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High CourtsSingle Bench(2023) 03 OHC CK 0037

M/s Sun Green Valleys Pvt. Ltd., BBSR & Another vs Axis Bank Ltd., BBSR

Orissa High Court · Decided on 6 March 2023

HON’BLE JUDGES
Dr S.K. Panigrahi, J
CASE NUMBER
Writ Petition (C) No. 6620 Of 2023

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Judgment

12 paragraphs · 340 words

Dr. S.K. Panigrahi, J

W.P.(C) No.6620 of 2023 & I.A. No.2930 of 2023

1.

This matter is taken up through Hybrid Arrangement.

2.

Heard learned counsel for the petitioner.

3.

Learned counsel for the petitioner submits that the petitioner no.1 availed a Bank loan of Rs.1,00,00,000/-towards term loan and another sum of Rs.1,00,00,000/-towards Over Draft facilities for their business. To avail the loan, the petitioner company mortgaged land and building situated at Mouza-Puri Sahar, Unit No.26, Bank Muhan appertaining to Khata No.88, Plot No.141 (Part) measuring an area of Rs.0.010 decimals of land out of total Ac.0.194 decimals and Ac.0.35 decimals out of Plot No.142, Kissam Gharabari. The petitioner company availed the loan in the year 2017. He further submits that during the total lock down, the hotel business at Puri suffered a lot. The hotel business was closed sometime in April, 2020 and reopened after one and half year. During the lock down, the petitioner no.1 paid the installments initially. But due to prolonged lock down, the petitioner could not pay the installments and the loan became NPA. The petitioner company through its Chairman, submitted a representation to the Bank for settlement of the loan accounts under OTS. Further the petitioner prayed to allow it to pay the offered amount within a period of ten months. Till date, no communication was ever made from the Bank.

4.

In such view of the matter, this Court is of the opinion that this matter requires consideration by this Court.

5.

Let notice be issued to the sole opposite.

6.

Learned counsel for the petitioner is directed to serve a copy of the brief on Mr. Rajeet Ray, learned counsel, who usually appears for the Axis Bank.

7.

List this matter on 14th of March, 2023. In the meantime, Mr. Ray is directed to obtain instruction from the Bank.

8.

In the interim, it is directed that no coercive action shall be taken against the petitioners till the next date.

9.

Issue urgent certified copy of this order on proper application.

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