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Judgment
This matter is taken up through virtual/physical mode.
The petitioner No.1 is stated to have availed a Cash Credit loan facility for a sum of Rs.2,00,000/- for business purposes and Housing Loan to the tune of Rs. 4,00,000/-from UCO Bank, Jagatsinghpur Branch in February, 2007. Due to financial indiscipline, the loan accounts were declared as NPA on 31st August, 2010 with outstanding dues of Rs.5,02,328/-.
By filing the present writ petition challenge has been laid to the Memo dated 13th March, 2014 (A-3) issued by the Bank rejecting the proposal of amicable settlement for a sum of Rs. 2,01,000/- towards full and final settlement of the outstanding dues in both the accounts, as against the outstanding dues of Rs.7.96 lakhs.
At the time of hearing, learned counsel for the petitioner submits that the present writ petition has become infructuous as subsequently the recovery process initiated under the SARFAESI Act, 2002 has been challenged by the petitioner by filing W.P.(C) No.40030 of 2021 which is stated to be pending.
In view of the above, the writ petition is dismissed as infructuous.
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