SRI JAGANNATH INFRA POWER PVT. LTD. v. A. O. STATE BANK OF INDIAN
2017-09-20
DEBABRATA DASH, S.C.PARIJA
body2017
DigiLaw.ai
JUDGMENT : S.C. Parija, J. - Heard learned counsel for the petitioner and Mr. D. P. Sarangi, learned counsel for the opposite parties parties-Bank. 2. This writ petition has been filed challenging the demand notice dated 09.06.2017 under (Annexure-3) issued by the opposite parties-Bank under Section 13(2) of the SARFAESI Act for recovery of the loan dues with a prayer to direct the opposite parties-Bank not take any coercive action in respect of the mortgaged property. 3. Learned counsel for the petitioner submits that pursuant to the notice dated 09.06.2017 under Annexure-3, the petitioner has submitted his response vide its letter dated 10.08.2017 (Annexure-4) praying for regularization of the loan account. It is submitted that the said reply/response of the petitioner has not been considered by the opposite parties Bank till date. It is further submitted that the petitioner had deposited an amount of Rs. 26.00 lakhs with the opposite parties-Bank pursuant to the interim order of this Court dated 21.08.2017. 4. Learned counsel for the opposite parties-Bank does not dispute the factual position regarding the deposit of Rs. 26.00 lakhs in terms of the order dated 21.08.2017. It is submitted that he has no objection, if the reply/response of the petitioner to the notice of the Bank issued under Section 13(2) of the SARFAESI Act is directed to be disposed of the same within two weeks hence. 5. In view of the above, the writ petition is disposed of directing the opposite parties-Bank to consider and dispose of the petitioner's reply/response dated 10.08.2017 under Annexure-4, in accordance with law, if the same is still pending, within a period of two weeks hence. No coercive action shall be taken against the petitioner for recovery of the loan dues. 6. Issue urgent certified copy as per rules.