M/S Srabani Construction Pvt. Ltd. v. Ao, Indian Overseas Bank, Bbsr

IN THE HIGH COURT OF ORISSA AT CUTTACK

WP(C) No. 36093 of 2021 ....

Petitioners M/s. Srabani Construction Pvt. Ltd., represented through its Managing Director, Sibanarayan Chhotray, Bhubaneswar and another Mr. Sougat Dash, Advocate -versusAuthorized Officer, Indian Overseas Bank, Sahidnagar, Bhubaneswar and Others ....

Opp. Parties NONE

CORAM:

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

ORDER (Oral) 03.01.2022 01.

1. This matter is taken up by hybrid mode.

2.

The Petitioner No.1-Sibanarayan Chhotray, proprietor of M/s. Srabani Construction Pvt. Ltd. is a defaulting borrower, whose One Time Settlement (in short 'the OTS') proposal offered for a sum of ₹3,30,00,000 (Annexure-1) towards settlement of outstanding liability of about ₹10,00,00,000 as on 22.01.2020 was never accepted.

3. By filing the present petition, the Petitioner is seeking a mandamus from this Court for directing the Indian Overseas Bank, Sahid Nagar Branch, Bhubaneswar to settle the outstanding loan under the

// 2 // OTS scheme as agreed by the parties under Annexure1.

4. After arguing the matter for sometime, counsel for the Petitioner prays for permission to withdraw the present writ petition.

5. Accordingly, the writ petition is dismissed as withdrawn.

(Jaswant Singh) Judge (M. S. Sahoo) Judge January 3rd 2022 Cuttack AKPradhan