Authority: High Court of Odisha, Cuttack
Order Date: 19.09.2026
Case Overview
- Petition: WP(C) No.29873 of 2026, CNR No. ODHCO10708232026 filed by Ajay Kumar Nayak (Petitioner) against Canara Bank (Opposite Party).
- Counsel: Mr. Debabrata Rath for the petitioner; Mr. Bibekananda Udgata for the bank.
- Judges: Hon'ble Mr. Justice B. P. Routray and Hon'ble Miss Justice Savitri Ratho.
- Background: The petitioner is a defaulted borrower. The bank had scheduled auction of the secured asset comprising three parts. Property‑3, the petitioner’s residential house, was listed with a reserve price of Rs 13,30,000/-.
- Humanitarian consideration: The petitioner’s father is bedridden; the bank has left two rooms of the house unsealed, allowing the petitioner to reside there.
Final Outcome
- The court permits the petitioner to retain Property‑3 by depositing the full reserve price of Rs 13,30,000/- in two installments.
- First installment: Rs 7,00,000/- to be paid within seven days of the order.
- Second installment: Rs 6,30,000/- to be paid on or before 31.10.2026.
- Subject to receipt of the first installment, Property‑3 (land and building on Plot No. 690, Khata No. 472/1182, area 0.080 decimals, Mouza‑Angula) shall not be put to auction and shall be released to the petitioner.
- The fresh auction originally scheduled for 07.10.2026 is effectively stayed for Property‑3 pending compliance with the payment schedule.
- No objection from the bank on humanitarian grounds; the order is to be executed promptly, and an urgent certified copy of the order is to be issued.
Topics: Court Order, Banking, Insolvency