Akhilesh Kumar Srivastava S/O ... vs Punjab National Bank, Branch ...
2011 Latest Caselaw 2247 ALL

HIGH COURT OF JUDICATURE AT ALLAHABAD, LUCKNOW BENCH
 
 

?Court No. - 27
 

 
Case :- MISC. BENCH No. - 5480 of 2011
 

 
Petitioner :- Akhilesh Kumar Srivastava S/O Brij Bihari Lal Srivastava
 
Respondent :- Punjab National Bank, Branch Civil Lines, Faizabad
 
Petitioner Counsel :- Shobh Nath Pandey
 
Respondent Counsel :- H.A.B. Sinha
 

 
Hon'ble Devi Prasad Singh,J.

Hon'ble S.C. Chaurasia,J.

Heard learned counsel for the parties and perused the record.

Submission of learned counsel for the petitioner is that the notice  under sub-Section (2) of Section 13 of the Securitisation and reconstruction of financial assets and enforcement of security interest Act has been issued without serving any notice. Further submission is that the petitioner is ready to pay the entire dues to which learned Standing Counsel has no objection.

Keeping in view the consensus between the parties, we dispose of the writ petition directing the petitioner to pay the entire dues in five equal quarterly instalments and the first instalment shall fall due in the month of July, 2011. In the meantime, respondents shall not take any coercive steps against the petitioner. 

With the aforesaid direction, the writ petition stands disposed of.

Order Date :- 6.6.2011

Rizvi