M/S. Jagabalia Electronics,Angul v. Karnataka Bank Ltd,New Delhi

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.13276 of 2016 M/s. Jagabalia Electronics & Others ....

Petitioners Mr. Basudev Barik, proxy counsel on behalf of Mr. Manoranjan Patra, Advocate -versusKarnataka Bank Ltd. & Another ....

Opposite Parties Mr. S.K. Dash, Advocate for Bank

CORAM:

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

ORDER (Oral) 24.06.2022 21.

1.

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

Petitioner No. 1 is a defaulting borrower of loan facilities availed from Karnataka Bank Ltd., Angul Branch. By filing the present writ, they have challenged the demand notice dated 16th February, 2016 issued under Section 13(2) of the SARFAESI Act, 2002 as also a notice dated 22nd June, 2016 issued under Section 13(4) of the SARFAESI Act, 2002 assuming symbolic possession. 3.

At the time of hearing, counsel for the Petitioner prays for an unconditional withdrawal of the writ petition. A memo to that effect has been filed in Court today, which is taken on record. 4.

Counsel for the Bank states that on payment of the settled loan amount, the loan account has been closed.

// 2 // 5.

In view of the above, the writ petition is disposed of as withdrawn.

Issue urgent certified copy as per rules.

(Jaswant Singh) Judge (M.S. Raman) Judge Aks June 24, 2022 Cuttack