Bichitrananda Biswal vs Icici Bank Ltd.
2014 Latest Caselaw 274 Del

                               W.P.(C) No. 30 of 2014




                  Present :    Mr A.R Panda, Advocate for the petitioner.




02. 15.01.2014                This petition seeks quashing of recalling the loan
                 amount on account of default in payment of EMI.
                              Learned counsel for the petitioner submits that
                 the petitioner is willing to pay Rs.2,00,000/- (rupees two
                 lakhs) towards the outstanding EMI within two months
                 from today and make an application to the Bank for
                 regularizing the loan amount.
                              Without expressing any opinion on merits, we
                 direct that if the petitioner makes deposit as aforesaid and
                 files an application for regularization of the loan amount,
                 the Bank may take decision thereon in accordance with law
                 within one month and, till such decision is taken, the Bank
                 may not take coercive measures.
                              The petition is disposed of.
                              It is made clear that if the petitioner defaults in
                 making the deposit, this petition will be treated to have
                 been dismissed. It is further made clear that if the Bank is
                 aggrieved by this order, it will be at liberty to move this
                 Court.


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                                                                 A.K.Goel, C.J.

pcp

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                                                                 Dr. A.K. Rath, J.