Advocates:
['M/S A TRIPATHY', '', 'B MOHANTY', 'M/S AMIT KU NATH', '', 'H P MOHANTY']

W.P.(C) No.4570 of 2015

06. 12.05.2017 Heard learned counsel for the petitioner and learned counsel f

or the opposite parties-Bank.

This writ petition has been filed praying for a direction to t

he opposite parties-Bank to settle the loan account of the petitioner by way of one time settl

ement.

Learned counsel for the petitioner submits that the petitioner

had availed house building loan of Rs.3,00,000/- from the opposite parties-Bank in the year 2

007, for construction of his residential house. It is submitted that though the petitioner has

repaid some amount, due to acute financial stringency he could not pay the balance loan dues,

for which the Bank has initiated action under the SARFAESI Act. It is submitted that pursuant

to the interim order of this Court dated 09.4.2015, the petitioner has deposited Rs.2,00,000/

- with the Bank. It is submitted that the petitioner is ready and willing to deposit a substan

tial amount towards down payment against his outstanding loan account and shall file an applic

ation for one time settlement of the same, which may be considered sympathetically,