Santosh Ku.Biswal v. Rbi,Regional Office

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.19805 of 2013 Santosh Kumar Biswal and Another .... Petitioners Mr. Ranjan Kumar Rout, Advocate -versusReserve Bank of India, Regional Office, Bhubaneswar, DistrictKhurda and Others .... Opp. Parties Mr. Saumendra Kumar Ghose, Advocate for the O.P. No.3/Bank

CORAM:

JUSTICE JASWANT SINGH JUSTICE M.S. RAMAN ORDER (Oral) 11.07.2022 Order No.

04.

1.

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

2.

The defaulting borrower and the guarantor of a Cash Credit facility to the tune of Rs.10 lakhs availed in January, 2006 from Federal Bank Limited, Cuttack Branch, Cuttack are before this Court assailing the recovery process initiated under the SARFAESI Act, 2002.

3.

Learned counsel for the petitioners states that the aforesaid loan account was assigned to the Assets Reconstruction Company/Opposite Party No.2 and upon an amicable settlement and payment of the

// 2 // required amounts, the loan account has since been closed. Hence, it is agreed that the present writ petition has become infructuous.

4.

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

(Jaswant Singh) Judge (M. S. Raman) Judge AKK 11th July, 2022 Cuttack