ASSAM FINANCIAL CORPORATION Vs. DILIP KALITA

JUDGEMENT

(1.) Heard Mr. PK Kalita, learned counsel for the appellants and Mr. S Borthakur, learned counsel for the respondent.

(2.) The appellant Corporation is before this Court assailing the order dated 20.9.2018 passed by the learned Single Judge in WP(C) No. 3933/2010. Through the said order the learned Single Judge having adverted to all aspects of the matter, has allowed the respondent herein to pay the entire amount of Rs. 59,625/- as intimated to him vide letter dated 28.8.2008. The appellant Corporation being aggrieved by the said direction is before this Court in this appeal.

(3.) The brief facts are that the respondent herein had availed financial assistance from the appellant Corporation. In respect of such financial assistance the outstanding had not been cleared and at the point when a sum of Rs. 10,24,322/- was due, a settlement package had been announced by the appellant Corporation. As per the same, if 20% of the loan amount was agreed to be paid, the loan was allowed to be settled in such terms. The respondent herein had sought to avail such benefit and on consideration of the same, through the communication dated 28.8.2008 the settlement of dues under the new OTS-2007 was accepted by the appellant Corporation in response to the application dated 29.5.2008 submitted by the respondent. As per the settlement reached, the respondent was required to pay a sum of Rs. 59,625/- in four equated monthly installments on or before 31.12.2008. Though such benefit had been granted to the respondent, he had failed to pay the amount as per the said settlement. In that view, the appellant Corporation through the communication dated 12.10.2009 recalled the benefit of the settlement granted to the respondent and in that view, the entire balance of Rs. 10,24,322/- was demanded. It is in that light, the respondent had made a grievance and the issue was raised by filing WP(C) No. 3933/2010. In that background, the learned Single Judge having taken note of the OTS proposal which was available at that point and since the benefit to settle the loan at Rs. 59,625/- was granted under such scheme, set aside the communication demanding the entire amount and accordingly allowed the respondent to pay the said amount of Rs. 59,625/-.