Universal Instrument v. Ao,Oriental Bank Of

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.7132 of 2013 Universal Instruments .... Petitioner Mr. Subhasish Satapathy, Proxy Counsel on behalf of Mr. B. K. Nayak, Advocate -versusAuthorized Officer, Oriental Bank of Commerce, Regional Office, Bhubaneswar and Another .... Opp. Parties Mr. Prabin Das, Advocate for the Bank

CORAM:

JUSTICE JASWANT SINGH JUSTICE M.S. RAMAN ORDER (Oral) 05.09.2022 Order No.

04.

1.

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

2.

Petitioner is a proprietorship concern of Smt. Goparani Panda, who had availed a Cash Credit facility from Oriental Bank of Commerce, Kharavela Nagar, Bhubaneswar (Opposite Party No.2) with a limit of Rs.7 lakhs. The said account was closed in the year 2012.

3. By filing the present writ petition, a direction is sought for the Bank to return the title deeds of the immovable property owned by the proprietress offered as a collateral security in the aforesaid loan account.

4. Learned counsel for the Bank by referring to the Annexures placed on record points out that the aforesaid immovable property was also offered as a collateral

// 2 // security in the three other loans availed by the husband of the petitioner, namely, Sri Umesh Chandra Panda. He further states that the said three loan accounts have since been classified as NPA and recovery process under the SARFAESI proceedings initiated. Thus, the claim for a direction for return of the title deeds is not maintainable.

5. In response, learned counsel for the petitioner is unable to refute the aforesaid factual situation.

6. In view of the above, the writ petition is accordingly dismissed.

(Jaswant Singh) Judge (M. S. Raman) Judge AKK 5th September, 2022 Cuttack