Authority: Supreme Court (Special Lok Adalat)
Order Date: 23-08-2026
Case Overview
- Parties: Petitioner C. Mohan vs. Authorized Officer of Allahabad Bank & others.
- Nature of Proceeding: Petition seeks permission to pay an additional Rs 20 lakh (on top of Rs 13 lakh already paid) to the bank and to provide compensation to the auction purchaser in the event of a settlement.
- Proposed Payment: Petitioners offered to deposit Rs 20,94,000 (Twenty Lakh Ninety‑Four Thousand) with the Court Registry within one week.
- Court Action: The matter was referred back to the Court for further instructions on the proposal, acknowledging the petitioner’s willingness to comply.
Final Outcome
- The Court ordered the petitioner to deposit Rs 20,94,000 with the Registry within one week of the order date.
- The deposited amount shall be placed in an interest‑bearing fixed‑deposit account of a nationalised bank for an initial period of six months, subject to automatic renewal.
- In case a settlement is reached between the borrower and the auction purchaser, the amount that the auction purchaser had deposited with the bank shall be returned by the bank to the auction purchaser.
Topics: Banking Litigation, Court Order