The court recognized the petitioner's right to seek an OTS settlement and allowed the withdrawal of the writ petition to facilitate the consideration of the offer by the bank.

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.31307 of 2022

M/s. Katwari Enterprises

….

Petitioner

Mr. Ansuman Bhuyan, Advocate

-versus-

Chief Manager, UCO Bank,

Brajarajnagar Branch, Dist-

Jharsuguda and Another

….

Opp. Parties

None

CORAM:

JUSTICE JASWANT SINGH

JUSTICE M.S. SAHOO

Order No.

ORDER (Oral)

02.01.2023

(Hybrid Mode)

01.

1.

The petitioner is a defaulter in many loan

accounts/facilities

availed

from

UCO

Bank,

Brajarajnagar Branch, Dist- Jharsuguda and facing

recovery process under the SARFAESI Act, 2002 for

an aggregate outstanding liability of Rs.18,69,250.72

due as on 31.03.2021 i.e. the date of classification of

the accounts as NPA culminating into an issuance of

demand notice dated 17.05.2022.

2.

By filing the present Writ Petition, a challenge

has been laid to the sale notice dated 08.11.2022

putting the mortgaged property for auction sale on

25.11.2022; with further direction to the Bank for

// 2 //

Page 2 of 2

arriving at an amicable settlement under the

prevailing OTS scheme.

3.

At the time of hearing, learned counsel for the

petitioner prays for permission to withdraw the

present Writ Petition in view of offer submitted by the

petitioner

for

an

OTS

settlement

pending

consideration by the Bank.

4.

In view of the above, the Writ Petition is

dismissed as withdrawn.

(Jaswant Singh)

Judge

(M.S. Sahoo)

Judge

Basudev 2^nd January, 2023

Cuttack