Court No. - 28 Case :- WRIT - C No. - 37704 of 2010 Petitioner :- Jiya Lal Respondent :- State Of U.P. & Others Petitioner Counsel :- Prem Babu Verma Respondent Counsel :- C.S.C.,Tarun Verma Hon'ble Rajesh Dayal Khare,J.
Heard learned counsel for the petitioner, learned Standing Counsel for the
State and Sri Tarun Verma, learned counsel for the respondent-bank.
It is submitted by learned counsel for the petitioner that the petitioner is an
agriculturist and had taken agriculture loan of Rs. 2,50,000/- from the
respondent bank on 25.06.2002 for purchase of tractor bearing registration no.
U.P.63D-1884, but due to unavoidable circumstances, the petitioner could not
deposit the loan amount and now recovery citation of Rs.3,38,847 plus
interest has been issued against the petitioner. Learned counsel for the
petitioner has further submitted that the petitioner is ready to pay the entire
outstanding loan amount alongwith interest in easy installments. Learned
counsel for the petitioner has next submitted that the tractor of the petitioner
has been attached by the respondent-bank.
Sri Tarun Verma, learned counsel for the respondent-bank has no objection to
the aforesaid submissions of the learned counsel for the petitioner.
Considering the submissions made by learned counsel for the parties, the
present writ petition is finally disposed of with the following directions:-
(i) The petitioner shall pay the entire recovery amount due against him
alongwith interest to the respondent-bank in six equal installments. The Ist
installment shall be paid by the petitioner on or before 2nd of August, 2010.
After deposit of the Ist installment the tractor of the petitioner which is said to
have been attached by the respondent-bank shall be released forthwith.
Subject to the deposit of Ist Installments on or before 2nd August, 2010,
recovery proceedings against the petitioner shall be kept in abeyance
provided,
(ii) The remaining five installments shall be paid over by the petitioner at
regular interval of two months each starting from 2nd October, 2010 with the
respondent bank.
In case of default in payment of any installments, as stated above, then interim
protection granted by this Court shall automatically stands vacated and the
respondent-bank shall be at liberty to realize the loan amount due against the
petitioner as per law.
Order Date :- 2.7.2010
S.Ali