Advocates:
['M/S BIBEKA MOHANTI', '', 'C R DASH', 'S K JENA', 'B K MAHANTI', 'N R MOHANTY', 'S K MISHRA', 'MAMATA ROUL', 'P K ROUTRAY']

16. 08.08.2018

This writ application has been filed with a prayer to direct

the Orissa State Financial Corporation, Cuttack (OSFC), the

opposite party no.1 to condone the delay and accept the

petitioner9s payment under their One Time Settlement order

dated 10.03.2010.

Heard Mr.B.K.Mohanty, learned Senior Advocate for the

petitioner and Mr.P.K.Routray, learned counsel for the OSFC.

The petitioner, being the loanee, had earlier approached

this Court by filing a writ application, i.e, W.P.(C) No.16417 of

2010.

The prayer therein was to quash the loan recall notice

issued by the OSFC and the order of the OSFC rejecting the

prayer of the petitioner for extension of the benefit of One Time

Settlement in terms of the proposal given by him.

By order dated 16.03.2011, the above noted writ

application has been disposed of. The relevant part of the order

is as follows:

<

xx

xx

xx

xx

xx

xx

xx

xx

4.

The fact remains that under the OTS referred to

supra, the said amount could not be settled as per the

terms and conditions stipulated in the OTS order.

Though there were three default cases and the

petitioner is before this Court stating that OTS amount

could not be settled within the time stipulated for the

reasons stated in the writ petition, therefore, the

petitioner requests this Court to extend the time and

reschedule the payment as per calculations produced

today along with the Misc. Case and direct the OSFC to

accept the same as OTS and further prays for a

direction to refund the excess payment made to OSFC.

5.

In the aforesaid facts situation, we cannot

consider this prayer. The petitioner is at liberty to file a

W.P.(C) No.15808 of 2011

representation before the OSFC in this regard. If such a

representation is filed, the OSFC shall consider and

dispose of the same keeping in view the terms and

conditions stipulated in the OTS. Facilities may be

extended to the petitioner after carefully examining the

terms and conditions indicated under the OTS order.

After passing of the above order, the petitioner filed a

representation for it9s consideration and disposal by the OSFC

keeping in view the terms and conditions stipulated in its One

Time Settlement Scheme. The petitioner on 8.4.2011 had

submitted that application to the OSFC under Annexure-1. For

better appreciation, the relevant paragraphs of the application

as well as the prayer made therein are quoted hereunder:

<xx

xx

xx

xx

xx

xx

xx

xx

xx

xx

You may kindly observe from the detail calculations

enclosed that we have made a total payment of

Rs.1,76,03,450-/as against your final total dues of

Rs.1,62,22,039/- calculated as per the above order of

the Hon9ble High Court. Thus, we have paid an excess

amount of Rs.13,81,411/-.

You are aware that, out of above payment of

Rs.1,76,03,450/-, an amount of Rs.1,16,43,700/- was

paid by us as per the interim order of Hon9ble High

Court dated 21/02/2011 without prejudice to our rights

under the case. Hence, the excess payment of

Rs.13,81,411/- based on final order of the Hon9ble High

Court.

Further, you may kindly note that for the

defaulted amounts of OTS, we have applied interest @

13.5% for calculation of interest on the defaulted

installments as per the provision 12(B) (b) of the MFD-

OTS 2007 Scheme. The penal interest of 2% as

provided for in 12(B) (c) of the scheme, if applicable,

may not be charged considering our substantial advance

payments made towards OTS during the period from

August 2005 to March 2008.

We would now request you to kindly:

a)

effect final closure of our Loan accounts and issue

No Dues Certificate in respect of these accounts.

b)

Revoke sec. 29.30 of SFC Act.

c)

Refund the above mentioned excess advance

payment of Rs.13,81,411/-.

d)

Release all our security documents and file

Satisfaction of Charge

with Registrar of Companies,

Orissa.=

This application of t