ANJANA MISHRA
Sri Kant Singh, S/o Late Nand Kumar Singh – Appellant
Versus
Regional Manager, Canara Bank, Near Income Tax Golamber – Respondent
1. The present writ application has been filed by the petitioner seeking return of his seized tractor as well as other parts and accessories of the tractor, which were illegally taken back by the respondent-Canara Bank, Ara Branch. The petitioner further seeks a direction to the respondent-Bank to restrain them from charging interest for the period after the tractor was so seized.
2. The facts giving rise to the present writ application, briefly stated, are that the petitioner had approached the Ara Branch of the Canara Bank for availing the loan facility for purchase of a tractor and after due execution of the loan documents, which he was called upon to sign, a loan of Rs.3,00,000/- (Three lacs) was extended to the petitioner on the terms and conditions as mentioned in the loan documents executed between the parties.
3. Under the terms of the loan documents/agreement executed by the petitioner, the purchased vehicle was to be hypothecated with the Bank and apart from other terms and conditions detailed therein, it was also agreed upon that the respondent-Bank, acting through its Officers/Agents shall have the liberty to take possession of the hypothecated vehicle and sell
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