Disposed

Laxmipriya Sahoo v. Reserve of Bank of India

Orissa HC1 Feb 2021WP(C)/28769/2020

Case brief

AI extract

What is this about?

The court entertained a writ petition filed by a petitioner apprehending the seizure of her truck by a private finance company for non-payment of installments, despite initial non-maintainability against a private entity.

What did the court decide?

Petitioner granted protection from seizure if 50% of dues deposited within four weeks and undertaking for rephased EMI payments filed.

Laxmipriya Sahoo Vs Reserve of Bank of India — Service and Employment | Orissa HC (2021)

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W.P.(C) No.28769 of 2020

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01.02.2021 Due to outbreak of COVID-19, this matter is taken up through Video Conferencing.

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Heard Mr. T.K.J. Samanta, learned counsel for the petitioner.

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The petitioner has filed this writ petition apprehending forceful seizure of the vehicle bearing Registration No.OD-09B-2915 (Truck) by opposite party No.3-Branch Manager, Hinduja Leyland Finance Ltd., Jagatsinghpur.

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Mr. Samanta, learned counsel for the petitioner submits that due to non-payment of regular installments with regard to the aforesaid vehicle, the petitioner apprehends seizure of the vehicle in question by opposite party No.3 without following the guidelines given by the Hon’ble Supreme Court in ICICI Bank Ltd.- Vs.-Prakash Kaur and others , reported in (2007) 2 SCC 711.

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In course of hearing, learned counsel for the petitioner submits that the petitioner is ready and willing to pay 50% of the total outstanding loan dues as on date and in that event her vehicle may not be seized. He also undertakes to pay the monthly installments regularly on rephasement of her loan account.

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The writ application against a private finance company is not maintainable in view of the ratio decided in Federal Bank Ltd-vs-Sagar Thomas & Ors , reported in 2003(III) CLR 801 . However, since the petitioner is ready and willing to pay 50% of the total outstanding loan dues as on date, this Court entertains the writ petition.

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Taking into consideration the submission of learned counsel for the petitioner as well as the pandemic of COVID-19, this Court disposes of the writ petition with a direction that in the event the petitioner deposits 50% of the total outstanding loan dues as on date, within a period of four weeks hence, the vehicle bearing Registration No.OD-09B-2915 shall not be seized. The petitioner shall also file an undertaking before opposite party No.3 to pay the monthly installments regularly on rephasement of the rest of the loan dues. The petitioner shall be provided with details of outstanding loan dues within two days from the date of filing of an application to that effect. The rest of the outstanding loan amount will be settled on rephasement basis keeping in mind the Regulatory Package issued by the Reserve Bank of India on 21st May 2020 during the pandemic situation of COVID-19.

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7.1 It is made clear that on failure on the part of the petitioner to pay the installments regularly after rephasement, the opposite party No.3 would be at liberty to take over possession of the vehicle in question.

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7.2 Authenticated copy of this order downloaded from the website of this Court in the manner prescribed in this Courts Notice No.4587 dated 25.03.2020 shall be treated at par with the certified copy of this order.

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……..……………………

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K.R. MOHAPATRA,J.

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Laxmipriya Sahoo v. Reserve of Bank of India

Case brief

What is this about?

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Laxmipriya Sahoo v. Reserve of Bank of India

Case brief

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