ARUN KUMAR BISWAL v. AUTHORISED OFFICER OF ICICI BANK LIMITED, KHURDA
Court: High Court of Orissa
Bench: MR. JUSTICE DIXIT K.S.,MR. JUSTICE CHITTARANJAN DASH
Judgment date:
Case summary
High Court of Orissa judgment dated 2026-04-09. ARUN KUMAR BISWAL v. AUTHORISED OFFICER OF ICICI BANK LIMITED, KHURDA. Read the judgment and case details on...
Judgment text
IN THE HIGH COURT OF ORISSA AT CUTTACK WP(C) No. 10418 of 2026 Arun Kumar Biswal …. Petitioner Represented by Adv. - Mr. A. Mishra, Adv. -versus- Authorised Officer of ICICI …. Opposite Parties Bank Limited, Khurda Represented by Adv. - Mr. Ramachandra Panigrahi, Panel Counsel for the Bank CORAM: JUSTICE KRISHNA SHRIPAD DIXIT JUSTICE CHITTARANJAN DASH ORDER 09. 04. 2026 Order No. 01. Petitioner being the borrower of a housing loan is knocking at the doors of Writ Court for assailing coercive action of recovery constituted under the provisions of SARFAESI Act 2002. 2. Learned counsel for the Petitioner submits that his client has some financial difficulties and therefore, he was not in a position to remit the repayment amount towards the loan in question and that now he is ready and willing to discharge entire loan liability if a reasonable period is granted.
He adds that, within a day or two his client would be remitting 30% of the outstanding and the remaining amount also would be remitted if easy installments are accorded. With this submission, learned Panel Counsel appearing for the Bank although initially opposed, now is agreeable subject to the condition that, should the Petitioner fail to adhere to the proposal, all coercive action should be permitted to be taken. With this, counsel for the Petitioner also cottons. In the above circumstances, petition is disposed off with the following directions: (i) Petitioner shall remit 30% of the outstanding amount within three working days reckoned from this day.
On remittance of 30%, the Bank shall deliver back peaceable possession of the security property by way of permissive occupation and it can physically take the possession of the property in the event the terms of this order are not complied with; (ii) The remaining 70% of the amount shall be remitted within an outer limit of three months as follows: (a) 25% within two weeks and another 25% within two weeks next following and remainder i. e. 20% within two weeks next following. If Petitioner fails to adhere to the directions above which are made broadly in terms of his own proposal, Bank will be at liberty to take all coercive action for recovery in accordance with law and in that connection all contentions are kept open. It is open to the Bank to move an application if any difficulty is encountered by it in delivering back or taking back of the possession of the property. The I. A. pales into insignificance. Web copy of order to be acted upon by all concerned.
(Krishna Shripad Dixit) Judge (Chittaranjan Dash) Judge Prasant Signature Not Verified Digitally Signed Signed by: PRASANT KUMAR SAHOO Reason: Authentication Location: Orissa High Court Date: 10-Apr-2026 10:21:35
Source: High Court of Orissa. Dataset: Dattam Labs. CC BY 4.0. Text extracted automatically; compare with the source PDF for layout and accuracy.