M/S Shankar Enterprises vs The Union Of India
2022 Latest Caselaw 1177 Patna

          IN THE HIGH COURT OF JUDICATURE AT PATNA
                    Civil Writ Jurisdiction Case No.2193 of 2022
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1. M/s Shankar Enterprises Village - Hasanpur Surat, P.O. and P.S. - Patory, District- Samastipur (Bihar), through its proprietor Uday Shanker @ Uday Shanker Choudhary.

2. Uday Shanker @ Uday Shanker Choudhary Son of Late Bishun Choudhary Village - Hasanpur Surat, P.O. and P.S. - Patory, District- Samastipur (Bihar) proprietor of M/s Shankar Enterprises).

3. Abhay Shanker @ Abhay Shanker Choudhary Son of Late Bishun Choudhary Village - Hasanpur Surat, P.O. and P.S. - Patory, District- Samastipur (Bihar).

... ... Petitioner/s Versus

1. The Union of India Department of Financial Service, Ministry of Finance, Government of India, New Delhi, through its Secretary.

2. The State Bank of India, madam Kama Road, Mumbai (Maharashtra) through its Chairman.

3. The Assistant General Manager, State Bank of India, Stressed Assets Recovery Branch (SARB), 2nd Floor, Patna Main Branch Building, West of Gandhi Maidan, Patna (Bihar).

4. The Authorized Officer, State Bank of India, Stressed Assets Recovery Branch (SARB), 2nd Floor, Patna main Branch Building, West of Gandhi Maidan, Patna (Bihar).

5. The Branch Manager, State Bank of India, Patory Branch, Patory, District-

Samastipur (Bihar).

... ... Respondent/s ====================================================== Appearance :

For the Petitioner/s : Mr. Rajendra Narayan, Sr. Advocate Ms. Anju Kumari @ Anju Narain, Advocate For the Respondent/s : Mr. Dr. Krishna Nandan Singh, ASG Mr. Shiv Narayan Thakur, Advocate Mr. Sanjay Singh Thakur, Advocate ====================================================== CORAM: HONOURABLE THE CHIEF JUSTICE and HONOURABLE MR. JUSTICE S. KUMAR ORAL JUDGMENT (Per: HONOURABLE THE CHIEF JUSTICE) ======================================================= (The proceedings of the Court are being conducted by Hon'ble the Chief Justice/ Hon'ble Judges through Video Conferencing from their residential offices/residences. Also, the Advocates and the Staffs joined the proceedings through Video Conferencing from their residences/offices.) Patna High Court CWJC No.2193 of 2022 dt.15-02-2022

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Date : 15-02-2022 Heard learned counsel for the parties.

Petitioners have prayed for the following relief(s):- Patna High Court CWJC No.2193 of 2022 dt.15-02-2022

We are entertaining the present petition in view of the

fact that at this point in time, the Debt Recovery Tribunal is not

functional on account of non-appointment of Presiding Officer.

Shri Sanjay Singh Thakur, learned counsel for the

respondent Bank states that the process of auction is underway.

Though he could not verify, but also not dispute the statement

made by Shri Rajendra Narayan, learned Senior Counsel

appearing on behalf of the petitioner that in the month of

February, 2022 itself petitioner has deposited a sum of ₹35 lacs.

We notice that the total amount due and payable by

the petitioner as on 19th of January, 2021 was ₹72,20,329.36.

We are satisfied about the petitioners' bona fides of

settling the matter with the respondent Bank.

Additionally, petitioners undertake to deposit a sum of

₹5 lacs within a period of seven days from today.

As such, we dispose of the present petition on the

following mutually agreeable terms:-

(a) Petitioners shall make themselves available in

the office of Respondent No. 3, namely the Assistant

General Manager, State Bank of India, Stressed Assets

Recovery Branch (SARB), 2nd Floor, Patna Main Branch Patna High Court CWJC No.2193 of 2022 dt.15-02-2022

Building, West of Gandhi Maidan, Patna (Bihar), on 22 nd of

February, 2022 at 10:30 A.M. with a proposal, complete in

all aspect, for-(i) re-determining the amount due and

payable by the petitioners to the Bank; (ii) the period within

which the remaining amount shall be deposited by the

petitioners to the Bank, which, in the present case is six

equal monthly instalments; (iii) seeking waiver of interest

as per the policy of the Bank as also in terms of guidelines

issued by the Reserve Bank of India;

(c) The Bank shall take a decision on the

petitioner's request within a period of four weeks thereafter;

(d) Such decision has to be in accordance with

law; the guidelines issued by the Reserve Bank of India and

maintaining parity;

(h) Till such time the decision is taken on the

petitioners' request, status quo as of now i.e. 15th of

February, 2022, 1:30 P.M. shall be maintained and the

process of sale shall not be allowed to be concluded.

(f) If the petitioners fail to repay the amount in

terms of the schedule fixed by the Bank on mutually

agreeable terms, it shall be open for the Bank to take Patna High Court CWJC No.2193 of 2022 dt.15-02-2022

recourse to the remedies in accordance with law, including

sale of mortgaged/hypothecated property;

(g) Should the need so arise, petitioners shall be at

liberty to take recourse to such other remedies as are

available in accordance with law;

Petition stands disposed of in the aforesaid terms.

Interlocutory Application(s), if any, stands

disposed of.

(Sanjay Karol, CJ)

(S. Kumar, J) Amrendra/PKP AFR/NAFR CAV DATE Uploading Date 17.02.2022 Transmission Date