The court emphasized the importance of adequate security and considered the peculiar facts and circumstances of the case in allowing the petitioner to make a fresh application for the education loan.

JUDGMENT

Manoj Kumar Tiwari, J. - Petitioner's daughter is pursing B.Sc. Nursing Course. Since petitioner was unable to meet her education expenses, therefore, he applied for education loan with his daughter, to Bank of Baroda, Branch Kamola, District Nainital.

2. Petitioner's request for education loan of Rs. 3,00,000/- has been turned down on the ground that there is low prospect of future income of his daughter, after completing the course and also that her past school record is not encouraging and further that the BKCC Limit of the petitioner maintained at the Bank Branch has not been renewed in time.

3. Learned counsel for the petitioner submits that petitioner has sufficient immovable property to secure the loan. He further submits that he will mortgage the property with the respondent Bank. He further submits that the value of the immovable property would be more than Rs. 25,00,000/-. He further submits that, upon successful completion of B.Sc. Nursing Course, petitioner's daughter will also earn and she shall re-pay the loan from her own earnings.

4. Learned counsel for the respondent-Bank submits that, as per the assessment made by his client, credit rating of the petitioner is poor. However, he submits that if adequate security is given by the petitioner, then the Competent Authority may consider the request made by petitioner.

5. Having regard to the peculiar facts and circumstances of the case, the writ petition is disposed of with liberty to petitioner to make fresh application to Assistant General Manager, Bank of Baroda, Regional Office at Haldwani. If petitioner makes such application to Assistant General Manager within two weeks from today, decision thereupon shall be taken within two weeks thereafter.

6. Let a certified copy of this order be issued to the parties within 24 hours.