The court disposed of a writ petition filed by a petitioner who defaulted on bank loans. The petitioner was directed to file an O.T.S. application with a deposit. No coercive action was to be taken until the bank decides.
Direction to file O.T.S. application with deposit; no coercive action until bank decides.
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W.P.(C) No.14992 of 2016
02. 19.09.2016 Mr. G.D. Kar, learned counsel submits that he has inst
ruction to appear on behalf of the opposite party-bank in this matter and undertakes to file t
he vakalatnama to that effect within a week from today. Copy of this brief is served on him in
court today.
Heard learned counsel for both the parties.
Mr. Pradhan, learned counsel for the petitioner admits that the petiti
oner has defaulted in repayment of the banks due both for cash credit as well as term loan. He
submits that the petitioner proposes to make an application for O.T.S. before the opposite pa
rty-bank and is willing to deposit a sum of Rs.4,00,000/- along with such application.
In view of the submission made and after hearing the learned counsel a
ppearing for the opposite party-bank, we disposed of the writ application with direction to th
e petitioner that he shall file an application for O.T.S. before the opposite party-bank along
with the outstanding amount as undertaken within a period of four weeks from today and within
a further period of four weeks thereafter, the bank may take a decision on the same. Till a d
ecision is taken on the O.T.S. application, no coercive action shall be taken against the peti
tioner. If the petitioner fails to comply with this order, the bank is at liberty to proceed i
n the matter in accordance with law.
Urgent certified copy of this order be granted on proper application
..
I. Mah
anty,J.
.........
Biswajit Mohanty,J.
03. Misc. Case No.13988 of 2016
19.09.2016
In view of the order passed today in W.P.(C) No.14992 of 2016, this Mi
sc. Case is disposed of.
..
I. Mahan
ty,J.
.......
Biswajit Mohanty,J.
1 issue framed by the court
Whether to grant relief against coercive action in a writ petition regarding bank default and O.T.S. application.
Petitioner
Bank
I. Mahanty
Biswajit Mohanty
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court