Seshadev Malik v. Indusind Bank Ltd.

IN THE HIGH COURT OF ORISSA AT CUTTACK

WPC No.4765 of 2022 ....

Petitioner Seshadev Malik Mr. Gourav Mohanty, Advocate -versusIndusind Bank Ltd.

represented through its Chief Manager & Authorized Officer, Jajpur and Others ....

Opp. Parties Ms. Bhaktilata Bal, Advocate for OP Nos. 1 & 2

CORAM:

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

ORDER (Oral) 23.02.2022 04.

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

2. The Petitioner in the present case has challenged the Notice under Section 13(2) and Section 13 (4) of SARFAESI Act, 2002 issued by Opposite Party 1/Bank.

3. The Petitioner availed a commercial vehicle loan for purchase of a Truck bearing Registration no. OD-04L9166 on 24.09.2018. The petitioner was able to regularly pay the monthly installments for few years. However, he started defaulting from the year 2020. Consequently, the loan account was declared NPA on 01.12.2021 with an outstanding amount of

// 2 // Rs.1,87,714/-. Further, the Opposite Parties took possession of the Truck on 23.12.2021 and the same still is in their possession.

4. Counsel for the Petitioner has filed a Memo for withdrawal of the writ petition.

5. Hence, the Writ Petition stands disposed of as withdrawn.

(Jaswant Singh) Judge (M. S. Raman) Judge February 23rd 2022 Cuttack AKPradhan