Disposed¶18

M/S. Konark Electronix, Rourkela, Sundargarh v. Chief Manager Cum Authorized Officer, Bank of Baroda, Rourkela

Orissa HC25 Mar 2025WP(C)/8322/2025

Case brief

AI extract

What is this about?

Keywords: SARFAESI Act 2002 Section 13(2) demand notice; Section 13(3A) representation; Section 13(4) possession notice not issued; One Time Settlement (OTS) application dated 17.03.2025; Bank of Baroda Rourkela Authorized Officer; M/s. Konark Electronix; writ petition withdrawn/disposed; High Court of Orissa, Cuttack; W.P.(C) No.8322 of 2025; decided 25.03.2025; bench K.R. Mohapatra and S.K. Mishra, JJ. Use for tracing withdrawal practice where Section 13(4) step has not yet matured; carries no ruling on Section 13(2) notices.

What did the court decide?

Permission to withdraw the writ petition; neither the Section 13(2) notice nor the OTS-application relief was adjudicated. ¶18

M/S. Konark Electronix, Rourkela, Sundargarh Vs Chief… — Banking and Recovery | Orissa HC (2025)

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IN THE HIGH COURT OF ORISSA AT CUTTACK

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W.P.(C) NO.8322 OF 2025

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M/s. Konark Electronix, Rourkela …. Petitioner

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Mr. Piyusha Ranja Mishra, Advocate

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-versus-

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Chief Manager-cum-Authorized Officer, Bank of Baroda, Rourkela & others

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…. Opp. Parties

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CORAM:

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JUSTICE K.R. MOHAPATRA JUSTICE SANJAY KUMAR MISHRA

ORDER

Order No.

25.03.2025

1. This matter is taken up through hybrid mode.

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The Petitioner in this writ petition prays for the following reliefs:-

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“It is therefore, prayed that this Hon'ble Court would be graciously be pleased to; (a) Admit this writ petition; (b) Issue rule NISI thereby asking the opposite parties as to why the notice dtd.01.01.2025 issued u/s.13(2) of SARFAESI Act, 2002 under Annexure-5 shall not be quashed and if the opposite parties do not show cause or show insufficient cause then issue a writ of certiorari there quashing notice dtd. 01.01.2025 issued u/s.l3(2) of SARFAESI Act, 2002 under Annexure-5: c) And directing the bank authority to accept the OTS application dtd. 17.03.2025 vide Annexure-6 submitted by the petitioner and a period of three

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months may kindly be extended for repayment of entire the loan dues in the interest of justice and equity. And/or pass an appropriate order(s) as this Hon'ble Court deem think and proper.”

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In course of hearing, Mr. Mishra, learned Counsel for the Petitioner submits that till date notice under Section-13(4) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 has not been issued. Hence, he prays for withdrawal of the writ petition to file a representation under Section-13 (3A) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 before the Authorized Officer.

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In view of such submission made by Mr. Mishra, learned Counsel for the Petitioner, the writ petition is disposed of as withdrawn.

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(K.R. Mohapatra) Judge

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Prasant

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(S.K. Mishra) Judge

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Signature Not Verified

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Digitally Signed Signed by: PRASANT KUMAR PRADHAN Designation: Secretary Reason: Authentication Location: High Court of Orissa, Cuttack Date: 25-Mar-2025 19:16:38

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Page 2 of 2

M/S. Konark Electronix, Rourkela, Sundargarh v. Chief Manager Cum Authorized Officer, Bank of Baroda, Rourkela

Case brief

What is this about?

What did the court decide?

M/S. Konark Electronix, Rourkela, Sundargarh v. Chief Manager Cum Authorized Officer, Bank of Baroda, Rourkela

Case brief

What is this about?

What did the court decide?

Why is it important?

What the court decided

Issues for consideration

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Parties & counsel

Coram

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