M/S.Om Trade Agency v. Regional Manager, Axis Bank

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.39239 of 2021 M/s. Om Trade Agency ....

Petitioner Mr. Santosh Kumar Mahanty, Advocate -versusRegional Manager, AXIS Bank, At-Archbishop's House, Satyanagar, Bhubaneswar and another ....

Opp. Parties None

CORAM:

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

ORDER (ORAL) 10.05.2022 04.

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

2. Petitioner is a proprietorship concern of Rajesh Kumar Behera, which had availed a Cash Credit facility in the year 2015 for a sum of ₹40 lakhs from the AXIS Bank, Daspalla Branch, District-Nayagarh. It appears that for non-servicing of the account, the account was declared NPA and recovery process under the SARFAESI Act, 2002 was initiated.

3. By filing the present writ petition, a mandamus is sought for directing the Bank to consider the OTS application dated 11.08.2021 (Annexure-2).

4. At the time of hearing, learned counsel for the Petitioner filed a Memo seeking unconditional withdrawal of the writ petition in view of the fact that the account has since been regularized. The Memo be kept on record.

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5. In view of the Memo filed, the writ petition is dismissed as withdrawn.

(Jaswant Singh) Judge (M.S. Raman) Judge May 10th, 2022 Cuttack AKK