Prasanta Kumar Majhi v. Regional Manager, Rbi, Bbsr
IN THE HIGH COURT OF ORISSA AT CUTTACK
WP(C) No.3846 of 2022 Prasanta Kumar Majhi.
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Petitioner -versusRegional Manager, Reserve Bank of India, Bhubaneswar & another.
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Opposite Parties
CORAM:
THE JUSTICE S.PUJAHARI
ORDER
29.04.2022 04.
1. This matter is taken up through Hybrid mode. Order No.
2. Heard leaned counsel for the Petitioner and the learned counsel for the Opposite Party No.2-Financier.
3. As it appears, the Petitioner in this case has prayed for a direction to the Finance Company-Opposite Party No.2 not to seize the vehicle bearing registration number OD-05-AR-5550 on payment of 50% of the outstanding amount. Learned counsel for the petitioner also submits that the petitioner is ready and willing to pay 50% of the outstanding amount in respect of his vehicle bearing registration No.OD-05-AR-5550 and, as such, necessary direction may be passed not to seized the vehicle, to which the learned counsel appearing for the opposite party no.2-Financier has no objection.
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4. From the materials on record, it appears that the aforesaid vehicle was financed by the Financier-Opposite Party No.2. However, due to non-payment of the outstanding amount in respect of the said vehicle, attempt was made by the FinancierOpposite Party No.2-financer to repossess the same. Now the Petitioner is ready and willing to deposit 50% of the outstanding amount, so also @ 10% of the rest of the 50% amount on every month with regular installment hereinafter and on that condition, learned counsel for the petitioner submits not to seize the vehicle of the petitioner.
5.
Considering the aforesaid facts and the submissions made, this Court directs the opposite party no.2-financier not to seize the vehicle of the petitioner provided he deposits 50% of the outstanding amount through an account payee bank draft with the Financier-Opposite Party Nos.2 and 3 within twenty days hence and thereafter undertakes to pay regular installment along with 10% of the rest 50% of the outstanding amount, every month hereinafter.
6.
Needless to say that failure on the part of the Petitioner to comply with the aforesaid direction of this Court shall entail repossession of the vehicle by the Financier-Opposite Party No.2 in the manner known to law. The Petitioner shall also make the vehicle available for inspection of the FinancierOpposite Party No.2 as and when required by the Finance Company and keep the vehicle in good running condition.
// 3 // Failure to the aforesaid condition shall expose the Petitioner to the contempt jurisdiction of the Court.
7.
With the aforesaid order, this writ petition stands disposed of.
8.
Urgent certified copy of this order be granted on proper application.
(S. Pujahari) Judge MRS