Amit Kumar v. Regional Manager, Canara Bank
IN THE HIGH COURT OF JUDICATURE AT PATNA
Civil Writ Jurisdiction Case No.3684 of 2022 ====================================================== Amit Kumar, son of Sri Satendra Singh, Residence of Syndicate, P.O. + P.S.- Town Thana Buxar, District- Buxar- 802 101.
... ... Petitioner/s
Versus
1.
Regional Manager, Canara Bank, 2nd Floor, Maurya Tower, Maurya Lok Complex, Patna- 800 001.
2.
Authorised Officer, Canara Bank, 2nd Floor, Maurya Tower, Maurya Lok Complex, Patna- 800 001.
3.
Branch Manager, Canara Bank, Near Namak Gola, Buxar- 802 101. ... ... Respondent/s ====================================================== Appearance :
For the Petitioner/s :
Mr. Raj Nandan Prasad, Advocate Mr. Uma Shankar Kumar, Advocate For the Respondent/s :
Mr. Rajan Ghoshrave, 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 ofÏces/residences. Also, the Advocates and the Staffs joined the proceedings through Video Conferencing from their residences/ofÏces.) ===================================== Date : 01-04-2022 Heard learned counsel for the parties.
2/4 Petitioner has prayed for the following relief(s):- 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 petitioner states that petitioner is ready and willing to deposit the entire loan amount. Also, the petitioner is ready and willing to submit a proposal to the respondent Bank for (a) Re-determining the amount due and payable by the petitioner to the respondent Bank; (b) waiver of component of interest/penalty in terms of the policy of the Bank as also the guidelines issued by Reserve Bank of India and (c)
3/4 fixing the schedule for repayment of the amount due and payable.
Additionally, to show his bona fides, petitioner undertakes to deposit a sum of of 20 lacs (twenty lacs only) with the ₹ respondent Bank within a period of two months from today, spread over an instalment of Rs. 5 lacs (five lacs) per two weeks.
As such, we dispose of the present petition on the following mutually agreeable terms:- (a) Petitioner shall positively deposit a sum of 20,00,000/- (twenty lacs) with the respondent Bank ₹ within a period of two months from today, spread over an instalment of 5 lacs (five lacs) per two weeks;
₹ (b) Petitioner shall make himself available in the office of Respondent No. 2, namely the Authorised Officer, Canara Bank, 2nd Floor, Maurya Tower, Maurya Lok Complex, Patna- 800 001 on 11th of April, 2022 at 10:30 A.M. with a proposal, complete in all respect, for-(i) re-determining the amount due and payable by the petitioner to the respondent Bank; (ii) seeking waiver of interest/penalty 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;
4/4 (c) The respondent Bank shall take a decision on the petitioner's request within a period of eight 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) Until the decision is taken, status quo as on date be maintained;
(f) If the petitioner fails to deposit a sum of ₹ 20,00,000/- (Twenty lacs), as undertaken by him 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 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.
(Sanjay Karol, CJ) (S. Kumar, J) PKP/Amrendra AFR/NAFR CAV DATE Uploading Date 06.04.2022 Transmission Date