Sarat Kumar Mohanty v. Uco Bank,Cuttack

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.6299 of 2022 Sarat Kumar Mohanty and Others .... Petitioners Mr. L. Senapati, Advocate -versusUCO Bank and Another .... Opp. Parties Mr. B. N. Udgata, Advocate for the Bank

CORAM:

JUSTICE JASWANT SINGH JUSTICE M.S. RAMAN ORDER (Oral) 28.07.2022 Order No.

03.

1.

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

2. Petitioner No.1 (Sarat Kumar Mohanty) and Petitioner No.2 (Asima Mohanty) are the co-borrowers of three loan facilities availed from UCO Bank, Cuttack Main Branch and to secure the said loans, Petitioner No.3 (Sweta Mohanty) has stood as guarantor by mortgaging the property owned by her.

3. Due to financial indiscipline, the three loan accounts have been classified as NPA on 31st March, 2021 and a Demand Notice issued under Section 13(2) of the SARFAESI Act, 2002 (for short, "the Act, 2002") on 22nd July, 2021 recalling the total outstanding liability of Rs.4,47,040.53/- in all the three loan accounts due as on 31st March, 2021.

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4. At the time of hearing, learned counsel for the Bank states that a sum of Rs.1,40,000/- would be required to be paid for upgrading all the three loan accounts as requested by the learned counsel for the Petitioners on the previous date.

Learned counsel for the Petitioners prays for permission to withdraw the Writ Petition to enable the Petitioners to approach the Bank and seek their available remedies in accordance with law.

5. In view of the above, the Writ Petition is dismissed as withdrawn with the aforesaid liberty.

(Jaswant Singh) Judge (M. S. Raman) Judge AKK 28th July, 2022 Cuttack