WP filed by guarantors with respect to an NPA account and SARFAESI proceedings. Pending petition settled bank accepted full payment by 22.01.2022. Court dismissed writ as withdrawn.
Petition dismissed as withdrawn upon settlement and payment commitment by the parties.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
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GAHC010112262021
THE GAUHATI HIGH COURT (HIGH COURT OF ASSAM, NAGALAND, MIZORAM AND ARUNACHAL PRADESH)
Case No. : WP(C)/3477/2021
DIPIKA SHARMA AND ANR. W/O SRI PRAFULLA SHARMA HOUSE NO. 44, JANAPATH, NORTH JYOTINAGAR, VILLAGE- RAMASAHIL, GUWAHATI-781021, ASSAM
2: SRI PRAFULLA SHARMA SON OF RABI CHANDRA SHARMA HOUSE NO. 44 JANAPATH NORTH JYOTINAGAR VILLAGE RAMASAHIL GUWAHATI-781021 ASSA
VERSUS
INDIAN BANK AND 2 ORS.
ERSTWHILE ALLAHABAD BANK), SRCB ROAD, FANCY BAZAR, BRANCH, GUWAHATI, ASSAM-781001
2:M/S NECT GROUP OF INSTITUTIONS
PROPRIETOR MR. TILOK DAS GITA NAGAR
OPPOSITE OF GITANAGAR HIGH SCHOOL
MOTHER TERESA ROAD
GUWAHATI-781024.
3:SRI TILOK DAS S/O LATE SAMBHU RAM DAS
FLAT NO. 5D
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5TH FLOOR BARUAH ENCLAVE MOTHER TERESA ROAD HATIGARH CHARIALI GUWAHATI-78102
Advocate for the Petitioner : MR S SARMA
Advocate for the Respondent : MR D BHUYAN
BEFORE HONOURABLE THE CHIEF JUSTICE HONOURABLE MR. JUSTICE SOUMITRA SAIKIA
ORDER
Date : 05.01.2022
Heard Mr. S. Sarma, learned counsel for the petitioners. Also heard Mr. R.K. Bhatra, learned counsel for the respondent Bank.
The petitioners had stood as guarantors for a loan taken by the respondent No.3 from the Indian Bank. Since the amount was not repaid by the principal borrower, the account was declared as a Non Performing Asset (NPA) and proceedings were initiated under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). At this stage the petitioners had approached this Court.
Meanwhile, during the pendency of the writ petition, opportunity was given to the parties to have a One Time Settlement. This Court has been informed that a One Time Settlement has been reached between the parties and the entire amount has to be paid to the Bank by 22.01.2022.
In view of this new development, learned counsel for the petitioners submits that he may be permitted to withdraw this writ petition.
The writ petition is dismissed as withdrawn.
JUDGE CHIEF JUSTICE
Comparing Assistant
1 issue framed by the court
Whether the writ petition invoking SARFAESI proceedings for debt recovery should be allowed to be withdrawn upon settlement.
1 provisions across 1 enactments
Dipika Sharma and Anr
Indian Bank and 2 ORS
Soumitra Saikia
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
