M/S.Om Poultry,Ganjam v. Chief Manager/Ao ,Union Bank Of India,Ganjam

IN THE HIGH COURT OF ORISSA AT CUTTACK

WP(C) No.1000 of 2022 ....

Petitioner M/s. Om Poultry represented through its proprietor:

Pramod Kumar Panda, Ganjanm Mr. Amitav Tripathy, Advocate -versusChief Manager/Authorized Officer, Union Bank of India, Regional Office, Ganjam and another ....

Opp. Parties Mr. A. K. Mishra-2, Advocate for the Bank

CORAM:

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

ORDER (Oral) 15.02.2022 02.

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

2. The Petitioner is a proprietorship concern of Pramod Kumar Panda, who had raised an agricultural term loan for a sum of ₹1,40,00,000 (Rupees One Crores Forty Lakhs only) on 31.01.2016 from Union Bank of India, Gosani Naugaon, Berhmapur. Due to financial indiscipline, the loan account was declared NPA on 31.03.2021. Demand notice under Section 13(2) of the SARFAESI Act, 2002 (in short the 'Act, 2002') was issued on 06.04.2021 recalling the outstanding amount of ₹71,84,831.09 due as on 31.03.2021.

// 2 // Symbolic possession under Section 13(4) of the Act, 2002 was assumed on 23.09.2021. The sale notice dated 20.12.2021 was issued fixing the auction of mortgaged property for 20.01.2022.

3. By filing the present petition, challenge is being laid to the aforesaid auction as also prayer is made for directing the Bank to settle the loan account under OTS scheme.

4. Counsel for the Bank states that the auction fixed for 20.01.2022 has failed due to lack of any bidder and there is no prevailing OTS policy under which an amicable settlement could be effected.

5. At the time of hearing Mr. Amitav Tripathy, counsel for the Petitioner prays for an unconditional withdrawal of the writ petition.

6. In view of the above, the writ petition is disposed of as withdrawn.

(Jaswant Singh) Judge (M. S. Raman) Judge February 15th 2022 Cuttack AKPradhan