Meghamala Pati v. Regional Manager Lic Housing Finance Ltd

IN THE HIGH COURT OF ORISSA AT CUTTACK

WP(C) No.2227 of 2022 Meghamala Pati and another ....

Petitioners Mr. Trilochan Dash, Advocate -versusRegional Manager, LIC Housing Finance Limited, Bhubaneswar and Others ....

Opp. Parties NONE

CORAM:

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

ORDER (ORAL) 30.03.2022 03.

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

2. Meghamala Pati (Petitioner No.1) is the wife of Narayan Chandra Panda (Petitioner No.2), who are the defaulting borrowers of housing loan for a sum of ₹90 lakhs availed on 29.01.2017 from LIC Housing Finance Limited, Bhubaneswar/Opposite Party No.1.

3. The loan had to be repaid in 180 equated installments. Due to financial indiscipline, the loan account was declared as NPA and demand notice dated 19.12.2019 under Section 13(2) of the SARFAESI Act, 2002 (in short the Act, 2002') was issued recalling an outstanding amount of ₹50,18,972.76 as on 19.12.2019. Symbolic possession of the mortgaged property offered as a collateral security was assumed on 14.01.2022 by issuance of notice under Section 13(4) of the Act, 2002.

4. By filing the present petition, challenge has been laid to the symbolic possession notice dated 14.01.2022 as also for

// 2 // issuance of a direction for settlement of loan under the OTS scheme.

5. At the time of hearing, Mr. Trilochan Dash, counsel for the Petitioner prays for unconditional withdrawal of the writ petition to pursue his application for amicable settlement under the OTS scheme, if any.

6. In view of the above, the writ petition is dismissed as withdrawn with the aforesaid liberty.

(Jaswant Singh) Judge (M. S. Raman) Judge March 30th 2022 Cuttack AKPradhan