Bijay Kumar Das v. Uco Bank,Kolkata

IN THE HIGH COURT OF ORISSA AT CUTTACK

WP(C) No.229 of 2022 Bijay Kumar Das ....

Petitioner Mr. Kabi Ranjan Mohanty, Advocate -versusUCO Bank, its Head Office at 10, BTM Sarini, (Brahourne Road), Kolkata, West Bengal and Others ....

Opp. Parties Mr. A. N. Dash, Advocate for Bank

CORAM:

JUSTICE JASWANT SINGH JUSTICE M. S. RAMAN Order No.

ORDER (ORAL) 04.04.2022 05.

1. This matter is taken up by virtual/physical mode.

2. The Petitioner is a defaulting borrower in Cash Credit loan account for a sum of ₹30 lakhs and a Term Loan account for a sum of ₹6 lakhs availed from UCO Bank, Bajrakabati, Cuttack.

3. Due to default in servicing the account/payment of installments, the accounts were classified as NPA on 21.08.2021. Thereafter, recovery process was initiated under the SARFAESI Act, 2002, which is subject matter of challenge in the writ petition.

4. At the time of hearing, counsel for the Petitioner states that upon deposit of entire outstanding amount

// 2 // in respect of both the loan accounts, the said loan accounts stands closed on 14.03.2022 & 16.03.2022 and the original documents in respect of the secured assets released to the Petitioner on 17.03.2022.

5. In view of the above circumstances, the present writ petition is dismissed as infructuous.

(Jaswant Singh) Judge (M. S. Raman) Judge April 4th 2022 Cuttack AKPradhan