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Judgment
The petitioner is the proprietor of S.K. Aqua Solution Enterprises against whom recovery process under the SARFAESI Act, 2002 (for short “the Act, 2002”) has been initiated by issuance of demand notice dated 06.09.2022 under Section 13(2) of the Act, 2002 for the defaults of payment in an overdraft facility and a term loan resulting into both the accounts being declared NPA and thus recall of an aggregate amount of Rs.20,05,775.75/- due as on 05.09.2022 in both the accounts.
Challenge in the present Writ Petition is to the aforesaid demand notice with a further prayer for directing the Axis Bank, Mandiapali Branch, Gopalpur, Dist- Ganjam to restructure the accounts.
At the time of hearing, learned counsel for the petitioner prays for an unconditional withdrawal of the Writ Petition in view of the OTS application filed by the petitioner pending consideration with the Bank. 4. A Memo dated 09.01.2023 of withdrawal is filed in the Court and the same be placed on record. 5. In view of the Memo filed, the Writ Petition is dismissed as withdrawn.
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