2024:UHC:7220
HIGH COURT OF UTTARAKHAND AT NAINITAL
Writ Petition Misc. Single No. 2456 of 2024
M/s S. R. Solar Energy Park --Petitioner
Versus
Central Bank of India and Another --Respondents
Presence:-
Mr. Sharang Dhulia, learned counsel for petitioner-firm,
appeared through video conferencing.
Mr. Ashish Joshi, learned counsel for respondent No.1-Bank,
appeared through video conferencing.
Hon’ble Pankaj Purohit, J. (Oral)
Heard learned counsel for the parties.
2. A loan amounting to Rs.3,60,00,000/-
(Rupees Three Crore Sixty Lakhs only) was issued in
favour of the petitioner-firm. It could not repay the
aforesaid loan, therefore, on 30.04.2018, loan
amount was rendered NPA against the petitioner. On
the request made by the petitioner, One Time
Settlement (OTS) was conducted between the parties
and in One Time Settlement, petitioner-firm was
directed to pay Rs.1,59,55,600/- as One Time
Settlement. As OTS, the petitioner-firm has deposited
Rs.81,00,000/-, but rest of the payment could not be
made by the petitioner-firm, therefore, respondent-
Bank has initiated the recovery proceedings against
the petitioner-firm for Rs. 94,63,000/-(including
interest).
3. Now, the petitioner is before this Court, by
filing the present writ petition, challenging the
aforesaid recovery proceeding.
4. Vide order dated 18.09.2024, learned
counsel for the petitioner was asked to seek
instruction as to whether the petitioner is ready to
deposit the balance of the amount of OTS or not.
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2024:UHC:7220
5. Today, learned counsel for the petitioner
submitted that the petitioner-firm is ready to deposit
the balance amount of One Time Settlement (OTS),
but, for that purpose, petitioner-firm needs some
time and that may be accommodated to the
petitioner-firm.
6. Learned counsel for the respondent No.1-
Bank has no objection, if some time is given to the
petitioner-firm.
7. Having considered the submissions made
by of the parties and having gone through the
pleadings, this Court is of the view that ends of
justice would be met, if petitioner-firm is granted 03
months’ time to deposit the balance amount.
8. In this view of the matter, the writ petition
is disposed of with a direction to petitioner-firm to
deposit the balance amount of Rs.94,63,000/-
(including interest) to the respondent No.1-Bank,
within a period of three months from today. However,
a sum of Rs.40,00,000/- (Rs. Forty Lakhs only) shall
be deposited by the petitioner-firm within 30 days’
from today and the rest of amount will be deposited
as half in two installments thereafter within two
months. Failing which, the petitioner-firm will not
avail the benefit of this order.
(Pankaj Purohit, J.)
30.09.2024
PN
PREETI
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