equal quarterly instalments. The first instalment shall fall due in
September, 2010. However, in the event of default of payment of dues, it shall
be open for the respondents to proceed in accordance with law to recover the
entire amount. It shall be open to the petitioner to approach the respondents
for rescheduling the amount dues in question.
The writ petition is accordingly disposed of.
Order Date :- 30.7.2010
Rajneesh)