Madan Mohan Sahoo v. Punjab National Bank,Puri

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P. (C) No.3514 of 2022 Sri Madan Mohan Sahoo ....

Petitioner Mr. P. Ku. Mohapatra, Advocate -versusPunjab National Bank, Swargadwar Branch, Puri & Others ....

Opp.Parties Mr. Gurudatta Kar, Advocate (for Bank)

CORAM:

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

ORDER (Oral) 22.02.2022 02.

1.

This matter is taken up by virtual/physical mode. 2.

The Petitioner had availed a cash credit loan to the limit of Rs.8.00 lakhs from Punjab National Bank, Swargadwar Branch, Puri-Opposite Party No.1 on 29th November, 2013. The limit was subsequently enhanced to Rs.13.00 lakhs. Due to lack up financial discipline, the loan account was declared NPA on 31st March, 2021. 3.

The challenge herein is laid to the demand notice dated 29th July, 2021 issued under section 13(2) of the SARFAESI Act, 2002 recalling the outstanding liability of Rs.16,74,948.78 due as on 30th June, 2021.

4.

At the time of hearing, Mr. Gurudatta Kar, Advocate appearing for the Bank upon advance notice states that the Bank is in the process of withdrawing the demand notice so as to proceed P.T.O.

// 2 // afresh in accordance with law. The present petition thus has become infructuous.

In response, counsel for the Petitioner in the light of the stand of the Bank concedes that nothing more would survive for adjudication in this writ petition.

5.

In view of the aforesaid, the writ petition is disposed of as infructuous.

Issue urgent certified copy as per rules.

(Jaswant Singh) Judge (M.S. Raman) Judge Aks February 22nd, 2022 Cuttack