The writ petition challenging a demand notice for recovery of loan dues was disposed of on withdrawal. The court granted liberty to the petitioner to approach the Bank for settlement under the OTS Scheme-2017 and vacated an interim order.
Liberty granted to approach Bank for settlement under OTS Scheme-2017; interim order vacated.
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W.P.(C) No.11972 of 2014
5. 8.9.2017 Heard learned counsel for the petitioner and learned c
ounsel for the opp.party-Bank.
This writ petition has been filed challenging the demand notice dated
12.5.2014 (Annexure-7) issued by the opp.party-Bank under section 13 (2) of the SARFAESI Act f
or recovery of the loan dues with further prayer to direct the Bank to settle the loan account
of the petitioner by way of One Time Settlement.
During course of hearing, learned counsel for the petitioner prays for
withdrawal of the writ petition with liberty to approach the Bank for settlement of the loan
account under the existing OTS Scheme-2017.
Granting such liberty, the writ petition is disposed of as withdrawn.
Interim order dated 4.7.2014 stands vacated.Issue urgent certified copy as per rules.S.C. Parija, J.
D. Dash, J.
Aks
2
1 issue framed by the court
Whether to grant liberty to petitioner to approach the Bank for settlement of loan account under existing OTS Scheme-2017 after withdrawal of writ petition.
1 provisions across 1 enactments
Petitioner
Bank
S.C. Parija
D. Dash
Aks
As recorded by the court registry
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