Authority: High Court of Orissa at Cuttack
Order Date: 10 July 2026
Case Overview
- Petitioner: Chaitanya Charan Sahoo filed writ petition WP(C) No.20824 of 2026 against IDFC First Bank Ltd., seeking to prevent release of his vehicle (registration OD-29-M-4926) to the auction purchaser, alleging he was not given a hearing before auction.
- Bank’s position: The vehicle was auctioned on 25 June 2026 for Rs 19,65,000, but possession has not been handed over to the purchaser and the vehicle remains in the bank’s stockyard.
- Petitioner's offer: He is ready to pay Rs 20,00,000 to cancel the auction sale and have the vehicle restored.
- Court observations: Ownership remains in petitioner’s name; auction purchaser not made a party to the petition; possession not yet transferred.
Final Outcome
- The court permits the petitioner to deposit Rs 20 lakh with the bank within fifteen days (by 25 July 2026). Upon deposit, the vehicle may be restored to him after completing formalities.
- If any balance differential remains after the Rs 20 lakh payment, the petitioner must pay it in up to six installments over six months as agreed with the bank.
- The writ petition is disposed of.
Topics: Vehicle Auction, Banking Litigation, Court Order