M/S.Varmora Marketing,Bbsr v. Ao,Punjab National Bank,Bbsr

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.13246 of 2022 M/s. Varmora Marketing, Bhubaneswar and others ....

Petitioners Mr. Chandan Kumar Rout, Advocate -versusAuthorized Officer, Punjab National Bank, Bhubaneswar ....

Opposite Party Mr. Anjan Kumar Biswal, Advocate for the Bank

CORAM:

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

ORDER (Oral) 29.06.2022 03.

1.

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

M/s.

Varmora Marketing (Petitioner No.1) is a proprietorship firm of Biswajit Mohanty (Petitioner No.2), Sulakhyana Mohanty (Petitioner No.3) and Sanhita Biswal (Petitioner No.4) against whom the recovery process under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 has been initiated, after declaration of the loan account of Petitioner No.1 as NPA on 31st March, 2021. Mahendra Harichandan (Petitioner No.5) is the guarantor of the loan facilities availed by Petitioner No.1. 3.

By filing the present writ petition, grievance is raised qua classification of the loan account of the partnership firm as NPA, and also challenge has been made to the e-auction sale notice dated 14th May, 2022 fixing the auction sale of the mortgaged properties (offered as collateral security) on 31st May, 2022. 4.

At the time of hearing, in view of the auction fixed for the aforesaid date having failed for lack of any intending bidders,

// 2 // counsel for the Petitioners pays for permission to withdraw the writ petition.

5.

Counsel for the Bank has no objection for the same. 6.

Accordingly, the writ petition is dismissed as withdrawn. (Jaswant Singh) Judge (M.S. Raman) Judge Jyostna June, 29th, 2022 Cuttack