Court No. - 24 Case :- MISC. SINGLE No. - 4000 of 2010 Petitioner :- Uma Shanker Respondent :- The District Magistrate Raibareli And Others Petitioner Counsel :- Sunil Kumar Singh Respondent Counsel :- C.S.C.,Mohd.Yusuf Hon'ble Rajiv Sharma,J.
Heard learned counsel for the petitioner and learned Standing Counsel
and Sri Mohd. Yusuf for opposite party No.3.
With the consent of learned counsel for the parties, this writ petition is
being disposed of at the admission stage.
By means of the instant writ petition, the petitioner prays for quashing of
the recovery certificate as contained in Annexure No. 1 to the writ
petition.
It has been stated in the writ petition that the petitioner had taken a loan
of Rs.3,45,000/- in the year 2006 from the opposite party No.3-Bank for
purchase of Tractor and paid certain amount to the opposite party no.3
but on account of financial crisis, the petitioner failed to pay the
remaining amount within the stipulated time to the respondent- Bank
and as such, the revenue authorities have proceeded to initiate recovery
proceedings to recover the amount.
Learned counsel for the petitioner submits that the petitioner is ready to
pay the outstanding amount in easy installments, to which learned
counsel for the respondents has no objection.
Keeping in view the commitment of the petitioner, it is provided that in
case the petitioner deposits 25% of the outstanding amount within a
period of one month from today, the recovery proceedings in pursuant to
the recovery certificate contained in Annexure No. 1 to the writ petition
shall remain in abeyance and the tractor of the petitioner shall be
released to him. It is further provided that the petitioner will deposit the
remaining balance of the outstanding dues in four equal quarterly
instalments. The first instalment will fall due in October, 2010. The last
instalment will also carry the interest amount. The instalments shall be
paid by 5th to 15th of the calendar month. In case of default of the
above conditions, the benefit of this order will not be extended to the
petitioner and the respondents shall be entitled to recover the entire
outstanding loan amount in one lump sum.
With these observations and directions, the writ petition is finally
disposed of.
Order Date :- 19.7.2010
Ajit/-