Ajaya Kumar Satapathy v. Odisha Gramya Bank, Jagamara, Bbsr

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.7397 of 2022 Ajaya Kumar Satapathy ....

Petitioner Mr. Anjan Kumar Biswal, Advocate -versus- Odisha Gramya Bank, Jagamara, Bhubaneswar and others ....

Opp. Parties Mr. Tuna Sahu, Advocate for the Bank

CORAM:

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

ORDER (Oral) 21.04.2022 01.

1.

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

The Petitioner is a defaulting borrower of a term loan (agriculture) availed for a sum of Rs.2.00 lakhs in the year 2006 from the Odisha Gramya Bank. To secure the loan, the stated residential house was offered as a collateral security. The loan account was declared as NPA on 27th March, 2008. However, the demand notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, 'the Act, 2002') recalling an outstanding amount of Rs.9, 14, 528/- was issued on 23rd December, 2021.

3.

Challenge in the instant writ petition has been laid to the demand notice dated 23rd December, 2021 (Annexure-2) and the memo dated 23rd February, 2022 rejecting the offer made by the Petitioner for One Time Settlement of the loan. 4.

At the time of hearing, realizing that the writ petition to challenge the aforesaid is not maintainable, counsel for the Petitioner prays for permission to withdraw the writ petition to

// 2 // enable the Petitioner to pursue his remedy for One Time Settlement as per the Policy by offering the better proposal. 5.

Accordingly, this writ petition is dismissed as withdrawn with the aforesaid liberty.

Issue urgent certified copy as per rules.

(Jaswant Singh) Judge (M.S. Raman) Judge Jyostna April 21st, 2022 Cuttack