Laxmi Verma And 7 Ors. vs Debts Recovery Tribunal Lko.And 7 ...
2023 Latest Caselaw 20955 ALL

HIGH COURT OF JUDICATURE AT ALLAHABAD, LUCKNOW BENCH
 
 


?Neutral Citation No. - 2023:AHC-LKO:51809
 
Court No. - 17
 

 
Case :- WRIT - C No. - 1001398 of 2008
 

 
Petitioner :- Laxmi Verma And 7 Ors.
 
Respondent :- Debts Recovery Tribunal Lko.And 7 Ors.
 
Counsel for Petitioner :- Pritish Kumar
 
Counsel for Respondent :- Smt. Pushpa Saxena,Prashant Kumar
 

 
Hon'ble Alok Mathur,J.

1. Heard Sri Shantanu holding brief of Sri Pritish Kumar for the petitioners as well as Sri Prashant Kumar Srivastava for respondent No.4- Bank of Baroda, Bulandshahar.

2. Present writ petition was filed assailing the judgment and order dated 9.11.2006 passed by Debts Recovery Tribunal, Lucknow. It is stated that the petitioner is the alleged guarantor of the loan obtained by respondent No.5 from respondent No.4. During pendency of this proceedings it seems that respondent No.5 has already settled the outstanding amount with respondent No.4 and the loan account has been closed and a counter affidavit to this effect has been filed by Chief Manager, Bank of Baroda, Branch Bulandshahar, which is taken on record. In para 5 of this counter affidavit following has been averred:-

"5. That after the Judgment/Order, Dated-27.07.2005, the execution proceeding having DRC No.43 of 2005 was also initiated. But, in mean time the borrower and bank has entered in to a OTS compromise settlement and in terms of settlement, the borrower has deposited the amount of 63,00,000/- on different dates and therefore the Loan Account No. 07730500020329, which was subject of recovery proceedings, was closed on 25.02.2020. After the closure of the aforesaid loan account no amount is going to be recovered against any of the borrower and guarantor. Therefore, the instant writ petition has lost its importance. The true copy of the Account Statement regarding Loan Account No. 07730500020329 is being filed herewith as ANNEXURE NO.C-1 to this Counter Affidavit."

3. This Court has considered the fact that the loan amount has already been settled and the borrower has deposited an amount of Rs.63,00,000/- on different dates. The said account has also been closed on 25.2.2020 and no amount is due or recoverable from either the borrower or the guarantor.

4. In light of the above, no further orders are required to be passed by this Court. The petition is accordingly dismissed as having become infructuous.

5. With regard to the original title deed mortgaged with the Bank the petitioner is given liberty to move suitable application which may be duly considered by the respondent -bank and necessary orders may be passed in this regard within a period of three weeks.

Order Date :- 7.8.2023 (Alok Mathur, J.)

RKM.