Disposed

Mangaraj Sahu v. Regional Manager, Rbi, Bbsr

Orissa HC14 Sept 2022WP(C)/23138/2022

Case brief

AI extract

What is this about?

The petitioner approached the court fearing seizure of his truck due to loan default. Citing a Supreme Court ratio, the court noted such petitions are generally not maintainable against private finance companies. However, considering the petitioner's willingness to pay 50% of dues amid the COVID-19 pandemic, the court entertained the petition.

What did the court decide?

Direction not to seize the truck if 50% of outstanding dues are deposited within four weeks.

Mangaraj Sahu Vs Regional Manager, Rbi, Bbsr — Service and Employment | Orissa HC (2022)

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IN THE HIGH COURT OF ORISSA AT CUTTACK

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W.P.(C) NO.23138 OF 2022

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Mangaraj Sahu

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…. Petitioner

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Mr. Braja Mohan Sarangi, Advocate

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-versus-

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Regional Manager, Reserve Bank of India, Bhubaneswar and another

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…. Opp. Parties

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CORAM: JUSTICE K.R. MOHAPATRA

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ORDER Order No. 14.09.2022

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This matter is taken up through hybrid mode.

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This writ petition has been field apprehending forceful seizure of vehicle of the Petitioner bearing Registration No.OD-09M-9266 (Truck).

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Learned counsel for the Petitioner submits that due to nonpayment of regular installments with regard to the aforesaid vehicle, the Petitioner apprehends seizure of the vehicle in question by the Opposite Party No. 2 without following the guidelines given by the Hon’ble Supreme Court in ICICI Bank Ltd. -v- Prakash Kaur and other s, reported in (2007) 2 SCC 711. He further submits that the Petitioner had not moved this Court earlier in respect of the aforesaid vehicle in relation to the loan amount in question.

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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, his vehicle may not be seized. He also undertakes to pay the monthly installments regularly on rephasement of his loan account.

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The writ petition against a private Finance Company is not maintainable in view of the ratio decided in Federal Bank Ltd. -v-

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Page 1 of 2

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// 2 //

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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 this 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-09-M-9266 (Truck) shall not be seized. The Petitioner shall also file an undertaking before the Opposite Party 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 21^st May, 2020 during the pandemic situation of COVID-19.

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It is made clear that on failure on the part of the Petitioner to pay the installments regularly after rephasement, the Opposite Party No. 2 would be at liberty to take over possession of the vehicle in question.

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Urgent certified copy of this order be granted on proper application.

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(K.R. Mohapatra) Judge

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bks

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Mangaraj Sahu v. Regional Manager, Rbi, Bbsr

Case brief

What is this about?

What did the court decide?

Mangaraj Sahu v. Regional Manager, Rbi, Bbsr

Case brief

What is this about?

What did the court decide?

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