HARISH CHANDRA SINGH NAGARKOTI Vs. DISTRICT MAGISTRATE/COLLECTOR, BAGESHWAR
HIGH COURT OF UTTARAKHAND
Harish Chandra Singh Nagarkoti
District Magistrate/Collector, Bageshwar
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SERVESH KUMAR GUPTA, J. -
(1.) ON due consideration, urgency application no.291 of 2013 is
(2.) ALSO heard on the merits of the petition. Having heard the learned counsel for the parties, it transpires that in the year 1996,
petitioner, on behalf of his firm M/s Virendra Grits & Cement Blocks,
borrowed a loan worth Rs. 13,13,000/ - from the U.P. Financial Corporation
(hereinafter called as Corporation). The petitioner could not repay the
same and later on in the year 2000, his Unit was declared to be sick one.
The Corporation, when strived to recover the amount of debt, petitioner
filed a writ petition bearing no.42854/1999 before the Allahabad High
Court, which was re -numbered as WPMB No.1204 of 2001 on being transferred
to this Court after this State came into existence. The petition, while
taken up for hearing, was permitted to be withdrawn as prayed for by the
learned senior counsel who appeared for the petitioner, but a liberty was
granted to him for making representation to the Corporation in order to
persuade them to grant easy installments/waiver of loan.
(3.) IT appears that when the petitioner could get any relief from the Corporation or its Officers, he has again approached this Court by
way of filing the instant petition.
Learned counsel has read out the provisions of Section 1(4), as also Section 17 of the Recovery of Debts Due to Banks & Financial
Institutions Act, 1993 [hereinafter would be called as the Act].
Attention of this Court was also drawn towards a judgment rendered by
Honble Apex Court in the case of "Unique Butyle Tube Industries (P)
Ltd. Vs. U.P. Financial Corporation & others reported in (2003) 2 SCC 455.;
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