ANIL KUMAR S/O LATE SRI SUBE SINGH Vs. STATE OF UTTARAKHAND THROUGH DISTRICT MAGISTRATE, DEHRADUN AND TWO OTHERS

JUDGEMENT

(1.) HEARD Mr. Raj Kumar Singh, Advocate for petitioner, Mr. K.C. Tewari, Brief Holder, on behalf of respondents 1 and 2 and Mr. Siddharth Sah, Advocate for respondent No.3. By means of this petition the petitioner has sought the following relief: -

(2.) ACCORDING to petitioner, the petitioner was sanctioned a Cash Credit Limit of Rs. 50,000/ - by respondent bank in the year 2000. Brother of petitioner was guarantor in the aforesaid Cash Credit Limit along with one Mr. Sunil Kumar Jayaswal, whose FDR of Rs. 40,000/ - is still lying with the bank as security against the aforesaid Cash Credit Limit. In the year 2002, in family settlement the ownership of the shop/house where the business was running went to the share of petitioner's brother. Thereafter the petitioner started his business of milk dairy at Raiwala which is still running. In the year 2003 petitioner's brother sold out the house and also closed the business of Jai Gange Milk Cake Bhandar and this fact came to the knowledge of petitioner after a long period and due to aforesaid facts and circumstances of the case the petitioner could not repaid the entire loan amount. On 7 -2 -2012 the respondent No.2 issued recovery citation against petitioner for a sum of Rs. 2,99,857/ - along with recovery charges. The petitioner is ready to pay the loan amount in easy instalments.

(3.) LEARNED counsel appearing on behalf of respondent/Bank, on the basis of instructions sought from the Bank, has contended that if the petitioner deposits the loan amount in equal four quarterly instalment, he has no objection and the amount of the F.D.R. shall also be adjusted in the loan amount.