Saurav Kumar Singh v. The State Of Bihar,

IN THE HIGH COURT OF JUDICATURE AT PATNA

Civil Writ Jurisdiction Case No.5622 of 2021 ====================================================== Saurav Kumar Singh, son of Ashok Kumar Singh, resident of village Thana More, P.O.- Dev, District- Aurangabad ... ... Petitioner/s

Versus

1.

The State of Bihar, through Secretary, Finance Department, Govt. of Bihar, Patna 2.

The Recovery Officer, Debts Recovery Tribunal 2nd Floor, A, B & F Wing Karpuri Thakur Salon Ashiana- Digha Road, Patna 3.

The Regional Manager, Punjab National Bank, Aurangabad. 4.

The Sr. Branch Manager, Punjab National Bank Branch Office Dev, DistrictAurangabad. ... ... Respondent/s ====================================================== Appearance :

For the Petitioner/s :

Mr. Shailesh Kumar Singh, Advocate For the Respondent/s :

Ms. Anuradha Singh, SC-21 For the Bank :

Mr. Kumar Priya Ranjan, Advocate ====================================================== CORAM: HONOURABLE THE CHIEF JUSTICE and HONOURABLE MR. JUSTICE S. KUMAR ORAL JUDGMENT (Per: HONOURABLE THE CHIEF JUSTICE) Date : 15-12-2021 Heard learned counsel for the parties.

Petitioner has prayed for the following relief(s):-

2/4 Shri Kumar Priya Ranjan, learned counsel for the respondent Bank informs that as on date petitioner is to pay a sum of Rs. 19,25,358/- to the Bank.

3/4 Shri Shailesh Kumar Singh, learned counsel for the petitioner states that petitioner is ready and willing to enter into One Time Settlement with the respondent Bank, and to establish his bona fides, is ready and willing to deposit 10 per cent of the said amount.

Let the petitioner deposit 10 per cent of the said amount with the respondent Bank, within a period of four weeks from today by also giving a proposal as to how the petitioner would repay the amount.

We are hopeful that the respondent Bank would also take a lenient view and waive off the component of interest, to the extent possible in terms of the scheme of settlement and also fix installments to enable the petitioner to repay the amount arrived at by mutual consent. Needless to add, such exercise has to be made in accordance with the guidelines issued by the Reserve Bank of India, binding the respondent Bank. Till such time the exercise is completed, no coercive steps shall be taken against the petitioner. Liberty reserved to the parties to take recourse to such other remedies as are otherwise available in accordance with law.

Finding the offer and the intent of the petitioner to be bona fide, we have passed the order.

4/4 The instant 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 17.12.2021 Transmission Date