Jainco Projects (India) Limited v. Uco Bank And ANR

OD-3 ORDER SHEET WPO No.107 of 2025

IN THE HIGH COURT AT CALCUTTA

CONSTITUTIONAL WRIT JURISDICTION ORIGINAL SIDE JAINCO PROJECTS (INDIA) LIMITED VS UCO BANK & ANR.

BEFORE

THE HON'BLE JUSTICE AMRITA SINHA Date: 21st February, 2025.

Appearance:

Mr. Debasis Mitra, Adv.

Mr. Tanupriyo Roy, Adv.

For the petitioner.

Ms. Antalina Guha, Adv.

Ms. Rituparna Sanyal, Adv.

For the UCO Bank.

1.

The petitioner being the borrower of the bank intends to avail the benefit of the Circular published by the UCO Bank for extension of existing non-discretionary and non-discriminatory Special one-time settlement scheme dated 27th July, 2021. The validity of the scheme was up to 31st March, 2022. The petitioner alleges that it was not aware of the scheme and, accordingly, could not apply within the proper time.

2.

Prayer has been made to direct the bank to consider the proposal of the petitioner for one-time settlement in accordance with the said Circular.

3.

Learned advocate representing the bank refers to the communication made by the bank to the learned Counsel representing the petitioner in December, 2024 clearly mentioning that the petitioner was not eligible under the scheme for compromise.

4.

It has been brought to the notice of the Court that proceeding under SARAFESI Act is pending consideration before the learned Debts Recovery Tribunal.

5.

As it appears that proceeding is pending consideration before the Tribunal as such, the Court is not inclined to entertain the instant writ petition. It will be open for the petitioner to raise all issues before the said Tribunal.

6.

The writ petition stands dismissed.

7.

Urgent Photostat certified copy of this order, if applied for, be supplied to the parties, upon compliance of all legal formalities. (AMRITA SINHA, J.) nm.