Shaktipada Pandey v. Md. Punjab National Bank, New Delhi

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.2859 of 2022 Shaktipada Pandey ....

Petitioner Mr. Prakash Chandra Dash, Advocate -versusManaging Director, Punjab National Bank, New Delhi and Others ....

Opp. Parties Mr. A.K. Nayak, Proxy Counsel on behalf of Mr. S.K. Sarangi, Senior Advocate

CORAM:

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

ORDER (Oral) 31.10.2022 09.

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

The petitioner was a defaulter in a Cash Credit loan account with outstanding liability of around Rs.22 lakhs in the month of March, 2022. The auction of the mortgaged property for recovery of the aforesaid amount was fixed for 17.03.2022.

2.

Upon willingness of the petitioner to deposit the entire amount provided some time was extended, this Court had granted an interim protection subject to deposit of a sum of Rs.11 lakhs with remaining to be deposited in a phased manner.

// 2 // 3.

At the time of resumed hearing today, learned counsel for the parties submit that the present writ petition has become infructuous in view of the required deposits made pursuant to the amicable settlement under the prevailing OTS policy.

4.

In view of the above, the Writ Petition is dismissed as infructuous.

(Jaswant Singh) Judge (M.S. Sahoo) Judge Basudev 31st October, 2022 Cuttack