Orissa High Court
Debashish Swain vs Idbi Bank Ltd. .... Opposite Parties on 13 September, 2021
Bench: S.K. Mishra, Savitri Ratho
IN THE HIGH COURT OF ORISSA AT CUTTACK
W.P. (C) No.26911 of 2021
Debashish Swain .... Petitioner
M/s. D. Mohanty, T.N. Choudhury,
A.K. Jena & P.R. Das, Advocate
-versus-
IDBI Bank Ltd. .... Opposite Parties
Mr. Gurudutta Kar, Advocate
For the Bank
CORAM:
JUSTICE S.K. MISHRA
JUSTICE SAVITRI RATHO
ORDER
13.09.2021 Order No.
01. 1. This matter is taken up through Hybrid mode.
2. Heard learned counsel for the petitioner and learned counsel for the Bank.
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3. Having heard learned counsel for the parties, we are of the opinion that this matter may be settled out of the Court in OTS Scheme. Hence, we give liberty to the petitioner to file OTS application for rephasement/resettlement/reschedule of the loan within a period of two weeks by making upfront deposit of Rs.8,50,000/-(Rupees eight lakhs fifty thousand) only before the opposite parties-Bank. On such event, his application shall be considered according to law and as per the guidelines of the Reserve Bank of India.
4. We hope and trust that if any representation is made by the petitioner with the upfront deposit mentioned above within the time stipulated the Bank shall not take any further coercive steps against him.
5. Urgent certified copy of this order be granted as per rules.
(S.K. Mishra) Judge (Savitri Ratho) Judge T.TUDU Page 2 of 2