Brundaban Srichandan v. Chairman, Odisha Gramya Bank, Bbsr

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P (C) No. 26657 of 2021 Sri Brundaban Srichandan ....

Petitioner Mr. Achyutananda Pattnaik, Advocate -versusChairman, Odisha Gramya Bank & Others ....

Opposite Parties Mr. Tuna Sahu, Advocate for Bank

CORAM:

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

ORDER(Oral) 04.04.2022 03.

1.

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

The Petitioner is a defaulting borrower of Cash Credit limit of Rs.30.00 lakhs availed on 14th February, 2015 with interest at the rate of 11.5% with monthly rests of M/s. Maa Sidheswari Bhandar, his sole proprietorship concern. Due to financial indiscipline, the loan account was declared as NPA on 30th June, 2019. On 18th February, 2020, the demand notice U/s 13(2) of the SARFAESI Act, 2002 was issued recalling a sum of Rs.22,63,608 lakhs as on 13th February, 2020. Consequently the symbolic possession notice U/s 13(4) of the SARFAESI Act, 2002 was issued on 21st August, 2021.

Vide order dated 16th February, 2022, this Court had directed the Petitioner to deposit a sum of Rs.7.00 lakhs and furnish an undertaking to deposit the remaining P.T.O.

// 2 // balance(approximately Rs.21.00 lakhs) within next four months, on the plea of grant of sometime to clear the outstanding liability. The direction of payment of Rs.7.00 lakhs as upfront money to prove the bonafides has not been complied with.

3.

When the matter is taken up today, the counsel for the Petitioner filed a Memo seeking leave to withdraw the writ petition as not pressed.

4.

In view of the above, the writ petition is allowed to be withdrawn as not pressed.

(Jaswant Singh) Judge (M.S. Raman) Judge Laxmikant April 4 , 2022 Cuttack