Nakula Nayak v. Reserve Bank Of India

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.3236 of 2015 Nakula Nayak .... Petitioner Mr. B. M. Sarangi, Advocate -versusBranch Manager, Shriram Equipment Finance Co. Ltd.

.... Opp. Party None

CORAM:

JUSTICE JASWANT SINGH JUSTICE M.S. RAMAN ORDER (Oral) 02.08.2022 Order No.

06.

1.

This matter is taken up through hybrid arrangement (virtual/physical mode).

2.

Petitioner is a defaulting borrower of a loan availed from Shriram Equipment Finance Company Limited, Chandikhole, District-Jajpur (Opposite Party No.1) for purchasing a Truck bearing Registration No.OR-04-M-7633.

3. By filing the present Writ Petition, the prayer made is for directing the Finance Company to proceed in the light of the procedure prescribed under the SARFAESI Act, 2002 for recovery due to default in payment of installments rather than to take coercive action for seizure of the vehicle/truck.

4. At the time of hearing, learned counsel for the Petitioner states that the present Writ Petition has

// 2 // become infructuous in view of the loan account having been settled and closed.

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

(Jaswant Singh) Judge (M. S. Raman) Judge AKK 2nd August, 2022 Cuttack