Authority: High Court of Odisha, Cuttack
Order Date: 07.08.2026
Case Overview
- Petitioner: Konark Enterprises, Jajpur, represented by Advocate Amiya Kumar Tarai.
- Opposite Parties: Authorized Officer, HDFC Bank Limited, Bhubaneswar and another.
- Writ petition (WP(C) No.24994 of 2026) filed seeking release of the hypothecated vehicle repossessed by the bank, a 30‑day extension to repay overdue amount, and re‑phrasing of the loan.
- Facts: Loan taken to purchase a vehicle; regular EMIs paid up to March 2026; default thereafter; bank issued notice on 30‑06‑2026 demanding full repayment; petitioner did not approach bank for settlement.
- Petitioner offered to pay the entire overdue amount in one go and requested the bank to allow regular EMI payments thereafter.
Final Outcome
- Court disposed the writ at the admission stage, granting liberty to petitioner to approach the bank with a proposal to pay the overdue amount in one go.
- Petitioner must deposit the overdue amount within four weeks from the order date; upon receipt, the bank shall refresh the loan account and re‑fix the monthly instalment.
- The bank may release the hypothecated vehicle after the petitioner makes an application, provided the overdue amount is fully paid within the stipulated period.
- Any further default by the petitioner will permit the bank to proceed against him in accordance with law.
Topics: Banking, Vehicle Financing, Legal Relief