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Judgment
Petitioner along with her late husband are stated to have raised two Housing Loans of Rs.8 Lakhs sanctioned on 10.02.2004 and Rs.4.5 Lakhs sanctioned on 01.09.2006 from State Bank of India, Medical College Campus Branch, Berhampur, District-Ganjam.
Due to non-payment of the installments, the loan accounts were classified as NPA in September, 2014 leading to issuance of a demand notice dated 18.11.2014 under Section 13(2) of the SARFAESI Act, 2002 recalling the aggregate outstanding liability of Rs.10,60,381/- due as on 17.11.2014 together with further interest, incidental expenses, cost etc.
Challenge in the present writ petition is to the notice dated 07.05.2016 (Annexure-3), whereby symbolic possession of the secured asset has been assumed, with a further prayer for directing the Bank to settle the account under the One Time Settlement policy.
At the time of hearing, learned counsel for the petitioner states that the present writ petition has become infructuous due to closure of the loan account upon payment of the settlement amount.
In view of the above, the writ petition is dismissed as infructuous..
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