Allahabad High Court
Surendra Kumar Verma vs State Of U.P.Throu.Secy.Revenue ... on 8 July, 2019
Bench: Devendra Kumar Upadhyaya, Alok Mathur
HIGH COURT OF JUDICATURE AT ALLAHABAD, LUCKNOW BENCH
?Court No. - 4
Case :- MISC. BENCH No. - 17683 of 2019
Petitioner :- Surendra Kumar Verma
Respondent :- State Of U.P.Throu.Secy.Revenue Department Lucknow & Ors.
Counsel for Petitioner :- Asutosh Kumar Singh
Counsel for Respondent :- C.S.C.,Awadhesh Shukla,Lalit Shukla
Hon'ble Devendra Kumar Upadhyaya,J.
Hon'ble Alok Mathur,J.
Heard learned counsel for the petitioner and Sri Awadhesh Shukla, learned counsel representing the respondent-Bank.
Sri Shukla, on the basis of instructions received from the respondent-Bank has submitted that the loan account of the petitioner had become "non performing asset" (NPA), way back in the month of January, 2013 and thereafter, notice was issued to the petitioner on 11th September, 2017 demanding the dues. However, he did not pay the dues. Another notice was issued on 25th October, 2017 intimating him that under the deed of hypothecation, in case dues are not deposited by him, the tractor shall be taken away from him. Since the petitioner could not make payment of dues after notice dated 25th October, 2017, the Bank authorities have taken away the tractor from the petitioner since August, 2018.
Learned counsel for the respondent-Bank has intimated the Court that total dues outstanding against the petitioner, including the interest, is Rs.6,95,000/- an odd.
On being asked, learned counsel for the petitioner stated that except for taking away the tractor from the possession of the petitioner, no further recovery proceedings have been instituted against the petitioner.
However, learned counsel for the respondent-Bank states that in case petitioner deposits the entire amount in easy instalments, his tractor shall be released and coercive measures would not be taken against him.
Accordingly, this writ petition is finally disposed of, with following directions :-
(1) the petitioner shall deposit a sum of Rs.50,000/-, within one month from today with the respondent-Bank
(2) on the said deposit of Rs.50,000/-, the tractor which is lying in possession of the respondent-Bank, shall be immediately returned back to the petitioner.
(3) after the deposit of Rs.50,000/-, within one month under this order, as observed above, the tractor will be released in favour of the petitioner and the rest of the amount, out of Rs.6,95,000/- shall be deposited by the petitioner in six equal quarterly instalments, last of which, shall be paid by the petitioner on intimation of the respondent-Bank of the total dues outstanding against the petitioner including the interest which might accrue during this period.
In case the petitioner abides with the aforesaid conditions of this order, no coercive measures against the petitioner shall be taken.
However, in case of any default in following the terms of this order by the petitioner, it will be open to the respondent-Bank to proceed against the petitioner for recovery of dues, in accordance with law.
If the petitioner, deposits the amount as aforesaid, he will not be charged with any recovery charges.
Order Date :- 8.7.2019
A. Verma
