Virendra Kumar vs Collector Lakhimpur Kheri & Ors
2017 Latest Caselaw 5206 ALL

HIGH COURT OF JUDICATURE AT ALLAHABAD, LUCKNOW BENCH
 
 

?Court No. - 4
 

 
Case :- MISC. SINGLE No. - 24048 of 2017
 

 
Petitioner :- Virendra Kumar
 
Respondent :- Collector Lakhimpur Kheri & Ors
 
Counsel for Petitioner :- Shrawan Kumar Verma
 
Counsel for Respondent :- C.S.C,Vinay Shankar
 

 
Hon'ble Rakesh Srivastava,J.

Heard Shri Shrawan Kumar Verma, learned counsel for the petitioner, learned Standing Counsel on behalf of the respondent nos. 1,2 & 3 and Shri Vinay Shankar, Advocate, learned counsel appearing on behalf of the respondent no. 4.

The petitioner had taken an agricultural loan of Rs. 8,23,000/- from the respondent bank. It appears that there was some default in the payment of the loan and recovery proceedings have been initiated against the petitioner.

Learned counsel for the petitioner submits that the petitioner is ready to clear off the dues of the Bank if time to deposit the same in installments is granted to the petitioner.

Learned counsel appearing for the respondent bank has no objection to the aforesaid request.

Accordingly, with the consent of the counsel for the parties, this writ petition is disposed of finally with the following directions: -

(i) The petitioner shall deposit an amount of Rs. 3,000,00/- with the respondent bank within four weeks' from today.

(ii) The entire balance amount shall be paid in six equal quarterly installments with the respondent Bank. The first installment shall be deposited in the first week of March, 2018 and the subsequent installments shall be deposited after every three months.

(iii)  During the aforesaid period, recovery proceedings shall be kept in abeyance. However, in case of default in payment of any installment, as stated above, this order shall automatically stand discharged and in that contingency the respondents shall be at liberty to recover the entire outstanding amount in accordance with law.

Order Date :- 7.10.2017

Deepak