A person who took a loan, is bound to repay the principal amount as well as the amount of accrued interest: High Court of Uttarakhand.
Where a person has taken a loan, he is bound to repay the principal amount and the accrued interest. And where such a person is ordered by the court to repay the same, and if such person does not comply to it, then he does not deserve any sympathy or indulgence of this Court. A single Judge bench comprising Hon’ble Justice Manoj Kumar Tiwari, in the matter of Bhupal Ram Vs. District Magistrate/Collector, Bageshwar and Others. (Writ Petition (M/S) No. 1378 of 2021) dealt with an issue where the petitioner filed a writ petition seeking a writ, order, or direction in the nature of certiorari and call for the record of the case and quash the impugned Recovery notice issued by respondent no. 2. Also, issue a writ, order or direction in the nature of mandamus directing the respondent to permit the petitioner to deposit the due loan amount in the installment.
In the present case, the counsel for the petitioner submitted that the petitioner was ready and willing to pay the entire outstanding loan amount to the Bank. However, he would need some time for the purpose. However, the counsel for the respondent submitted that the petitioner took a loan of ₹4.00 lakh in the year 2013 for commercial purposes. Due to consistent default, the respondents had to proceed with the recovery of the outstanding loan amount. The council for the respondent also stated that the petitioner had not complied with the order as he had not deposited the amount as indicated in the order of this Court. The petitioner had only deposited a small amount and he never turned up to deposit the rest of the amount.
The court observed- “Since petitioner has not deposited the amount in terms of the order passed by coordinate Bench of this Court, therefore, he does not deserve any sympathy or indulgence of this Court”. Thereby the writ petition failed and was dismissed.