Disposed

Mohan Kumar Nayak v. Regional Manager, Rbi, Angul

Orissa HC2 Sept 2023WP(C)/19651/2023

Case brief

AI extract

What is this about?

In a writ plea, the petitioner sought installment repayment of an electric/electricity loan due to COVID-19 constraints. The Court directed the petitioner to pay the entire outstanding amount within seven days and the bank to consider the same.

What did the court decide?

Petitioner directed to pay the entire loan amount with interest within seven days; Bank directed to consider the same in accordance with law.

Mohan Kumar Nayak Vs Regional Manager, Rbi… — Contract and Commercial Disputes | Orissa HC (2023)

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IN THE HIGH COURT OF ORISSA AT CUTTACK W.P.(C) No.19651 of 2023

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Mohan Kumar Nayak …. Petitioner

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Mr. B. M. Sarangi, Adv.

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-versus-

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…. Regional Manager, R.B.I., Opposite Parties Angul & Anr.

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Mr. Tuna Sahu, Adv.

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CORAM:

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DR. JUSTICE S.K. PANIGRAHI

Order No.

ORDER 22.02.2024

1 . This matter is taken up through hybrid arrangement.

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2 . The Petitioner has filed this Writ Petition seeking direction from this Court to the Opposite Party No.2 to dispose of the representation dated 11.04.2023 and allow the rephasement of the loan amount in installment basis.

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3 . Heard learned counsel for the Parties.

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4 . The brief fact of the case is that the Petitioner availed a loan Rs.10,00,000/-(Rupees Ten Lakh) out of which the Petitioner paid Rs.14.03,992/- and only the interest part is pending. On 14.03.2023 the Petitioner already paid Rs.20,000/- to the Opposite Party No.2. Due to Covid-19

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the Petitioner was not able to pay the balance loan amount. For which, the Petitioner made a representation

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Page 1 of 2

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// 2 //

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dated 11.04.2023 before the Opposite Party No.2 to pay the outstanding dues of Rs.10,58,487/- by 30 installments. The Petitioner finding no other speedy and efficacious remedy is constrained to approach this Court.

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5. Learned counsel for the Opposite Parties/Bank, submits that Rs.1,32,000/(Rupees One Lakh Thirty-Two Thousand) outstanding amount is pending against the Petitioner as on today.

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6. Learned counsel for the Petitioner submits that he is ready and willing to pay Rs.1,32,000/- (Rupees One Lakh Thirty-Two Thousand) as on today. But he wants seven days time to pay the entire loan amount along with interest to be fixed on the date of payment.

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7. Considering the facts and submissions, the Petitioner is directed to approach the Opposite Party No.2/Odisha Gramya Bank, Angul and pay the entire loan amount within seven days along with the interest to be fixed on the date of payment and the Opposite Party No.2/Odisha Gramya Bank, Angul shall consider the same in accordance with law.

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8. Accordingly, the Writ Petition is disposed of.

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Signature Not Verified

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(Dr. S.K. Panigrahi)

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Digitally Signed Signed by: SUMITRA NAYAKDesignation: Jr. Stenographer Judge Reason: Authentication Sumitra Location: High Court of Orissa, Cuttack Date: 26-Feb-2024 19:54:57

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Mohan Kumar Nayak v. Regional Manager, Rbi, Angul

Case brief

What is this about?

What did the court decide?

Mohan Kumar Nayak v. Regional Manager, Rbi, Angul

Case brief

What is this about?

What did the court decide?

What the court decided

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