Rezwana Begum v. The Bm, Axis Bank Ltd. Paradeep Branch

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.33071 Of 2021 (Through hybrid mode) Rezwana Begum ....

Petitioner Mr. S.K. Tripathy, Advocate -versusThe BM, Axis Bank Ltd. Paradeep Branch ....

Opposite Parties Mr. S. Sourav, Advocate CORAM: JUSTICE ARINDAM SINHA Order No.

ORDER

18.04.2022 3.

1.

Mr. Tripathy, learned advocate appears on behalf of petitioner and submits, his client had taken loan to purchase vehicle. There was default. He submits there be direction upon the bank to allow petitioner restructuring of the loan so that she can repay it in installments upon paying some money upfront.

2.

Mr. Sourav, learned advocate appears on behalf of the bank and submits, the loan was recalled. Arbitration reference was sought by his client, in which petitioner, inspite of notice, did not appear. Award is awaited.

3.

Petitioner may approach the bank with her proposal of upfront payment and restructuring of the loan, for the balance to be repaid by installments. The bank will consider the proposal and inform petitioner

// 2 // its acceptance or further requirements. Court fox that parties with the above. Since the bank has already caused a reference and petitioner has expressed intention of working things out with it, in event petitioner approaches the bank within 29th April, 2022, till 16th May, 2022 thereafter, the bank is restrained from taking possession of the vehicle.

4.

With above observation and direction, the writ petition is disposed of.

(Arindam Sinha) Judge Sks