Jnana Ranjan Sahoo Vs Uco Bank, Kolkata — Orissa HC (2025) — LawSathi Research

Jnana Ranjan Sahoo Vs Uco Bank, Kolkata — Orissa HC (2025) — LawSathi Research

What the court decided

AI extract

Outcome

No substantive relief; the writ petition was permitted to be withdrawn, the interim order dated 30.01.2025 in I.A. No.1461 of 2025 was vacated, and any OTS application filed within two weeks may be considered in accordance with law.

Issue for consideration

Whether the Opposite Parties-Bank should be directed to accept the outstanding amount to be deposited by the Petitioner and release the secured assets in favour of the Petitioner along with the original documents relating to the secured assets. +1 more

Ratio / Principle

The writ petition is disposed of as withdrawn, on the submissions made by learned counsel for the parties.

Key takeaways

The interim order dated 30.01.2025 passed in I.A. No.1461 of 2015 (year printed as '2015' in this paragraph, though cited as I.A. No.1461 of 2025 elsewhere) stands vacated.ratio¶21
An OTS application, if any, filed by the Petitioner within a period of two weeks may be considered in accordance with law.obiter¶22

Detailed headnote1 paragraphs

W.P.(C) No.2643 of 2025, High Court of Orissa at Cuttack (K.R. Mohapatra and S.K. Mishra, JJ.), order dated 11.02.2025: The Petitioner, Jnana Ranjan Sahoo, had prayed for a direction to the Opposite Parties-Bank (UCO Bank and others) to accept the outstanding loan dues and release the secured assets with their original documents, and for setting aside the auction sale notice dated 14.12.2024. By interim order dated 30.01.2025 in I.A. No.1461 of 2025, the Court had restrained delivery of possession of the secured assets to the auction purchaser subject to deposit of 50% of the total outstanding dues; the Petitioner could not comply, it being submitted that the outstanding dues exceeded the value of the secured assets. Senior counsel for the Petitioner thereupon sought withdrawal of the writ petition to pursue a one-time settlement (OTS) with the Bank, filing a memo to that effect, and counsel for the Banks raised no objection. The Court disposed of the writ petition as withdrawn, vacated the interim order dated 30.01.2025, and observed that any OTS application filed within two weeks may be considered in accordance with law.

IN THE HIGH COURT OF ORISSA AT CUTTACK

W.P.(C). NO.2643 OF 2025

Jnana Ranjan Sahoo

…. Petitioner

Mr. Prafulla Kumar Rath, Sr. Advocate being assisted by Mr. S. Chandan, Advocate

-versus-

UCO Bank and others

…. Opp. Parties

Mr. Sunil Kumar Swain, Advocate (Caveators)

CORAM:

JUSTICE K.R. MOHAPATRA JUSTICE SANJAY KUMAR MISHRA

ORDER

Order No.

11.02.2025

1. This matter is taken up through hybrid mode.

Petitioner in this writ petition prays for a direction to the Opposite Parties-Bank to accept the outstanding amount to be deposited by the Petitioner and release the secured assets in favour of the Petitioner along with the original documents relating to secured assets. The Petitioner also prays for setting aside the auction sale notice dated 14.12.2024.

The matter was listed on 30.01.2025, when this Court passed an interim order in I.A. No.1461 of 2025 directing that possession of secured assets of the Petitioner shall not be delivered to the auction purchaser subject to deposit of 50% of the total outstanding dues by the Petitioner as on that date.

It is submitted that the outstanding dues in respect of the loan account is more than the value of the secured assets.

Hence, the Petitioner could not comply with order dated 30.01.2025 passed in I.A. No.1461 of 2025.

At this stage Mr. Rath, learned Senior Counsel prays for withdrawal of the writ petition to pursue his remedy with the Bank requesting it for one time settlement and files a memo in support of his submission, which is taken on record. 6. Mr. Swain, learned Counsel for the Banks does not have any objection to the same. 7. It is further submitted that OTS application, if any, filed shall be considered in accordance with law.

Considering the submission made by learned Counsel for the parties, the writ petition is disposed of as withdrawn. 9. Interim order dated 30.01.2025 passed in I.A. No.1461 of 2015 stands vacated.

OTS application, if any, filed by the Petitioner within a period of two weeks hence may be considered in accordance with law.

(K.R. Mohapatra) Judge

(S.K. Mishra)

Banita

Judge

Signature Not Verified

Digitally Signed Signed by: BANITA PRIYADARSHINI PALEI Designation: SR. STENOGRAPHER Reason: AUTHENTICATION Location: HIGH COURT OF ORISSA, C UTT ACK Date: 12-Feb-2025 17:55:07

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