Alok Kumar v. Bank Of India
IN THE HIGH COURT OF JUDICATURE AT PATNA
Civil Writ Jurisdiction Case No.4122 of 2022 ====================================================== Alok Kumar Son of Sheo Pujan Pandey, Resident of House No. A/6, Bank of India Colony, Opposite Taxila Apartment, Police Station- Shastri Nagar, District- Patna.
... ... Petitioner/s
Versus
1.
Bank of India through its Chairman cum Managing Director, Star House C5, G Block, Bandra Kurla Complex, Bandra (East), Mumbai- 400051. 2.
Authorizing Officer, Bank of India, Zonal Office, R- Block Chauraha, Patna, Bihar- 800001.
3.
Chief Manager, Bank of India, Jamal Road Branch, Patna. 4.
Bharat Petroleum Corporation Limited, through its Chairman cum Managing Director, Address- Bharat Bhawan, 4 and 6 Currimbhoy Road, Ballard Estate, P.B. No. 688, Mumbai- 400001.
5.
The Territory Manager, Bharat Petroleum Corporation Limited, Address- 70 feet, Bye Pass, Post Office- Pakri via Anishabad, Police Station- Beur, District- Patna, Pin Code- 800002.
... ... Respondent/s ====================================================== Appearance :
For the Petitioner/s :
Mr.Sanjeev Ranjan, Advocate For the Respondent/s :
Mr. Sidhartha Prasad, Advocate Mr. Om Prakash Kumar, Advocate ====================================================== CORAM: HONOURABLE THE CHIEF JUSTICE and HONOURABLE MR. JUSTICE S. KUMAR ORAL JUDGMENT (Per: HONOURABLE THE CHIEF JUSTICE) Date : 24-03-2022 Heard learned counsel for the parties.
Petitioner has prayed for the following relief(s).
2/5
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 petitioner states that petitioner is ready and willing to submit a proposal to the respondent Bank for (a) settlement of the dues 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) fixing the schedule for repayment of the amount due and payable. Additionally, to show his bona fides, petitioner
4/5 undertakes to deposit a sum of of Rs. 30 lacs (thirty lacs only) with the respondent Bank within a period of one week from today.
As such, we dispose of the present petition on the following mutually agreeable terms:- (a) Petitioner shall positively deposit a sum of 30,00,000/- (thirty lacs) with the respondent Bank within a ₹ period of one week from today;
(b) Petitioner shall make himself available in the office of Respondent No. 2, namely the Authorized Officer, Bank of India, Zonal Office, R- Block Chauraha, Patna, Bihar- 800001 on 11th of April, 2022 at 10:30 A.M. with a proposal, complete in all aspect, 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; (c) The 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
5/5 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 and no further coercive steps shall be taken against the petitioner;
(f) If the petitioner fails to deposit a sum of Rs. Thirty 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, shall stand disposed of.
(Sanjay Karol, CJ) ( S. Kumar, J) Rajiv/veenaAFR/NAFR CAV DATE Uploading Date Transmission Date