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Judgment
Petitioner is a Non-Banking finance company engaged in the business of providing loans to the applicants. In the present case, the petitioner is stated to have disbursed an aggregate amount of Rs.45,00,000/- as loan sanctioned on 25.01.2018 to Mr. Bibhuti Bhushan Ratha and his wife/Opposite Party Nos.2 & 3. Due to default in payment of installments, the loan account was classified as NPA on 10.05.2021 leading to issuance of demand notice dated 14.07.2021 under Section 13(2) of the SARFAESI Act, 2002 (for short “the Act, 2002”) recalling an outstanding liability as on that date to the tune of Rs.25,53,204/-within 60 days from the date of receipt of notices.
The grievance made in the present Writ Petition is that inspite of expiry of six months from date of the application under Section 14 of the Act, 2002 moved on 26.07.2022, the District Magistrate, Khurda/ Opposite Party No.1 has not yet decided the same.
Upon notice, Mr. P.K. Mohanty, learned Additional Standing Counsel has appeared and upon instructions states that the petitioner/finance institution has not submitted original documents for verification in the pending aforesaid application. He further states that upon receipt of the original documents, the required order in accordance with law shall be passed positively within next four weeks.
In view of the aforesaid stand of the Opposite Party No.1, learned counsel for the petitioner does not want to press this Writ Petition.
In view of the above, the Writ Petition is dismissed as not pressed.
It is hoped that the District Magistrate, Khurda shall abide by the timeline as projected.
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