Akshay Kumar Udaysingh and another Vs Regional Manager (Orissa High Court)
The writ petition was heard through a hybrid mode comprising video conferencing and physical appearance. The petitioners sought several reliefs from the Court. They requested admission of the writ petition and issuance of notice to the opposite parties. They further sought quashing of a letter dated 30.10.2025 issued by the Chief Manager and Authorized Officer of the Bank of India, as well as an auction sale advertisement published on 05.11.2025 in an Odia newspaper. They also asked for directions to recalculate the outstanding dues of Petitioner No.1 under the One-Time Settlement (OTS) Scheme as per a Bank of India circular dated 09.08.2023, without calculating interest from 01.11.2022, which was the date the account became a Non-Performing Asset. Additional relief sought included closure of the Cash Credit and Term Loan accounts by issuing a No Dues Certificate, and release of the mortgaged property to Petitioner No.2 after receipt of the settled loan amount.
The petitioners’ counsel informed the Court that an Original Application relating to the dispute is already pending before the Debts Recovery Tribunal (DRT) at the instance of the Bank of India. The Court referred to several Supreme Court decisions addressing the scope of High Court intervention under Article 226 when a statutory remedy is available under the SARFAESI Act.
