IN THE HIGH COURT OF JUDICATURE AT PATNA CWJC No.12458 of 2008 SRI OM PRAKASH PANDEY Versus THE UNION OF INDIA & ORS ----------- 02 17.09.2008 The petitioner had taken a cash credit facility from the respondent-Madhya Bihar Gramin Bank and then two term loans of Rs. 5 lakhs each. It appears that the petitioner defaulted in honoring his commitments and as such proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 were initiated and notices issued to the petitioner. The first contention of petitioner is that he was not furnished details of account and the two term loans were merged. His second contention was that he was entitled to waiver of interest in terms of Agriculture Waiver/Debt Relief Scheme-2008 of the Central Government. The Bank has rejected the contention, so far as, debt relief is concerned and insisted on payment of balance outstanding. Now, notices in terms of Section 13 (4) of the SRFAESI Act have been issued. Having heard the learned counsel for the petitioner and learned counsel for the Bank, so far as, debt relief scheme is concerned, the Bank, in my view, has rightly rejected the application of the petitioner, inasmuch as, the said scheme applies to small marginal and other farmers or in course of their agricultural operation take additional loans for certain other purposes including dairy. Petitioner, admittedly, is not either a small marginal or other farmers as defined under the scheme and even though his loan was for dairy business, he is not - 2 - eligible person for the debt relief or the debt waiver. However, this does not absolve the respondent-Bank from furnishing full particulars of the banking transactions to its constituent, the petitioner. Before a person can be asked to pay up any amount he must be told and explain his account. It must be remembered that the constituents are not all literate or at least literate in accountancy, as Bank officials. A person may have a large dairy business but that does not mean that he is fully conversant in intricacies of accounting procedure. Thus, I find that the Bank is bound to disclose complete account to the petitioner under all heads immediately. On the accounts under all heads have fully given to the petitioner. Petitioner will have 15 days time to raise any objection, which would then be considered by the Bank and final amounts due have to be disclosed to the petitioner. Petitioner then undertakes to pay the entire dues. Once accounts are quantified in the process above, it would be open to the petitioner to approach the Bank with scheme for liquidating the debts, which the Bank would consider taking into account the fact that the petitioner runs dairy business. Till such time these exercises are done, the respondent-Bank would not precipitate the matter any further. With this observations and directions, the writ petitioner stands disposed of. Trivedi/ (Navaniti Prasad Singh,J.)