M/S Fizza Network v. Chief Manager, Union Bank, Puri

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.1419 of 2022 M/s. Fizza Network & another ....

Petitioners Mr. Ashok Kumar Mohapatra-1, Advocate -versusChief Manager, Union Bank, Puri & another ....

Opp. Parties Mr. Bhaskar Panda, Advocate for Bank

CORAM:

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

ORDER

11.02.2022 02.

1. This matter is taken up through hybrid mode.

2. The petitioner no.1 is the borrower and the petitioner no.2 is the guarantor. The petitioner no.1 having availed cash credit facility of Rs.10,00,000/- from the Union Bank of India, who have been arrayed as opposite parties in the writ petition, subsequently the petitioner no.1 has availed a term loan of Rs.66,124/-. Due to financial indiscipline, the above two loan accounts were classified as NPA on 24.05.2021. The demand notice dated 24.05.2021 was issued recalling both the loans and the sale notice dated 15.12.2021 was issued for sale of immovable secured assets scheduled to be held on 20.01.2022.

3. Learned counsel for the Bank submits that the scheduled sale could not evoke response from any interested bidders and the learned counsel for the petitioners does not dispute the said fact of lack of response to the sale notice.

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4. In our considered opinion, nothing survives in the present writ petition which challenges the demand notice dated 24.05.2021 as well as the sale notice 15.12.2021.

5. Accordingly, the writ petition is dismissed as infructuous.

(Jaswant Singh) Judge (M.S. Sahoo) Judge February 11th 2022 Cuttack Gs/Radha