Krishna Kumar Sinha v. The Union Of India
IN THE HIGH COURT OF JUDICATURE AT PATNA
Civil Writ Jurisdiction Case No.3505 of 2022 ====================================================== 1.
Krishna Kumar Sinha, Son of Shyam Bihari Lal, Resident of Mohalla-Sri Ram Colony, Bengali Colony Road, Town-Patna City, P.O.-Begumpur, P.S.- Chowk, District-Patna.
2.
Smt. Sunita Sinha, Wife of Sri Krishna Kumar Sinha, Resident of MohallaSri Ram Colony, Bengali Colony Road, Town-Patna City, P.O.-Begumpur, P.S.-Chowk, District-Patna.
... ... Petitioner/s
Versus
1.
The Union of India Department of Financial Service, Ministry of Finance, Government of India, New Delhi, through its Secretary 2.
INdian Bank (Erstwhile Allahabad Bank), Patna Main Branch, Budh Marg, Town and District-Patna (Bihar), through its Chief Manager 3.
The Authorized Officer, Indian Bank (Erstwhile Allahabad Bank), Patna Main Branch, Budh Marg, Town and District-Patna. ... ... Respondent/s ====================================================== Appearance :
For the Petitioner/s :
Mr.Sanjiv Kumar, Advocate For the UoI :
Dr. K. N. Singh, ASG For the Bank :
Mr. Binay Kr. Singh, Advocate ====================================================== CORAM: HONOURABLE THE CHIEF JUSTICE and HONOURABLE MR. JUSTICE S. KUMAR ORAL JUDGMENT (Per: HONOURABLE THE CHIEF JUSTICE) Date : 09-03-2022 Heard learned counsel for the parties.
The petitioners have prayed for the following relief/s :-
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3/5 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.
Learned counsel for the petitioners states that the petitioners are ready and willing to settle the matter with the respondent-Bank. To show their bona fides, petitioners undertake to deposit a sum of Rs. Three Lacs in two installments, out of which Rs. Two lacs will be deposited on or before 17.03.2022 and the rest amount of Rs. one lac on or before 31.03.2022.
Learned counsel for the respondent Bank has no objection.
Taking a holistic view, we dispose of the present petition on the following mutually agreeable terms:- (a) Petitioners will positively deposit a sum of Rs. Three Lacs in two installments, out of which Rs. Two lacs will be deposited on or before 17.03.2022 and the rest amount of Rs. one Lakh on or before 31.03.2022. ; (b) Petitioners will make themselves available in the office of Respondent No. 3, namely, the Authorized
4/5 Officer, Indian Bank (Erstwhile Allahabad Bank), Patna Main Branch, Budh Marg, Town & District, Patna, on 17.03.2022 at 10:30 A.M. along with receipt of deposit of Rs. Two lacs, with a proposal, complete in all aspect, for-(i) re-determining the amount due and payable by the petitioners to the Bank; (ii) seeking waiver of interest on the principal amount due and payable in terms of the policy of the Bank as also the guidelines issued by the Reserve Bank of India;
(c) The Bank shall take a decision on the petitioners' request within a period of two weeks thereafter; (d) Such decision has to be in accordance with law; the guidelines issued by the Reserve Bank of India and maintaining parity;
(e) Till the time proposal is pending with the authorities, no coercive action shall be taken against the petitioners.
(f) If the petitioners fail to deposit a sum of Rs. three lacs, as undertaken by them, or 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
5/5 recourse to the remedies in accordance with law, including sale of mortgaged/hypothecated property.
Petition stands disposed of in the aforesaid terms. Interlocutory Application(s), if any, stands disposed of.
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