Sarbeswar Swain v. Bm, Iob, Brahmagiri Branch, Puri

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.17303 of 2022 Sarbeswar Swain .... Petitioner Mr. Trilochan Panigrahi, Advocate -versusBranch Manager, Indian Overseas Bank, Brahmagiri Branch, District-Puri and Another .... Opp. Parties Mr. Aurovinda Mohanty, Advocate for the Bank

CORAM:

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

ORDER (Oral) 14.09.2022 02.

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

Petitioner is a defaulter facing recovery process under the SARFAESI Act, 2002 in a Home Loan account classified as NPA on 30th September, 2021. By filing the present Writ Petition, a prayer has been made for directing the Indian Overseas Bank, Bharmagiri Branch, Puri to settle the outstanding liability of Rs.3,18,495.56/- as on 3rd February, 2020 under the prevailing OTS Scheme.

2.

Learned counsel for the Bank appearing on advance notice and submits that there is no OTS Policy available in a Home Loan account. However upon deposits of certain amounts by the petitioner in the month of June and July, 2022, the Bank has

// 2 // already upgraded the Housing Loan account to a standard account thereby rendering the present Writ Petition as infructuous.

3.

In view of the aforesaid stand, learned counsel for the petitioner does not press this Writ Petition. In view of the above, the Writ Petition is dismissed as not pressed.

(Jaswant Singh) Judge (M.S. Raman) Judge Sipun 14th September, 2022 Cuttack