Ajay Vijay Dubey v. Union Of India, Thr. Secy., Ministry Of Communication And Technology, New Delhi And Others

2025:BHC-NAG:2542-DB 1/3

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

NAGPUR BENCH, NAGPUR.

WRIT PETITION NO. 344 OF 2025 Ajay Vijay Dubey -Vs-Union of India ,through Secretary and ors. ------------------------------------------------------------------------------------------------------------- Office notes, Office Memoranda of Coram, appearances, Court's orders Court's or Judge's Orders.

or directions and Registrar's orders.

-------------------------------------------------------------------------------------------------------------- Mr. C.A.Babrekar, counsel for the petitioner. Ms.Nisha Burange counsel for respondent No.1. Mr. Karan Sachdev, counsel for respondent No.4. CORAM: NITIN W. SAMBRE AND MRS.VRUSHALI V. JOSHI, JJ.

DATE : 12th MARCH, 2025.

1.

Admittedly, the petitioner has made following fixed deposits with the respondent Nos.1 to 3, wherein the period of maturity is also mentioned.

FD/RD/LIP/ KVIC/NSC Number Face Value of the Security Date of Issue Date of Maturity 137577 to 137581 3,00,000/- (10000/- each) 01.10.2015 01.10.2025 137570 to 137574 01.10.2015 01.09.2025 137526 to 137522 11.08.2015 11.08.2025 137067 to 137071 06.07.2015 06.07.2025 137050 to 137054 22.06.2015 22.06.2025 137030 to 137034 26.05.2015 26.05.2025.

2.

The petitioner has approached before this Court seeking premature closure of the account viz National

2/3 Savings Certificate (VIIIth Issue) Scheme -2019 (for short 'the Scheme of 2019') 3.

The petitioner has not disputed that the aforesaid National Savings Certificates are pledged to respondent No.4 and the liability is of Rs.3,77,000/-. He submits that the respondent No.4 is a custodian of the certificates and pursuant to clause-7 of the notification dated 12/12/2019 viz. the above referred Scheme of 2019 after adjusting the liability of respondent No.4 of Rs.3,77,000/-, the respondent No.4 be directed to release the balance amount in favour of the petitioner. 4.

The fact remains that clause-7 of the aforesaid Scheme of 2019 contemplates premature release. 5.

The cause cited in the premature release is that there is a failure to satisfy the amount for which the aforesaid security is pledged, as also the other liabilities. 6.

In that view of the matter, we permit the respondent No.4 along with the petitioner to apply for premature release of the National Savings Certificates pursuant to Clause-7 of the Scheme of 2019 after adjusting the amount of Rs. 3,77,000/- towards the pledged liability with the respondent No.4. Balance amount be paid by the respondent No.4 to the petitioner. Let the aforesaid exercise be completed within a period of two weeks from today.

3/3 7.

We make it clear that the respondent Nos.1 to 3 shall follow the necessary procedure including that of establishing identity and verification of the certificates. 8.

Accordingly, the writ petition stands allowed in above terms and disposed of.

(MRS. VRUSHALI V. JOSHI, J.) (NITIN W. SAMBRE, J.) Signed by: Kavita P Tayade Designation: PA To Honourable Judge Date: 13/03/2025 14:37:34