Arun Kumar Agrawal vs The Punjab National Bank
2022 Latest Caselaw 908 Patna

          IN THE HIGH COURT OF JUDICATURE AT PATNA
                  Civil Writ Jurisdiction Case No.11776 of 2021
     ======================================================

Arun Kumar Agrawal, Son of Mohan Lal Agrawal, Resident of Mohallah-Sati Nath Bhaduri Lane, Bhatta Durgabadi, Purnea (Bihar).

... ... Petitioner/s Versus

1. The Punjab National Bank through Regional Manager Katihar Circle, Katihar.

2. The Chief Manager Punjab National Bank. Katihar Circle Officer, Katihar.

3. The Chief Manager-Cum-Authorized Officer Branch Officer Purnea (Katihar Circle), Purnea.

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

For the Petitioner/s : Mr. Abhishek, Advocate Mr. Subhen Sarkar, Advocate For the Respondent/s : Mr. Kumar Priya Ranjan, 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.)

Date : 03-02-2022

Petitioner has prayed for the following relief(s):- Patna High Court CWJC No.11776 of 2021 dt.03-02-2022

On 20.01.2022, we have passed the following

order:-

"Shri Kumar Priya Ranjan, learned counsel appearing on behalf of the respondent Bank, under instructions from the Chief Manager of the respondent Bank, states that despite the conduct of the petitioner, Patna High Court CWJC No.11776 of 2021 dt.03-02-2022

Bank is ready and willing to have the matter amicably resolved, subject to the petitioner further establishing his bona fides by depositing some amount within a period of one week from today. Also, petitioner has to increase his offer with regard to the waiver of interest. In any case, he has to pay the cost incurred by the Bank for initiating proceedings before different foras. Also, the petitioner must undertake to withdraw the Civil Suit filed by one of the family members.

Shri Kumar Priya Ranjan, learned counsel further states that as on date petitioner is liable to pay a sum of ₹1 crore 91 lacs (Principal amount plus interest accrued thereon till January, 2022).

Learned counsel for the petitioner states that his client is ready and willing to pay a sum of ₹1 crore 51 lacs in six equal monthly instalments, plus the interest which would accrue thereupon, from today onwards.

We find that the mismatch is only of ₹40 lacs and the amount of litigation charges/miscellaneous charges incurred by the Bank.

We notice that the parties have been continuously litigating before different foras, and in our considered view, it would be only prudent for them to arrive at an amicable settlement, more so in view of the petitioner's stand taken before this Court, of not only undertaking to repay the amount in equal instalments, but also in default whereof, liable to be held up for having violated the orders passed by this Court, and thus committed contempt.

We are of the view that at this point in time, the Bank would be in a position to recover the entire amount for which they have been litigating over a period of time.

Let the parties ponder over their respective offers. On their request, matter is adjourned. List this case on 3rd of February, 2022. In the meanwhile, to establish his bona fides, petitioner shall further positively deposit a sum of ₹10 lacs with the respondent Bank.

Learned counsel for the petitioner states that this shall positively be done on or before 25 th of January, 2022.

We clarify that the deposit of the amount shall be subject to the outcome of the present petition and without prejudice to the respective rights and contentions of the parties.

Patna High Court CWJC No.11776 of 2021 dt.03-02-2022

We are passing the said order only for the reason that at this point in time, the Debt Recovery Tribunal is not functional, for none stands appointed as a Presiding Officer.

We welcome the suggestion made by Shri Kumar Priya Ranjan, learned counsel appearing on behalf of the respondent Bank that the petitioner can sit with the Chief Manager of the respondent Bank for resolution of the disputes on 27th of January, 2022.

Learned counsel for the petitioner states that petitioner shall make himself available in the office of the said officer on 27th of January, 2022."

In terms thereof, petitioner deposited a sum of

Rs. 10 lacs.

Petitioner, through learned counsel, reiterates his

request for (a) waiver of interest of Rs. 40 lacs and (b)

repayment of remaining amount of Rs. 1,41,00,000/- (Rupees

one crore forty one lacs only) in six equal monthly installments.

Shri Kumar Priya Ranjan, learned counsel

appearing on behalf of the respondent-Bank states that insofar

as the issue of waiver of interest is concerned, it is for the

authority to consider and as such, petitioner may approach the

Respondent No. 2, namely, The Chief Manager Punjab National

Bank. Katihar Circle Officer, Katihar giving a concrete proposal

in that regard. Insofar as repayment of amount in installments is

concerned, obviously, petitioner has to pay interest on the said

amount.

Patna High Court CWJC No.11776 of 2021 dt.03-02-2022

We find the suggestion to be acceptable as such,

as mutually agreed upon, we dispose of the present petition in

the following terms:-

(i) petitioner shall make himself available in the

office of the Respondent No. 2 namely, The Chief Manager

Punjab National Bank. Katihar Circle Officer, Katihar, on

14.02.2022 at 10:30 A.M. when a proposal complete in all

respect, shall be submitted for both waiver of interest as also

repayment of the amount (principal plus interest) in equal

monthly installments, spread over a period of six months;

(ii) We are sure that the respondent No. 2 shall

take a decision accounting for all factors, including the

prevalent economic conditions and hardship having arisen out of

current pandemic Covid-19;

(iii) Such decision has to be taken keeping in

mind the principle of parity as also the guidelines and directions

issued by the headquarters of the Bank and the Reserve Bank of

India;

(iv) The decision be communicated to the

petitioner within a period of three weeks;

(v) Till the time proposal is pending with the

authorities, no coercive action shall be taken against the Patna High Court CWJC No.11776 of 2021 dt.03-02-2022

petitioner;

(vi) Liberty reserved to the parties to take

recourse to such remedies are otherwise available, should the

need so arise subsequently;

(vii) However, we are hopeful that with the

intervention of the respondent Bank, the matter would be

resolved amicably.

The instant petition sands disposed of in the aforesaid

terms.

Interlocutory Application(s), if any, stands disposed

of.

(Sanjay Karol, CJ)

( S. Kumar, J) Sujit/-

AFR/NAFR
CAV DATE
Uploading Date          07.02.2022
Transmission Date