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2026 DAILYLAW 9686 (UTT)

BRAHAM SWARUP AGARWAL v. PUNJAB NATIONAL BANK

WPMS/2444/2026 · 2026-08-18

Manoj Kumar Tiwari

body2026

Judgment text

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UKHC010142312026 2026:UHC:7412 SL. No. Date Office Notes, reports, orders or proceedings or directions and Registrar’s order with Signatures COURT’S OR JUDGE’S ORDERS WPMS/2444/2026 Braham Swarup Agarwal --Petitioner Versus Punjab National Bank --Respondent Hon’ble Manoj Kumar Tiwari, J 1. Ms. Prabha Naithani, learned counsel for the petitioner. 2. Mr. Ashish Joshi, learned counsel for the respondent-bank is connected virtually. 3. Petitioner took a home loan from Punjab National Bank, Yamuna Colony Branch, Dehradun in the year 2020. Since petitioner defaulted in repayment of loan, therefore, bank has invoked its power under SARFAESI Act, 2002 by issuing notice for symbolic possession of the secured asset. Thus, feeling aggrieved, petitioner has approached this Court. 4. Learned counsel for the petitioner submits that petitioner is ready and willing to repay the loan; the outstanding amount as on 18.08.2026 is ₹15,58,801.28; petitioner would deposit ₹4.00 lakh with the Bank within two weeks and he may be permitted to repay the remaining amount in six monthly installments. 5. Mr. Ashish Joshi, learned counsel UKHC010142312026 2026:UHC:7412 appearing for the Bank submits that petitioner can be given some accommodation provided he deposits a sum of ₹4.00 lakh positively with the concerned Branch Manager on or before 02.09.2026. 6. In view of concession made by learned counsel for the parties, the writ petition is disposed of in terms of the following directions:- (i) Petitioner shall deposit ₹4,00,000/- with the Branch Manager – Punjab National Bank, Yamuna Colony Branch on or before 02.09.2026. (ii) The remaining amount shall be deposited by the petitioner in five equal monthly instalments; the amount whereof shall be fixed by the Branch Manager of the concerned Bank. (iii) The last instalment shall also carry interest & other charges, if any. (iv) Subject to fulfilment of the aforesaid conditions by the petitioner, no coercive action shall be taken against the petitioner for a period of six months. In case of any default by the petitioner, he shall not be entitled to protection of this order and respondent/Bank will be free to proceed against him, in accordance with law. (Manoj Kumar Tiwari, J) 18.08.2026 Aswal NITI RAJ SINGH ASWAL Digitally signed by NITI RAJ SINGH ASWAL DN: c=IN, o=HIGH COURT OF UTTARAKHAND, ou=HIGH COURT OF UTTARAKHAND, 2.5.4.20=eacc6757ee7881e933ff8934f07477005aa85f9802a3a08b08d13 69512ea30f3, postalCode=263001, st=UTTARAKHAND, serialNumber=44EB54CBF00B7698CB6F10C2CE3D26F5C22DACF4F4610 C1FE58A58531726FBB0, cn=NITI RAJ SINGH ASWAL Date: 2026.08.20 07:40:57 -07'00'