Bijaya Mohanty v. Indusind Bank, Mumbai

// 1 //

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.17635 of 2022 (Through hybrid mode) Bijaya Mohanty ....

Petitioner Mr. M. R. Padhi, Advocate Mr. N. Biswal, Advocate -versus- ....

Opposite Parties Indusind Bank, Mumbai and another Mr. P. K. Mishra, Advocate for bank CORAM: JUSTICE ARINDAM SINHA Order No.

ORDER

28.09.2022 04.

1.

Mr. Padhi, learned advocate appears on behalf of petitioner and submits, his client had taken vehicle loan. There was default and the vehicle was taken possession of by the bank. Pursuant to direction made in order dated 29th July, 2022, his client had furnished Demand Draft no.426333 dated 2nd August, 2022 in favour of Indusind Bank, Bajrakabati Road, Buxibazar for Rs.1,00,000/-. He submits, his client is prepared to pay another Rs.1,00,000/-, taking the aggregate to Rs.2,00,000/-, for direction upon the bank to release the vehicle. Thereupon his client will liquidate the arrears in four monthly installments, while continuing to pay current installments. 2.

Mr. Mishra, learned advocate appears on behalf of the bank and

// 2 // submits, only upon receipt of Rs.2,00,000/- his client will release the vehicle.

3.

The Demand Draft is handed over to Mr. Mishra. Petitioner is directed to pay further Rs.1,00,000/- to the bank by 30th September, 2022. The bank on receipt of aggregate Rs.2,00,000/- will forthwith, on that date release the vehicle. Petitioner will thereafter, liquidate the arrears in four monthly installments, while continuing to pay current installment falling due.

4.

The writ petition is disposed of.

(Arindam Sinha) Judge Prasant