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Judgment
6 paragraphs · 154 wordsThis matter is taken up through hybrid arrangement (virtual/physical mode).
The petitioner is stated to have availed a Cash Credit facility for a sum of Rs.5,00,000/- from United Bank of India, Kusupur Branch on 26th April, 2010.
Due to non-servicing of the C.C. account No.0656250022394, it was declared as NPA and a Demand Notice under Section 13(2) of the SARFAESI Act, 2002 was issued on 8th May, 2012 recalling the outstanding liability for a sum of Rs.4,76,700/-only due as on 30th April, 2012. The proceeding thereafter lead to issuance of a Sale Notice dated 7th August, 2012 seeking to auction the mortgaged properties.
At the time of hearing, learned counsel for the Petitioner prays for permission to withdraw the Writ Petition as upon payment of the required amounts, the loan account has since been closed.
In view of the above, the Writ Petition is disposed of as infructuous.
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