M/S Grain Wharf & Others ...... ... vs Bank Of India
2023 Latest Caselaw 3427 UK

    IN THE HIGH COURT OF UTTARAKHAND
                AT NAINITAL


THE HON'BLE THE ACTING CHIEF JUSTICE SRI MANOJ KUMAR TIWARI
                               AND
             THE HON'BLE SRI JUSTICE PANKAJ PUROHIT




             WRIT PETITION (M/B) NO. 197 OF 2023


                        8TH NOVEMBER, 2023



M/s Grain Wharf & others                     ......          Petitioners


Versus


Bank of India                                ......         Respondent


Counsel for the petitioners      :   Mr. Bhupesh     Kandpal,   learned
                                     counsel

Counsel for the respondent       :   Mr. Vikas Pande, learned counsel


The Court made the following:



JUDGMENT: (per Hon'ble The Acting Chief Justice Sri Manoj Kumar Tiwari)



             Petitioner, a partnership firm, took a loan from

Bank of India, Dehradun Branch.                    Since petitioner

defaulted in repayment of loan, therefore, the bank

initiated recovery proceedings against it. Debt Recovery

Tribunal, Dehradun has decided against petitioner and

now auction notice has been issued against him.
                           2




2)        Learned counsel for the petitioner submits that

secured assets have not been auctioned so far.


3)        In this petition, petitioner has challenged the

judgment rendered by DRT. Since petitioner has remedy

of filing an appeal before the Appellate Authority,

therefore, we are not inclined to entertain the challenge

to the judgment rendered by the DRT, by the petitioner.


4)        Learned counsel for the petitioner submits that

petitioner is ready to repay the loan, and for that

purpose, petitioner is willing to submit a proposal for

One Time Settlement.


5)        Mr. Vikas Pande, learned counsel for the bank

submits that if that is the case, then petitioner can

approach the competent authority in the bank by

submitting its offer.


6)        Accordingly, writ petition is disposed of with

liberty to petitioner to approach the Chief Manager, Bank

of India, Dehradun, with its offer, within 48 hours.   If

petitioner submits its proposal, the Chief Manager shall

examine and take decision thereupon, as per law, within

one week thereafter.
                          3




7)        Let copy of this judgment be supplied to

learned counsel for the parties today itself on payment

of usual charges.



                         __________________________
                         MANOJ KUMAR TIWARI, A.C.J.



                                  _______________
                                  PANKAJ PUROHIT, J.

Dt: 8TH NOVEMBER, 2023 Negi