Ruksana Begum v. Rbi,Bbsr

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.16950 of 2014 Ruksana Begum .... Petitioner Mr. Ranjan Kumar Rout, Advocate -versusReserve Bank of India, Regional Office, represented through its Regional Director, Bhubaneswar, DistrictKhurda and Others .... Opp. Parties Mr. Tuna Sahu, Advocate for the Bank

CORAM:

JUSTICE JASWANT SINGH JUSTICE M.S. RAMAN ORDER (Oral) 05.07.2022 Order No.

10.

1.

This matter is taken up through hybrid arrangement (virtual/physical mode).

2.

Petitioner is the proprietor of M/s. Bollywood Garments, which had availed Cash Credit facility to the tune of Rs.25 lakhs on 16th December, 2008 and another term loan for a sum of Rs.20 lakhs on 19th February, 2009.

3.

Due to default in payment of installments/ servicing of the account, recovery process under the SARFAESI Act, 2002 (for short "the Act, 2002") was initiated.

// 2 // 4.

Challenge in the instant writ petition is laid to the notice dated 18th August, 2014 issued under Section 13(4) of the Act, 2002, whereby symbolic possession of the secured asset was assumed.

5.

At the time of hearing, learned counsel for the Bank states that the present writ petition has become infructuous in view of the loan accounts having been settled and closed on 30th September, 2019 upon receipt of the required amount under the sanctioned OTS.

6. In view of the above, the writ petition is dismissed as infructuous.

(Jaswant Singh) Judge (M. S. Raman) Judge AKK 05th July, 2022 Cuttack