HARISH SUHALKA Vs. UNION BANK OF INDIA

JUDGEMENT

(1.) This civil writ petition has been preferred claiming the following reliefs:

(2.) As the pleaded facts and the record would reveal, the petitioner No.1 (henceforth referred to as 'the petitioner'), in connection with his business needs, availed loan facilities from the respondent-Bank; such loans, as per the petitioner, were duly repaid by him.

(3.) In the month of July 2009, the petitioner was sanctioned and advanced a term loan, to the tune of Rs.15,80,000.00, by the respondent-Bank, for the petitioner's business requirements; the petitioner duly adhered to the terms and conditions, mentioned in the agreement pertaining to the said loan, and had made timely repayment of the loan installments. However, thereafter, due to certain adverse market conditions, the petitioner was not able to deposit some amount in the concerned bank account, whereupon the respondent-Bank informed the petitioner that his account is going to be classified as NPA; the petitioner immediately approached the Manager of the respondent-Bank, and deposited the amount of Rs.1,43,327.00 and Rs.36,673.00 on 17/7/2019; whereafter, the petitioner was informed by the respondent-Bank that since the overdue amount has been deposited, the account of the petitioner shall be regularized.