Sadasiba Mishra v. Ao, Pnb, Bbsr

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.7967 of 2022 Sadasiba Mishra .... Petitioner Mr. H. N. Mohapatra, Advocate -versusAuthorized Officer, Punjab National Bank, Circle Sastra Centre, Ashok Nagar, Bhubaneswar, District-Khurda & Another .... Opp. Parties Mr. Gurudutta Kar, Advocate for the Bank

CORAM:

JUSTICE JASWANT SINGH JUSTICE M.S. RAMAN ORDER (Oral) 12.10.2022 Order No.

05.

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

Petitioner is the proprietor of M/s. Nilakantha Handicrafts, Bali Sahi Puri, who had availed a Cash Credit facility with a limit of Rs.7,00,000/- from United Bank of India, Swargadwara Branch, Puri on 28th October, 2010. The said Bank subsequently stated to have merged with Punjab National Bank. 2.

Due to non-servicing of the account, it was classified as NPA on 31st March, 2021 leading to issuance of a Demand Notice dated 26th October, recalling an outstanding liability of Rs.10,48,690/- due as on 30th September, 2021. The petitioner claims to have filed his objections under Section 13(3A) of the SARFAESI Act, 2002 (for short,

// 2 // "the Act, 2002") which were not decided, however, the Bank proceeded to assume symbolic possession of the secured asset vide notice dated 5th March, 2022 issued under Section 13(4) of the Act, 2002. Hence, the present Writ Petition on the ground that impugned Possession Notice could not be passed without first deciding his objections and communicating the reasons to the petitioner.

3.

At the time of hearing, learned counsel for the petitioner prays for permission to withdraw the Writ Petition as negotiations with the Bank for amicable settlement are undergoing.

4.

In view of the above, the Writ Petition is dismissed as withdrawn.

(Jaswant Singh) Judge (M.S. Raman) Judge Sipun 12th October, 2022 Cuttack