WPMS/2321/2021
2021 Latest Caselaw 4538 UK

     IN THE HIGH COURT OF UTTARAKHAND
                          AT NAINITAL
        ON THE 12TH DAY OF NOVEMBER, 2021
                              BEFORE:
     HON'BLE SHRI JUSTICE MANOJ KUMAR TIWARI

        Writ Petition (M/S) No. 2321 of 2021

Sunil Chandra Joshi                                            ...Petitioner
(By Mr. Pankaj Sharma, Advocate)
AND:

State of Uttarakhand and others                        ...Respondents
(Mr. Vinod Nautiyal, Deputy Advocate General for the State/respondent nos. 1
and 2 and Ms. Monika Pant, Advocate for the respondent no.3)

                            JUDGMENT

Petitioner took a loan from Union Bank of India, Rampur Road, District Haldwani for setting up a shop. Since petitioner could not repay the loan in time, therefore, the respondent-Bank has initiated proceedings for recovery of the outstanding loan. Thus, feeling aggrieved, petitioner has approached this Court.

2. Learned counsel for the petitioner submits that petitioner is ready and willing to repay the loan, however, due to financial constraints, it is not possible for him to repay the loan in one go. He therefore, prays that he may be permitted to repay the loan in instalments.

3. Learned counsel for the respondent no.3/Union Bank of India submits that petitioner can be permitted to repay the loan within eight months, provided he deposits 20% of the outstanding amount with the Bank within four weeks.

4. In view of the willingness shown by petitioner to repay the loan and also in view of the concession given by Ms. Monika Pant, Advocate for Union Bank of India, the writ petition is disposed of with the following directions:-

1. Petitioner shall deposit 20% of the outstanding amount with the concerned Branch of Union Bank of India within a period of four weeks from today. The remaining amount shall be repaid by the petitioner in three quarterly instalments.

2. The respondent-Bank shall apprise the petitioner about the amount of the quarterly instalments. The last instalment shall carry the interest.

3. Since petitioner would be depositing the entire amount directly with the Union Bank of India, therefore, no recovery charges shall be levied upon him.

4. In case of failure, on the part of petitioner to abide by any of the aforesaid conditions, he shall not be entitled to protection of this order and the Bank shall be at liberty to proceed against the petitioner, in accordance with law.

(MANOJ KUMAR TIWARI, J.) Shubham