IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C) No.8953 of 2020

Sukadev Swain

….

Petitioner

Mr. Akshaya Kumar Mohapatra, Advocate

-versus-

The Branch Manager, Union

Bank of India, Paradeep

Branch, Dist-Jagatsinghpur

….

Opp.Party

None

CORAM:

JUSTICE JASWANT SINGH

JUSTICE M.S. RAMAN

Order No.

ORDER (Oral)

05.08.2022

04.

1. This matter is taken up through virtual/physical

mode.

2.

The petitioner is a defaulting borrower of a Cash

Credit facility availed in the year 2012 for an amount

of Rs.5,10,000/- from Union Bank of India, Paradeep

Branch. To secure the loan, a Fixed Deposit

Certificate of the son of the petitioner was offered as

a collateral security. Due to financial indiscipline, the

loan account was declared NPA and recovery process

initiated under the SARFAESI Act, 2002 by issuance

of a Demand Notice recalling the outstanding liability

of Rs.9,51,977/-.

3. By filing the present writ petition, a direction has

been sought for settling the loan amount through an

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OTS or any Waiver Scheme for at least exempting the

payment

of

the

interest

com