Usha Projects (India) Pvt. Ltd.,Bbsr v. Canara Bank, Bbsr

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.15403 of 2022 USHA Projects (India) Pvt.

Ltd. & Another .... Petitioners Ms. Swadha Rath, Advocate -versusCanara Bank, Damana Square, Chandrasekharpur, Bhubaneswar, DistrictKhurdha & Others .... Opp. Parties Mr. B. N. Udgata, Advocate for the Bank

CORAM:

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

ORDER (Oral) 13.10.2022 04.

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

The petitioners have challenged the sale of the collateral securities by the secured creditor-Canara Bank in favour of Mrs. Suryamani Sahoo/Opposite Party No.2 vide Sale Certificate dated 3rd March, 2022, along with a further prayer for directing the Bank to release the property towards their Right of Redemption. It is apparent that the auction sale of one of the secured asset was successfully conducted on 15th February, 2022 in favour of Opposite Party No.2 for a sum of Rs.1,83,52,000/- towards the outstanding liability of around Rs.53 Crores as on that date.

2.

At the time of hearing, learned counsel for the petitioners states that they have no instructions to pursue the present Writ Petition.

// 2 // 3.

In view of the above, the present Writ Petition is accordingly dismissed.

The petitioners are free to seek their available remedies before the DRT in accordance with law. (Jaswant Singh) Judge (M.S. Raman) Judge Sipun 13th October, 2022 Cuttack