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Judgment
Petitioner, a registered Society running a DANIELS Public School in Brajaraj Nagar, District-Jharsuguda had raised a Term Loan for a sum of Rs.1,15,00,000/- in the month of October, 2011 from Punjab National Bank, Brajaraj Nagar, District-Jharsuguda. It appears that due to non-payment of the installments, the Bank vide Memo dated 28.08.2014 (Annexure-4) requested the petitioner to make payments regarding the overdue amount of Rs.34,36,300/- for regularizing the loan account.
The prayer made in the present writ petition is for modifying the terms and conditions of the Term Loan by way of restructuring the monthly installments.
On perusal of the record reflects that since the filing of the writ petition in the year 2014 neither anyone had appeared for the petitioner nor any notice was issued. However, Mr. Tuna Sahu had appeared on 29.11.2014 for the purpose of seeking instructions.
None has put in appearance at the time of argument today.
It appears that by efflux of time, the petitioner had lost interest in pursuing the present writ petition.
In view of the above, the writ petition is dismissed.
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