Calcutta High CourtWPA/186/2021dismissed

Eswar Rao v. Andaman And Nicobar State Cooperative Bank

2021-12-14Hon'Ble Justice Debangsu Basak2 pages

IN THE HIGH COURT AT CALCUTTA

CIRCUIT BENCH AT PORT BLAIR ...

WPA/186/2021 IA NO: CAN/1/2021 Eswar Rao ... Petitioner Vs.

The Andaman and Nicobar State Cooperative Bank ... Respondent Mr. Lokesh Chezian, Advocate ... for the respondent December 14, 2021 [GNC] Item No. 27 None appears for the petitioner.

The matter is pending for a considerable period of time. The writ petition was taken up for consideration on December 10, 2021 when noticing that none appeared for the petitioner, one last opportunity was granted to the writ petitioner. The writ petitioner was taken up yesterday also, when none appeared for the petitioner.

The respondent is represented.

The petitioner assails the letter dated August 14, 2019 by which, the Deputy Registrar of the Cooperative Societies rejected a prayer for one time settlement made by the petitioner. The petitioner also seeks an interim order of stay of a notice issued by the Cooperative Bank under section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

Learned advocate appearing for the Cooperative Bank submits that against an order passed by the Registrar of Cooperative Societies, the petitioner preferred an appeal and that such appeal is pending.

Discretion to accept or reject the one time settlement lies with the creditor. In the present case, the Cooperative Bank cited absence of the provisions of one time settlement in the Byelaws of the Cooperative Bank as a reason for not considering the one time settlement proposal of the petitioner.

The petitioner cannot seek a restrain a creditor from invoking the provisions of Act of 2002 when such creditor is entitled to do so.

So far as the provisions of the Act of 2002 is concerned, the petitioner possesses alternative statutory remedies which are effective.

In such circumstances, no interference by the Writ Court is called for.

WPA/186/2021 and the connected application being CAN/1/2021 are dismissed.

(Debangsu Basak, J. )