Authority: High Court of Odisha at Cuttack
Order Date: 23 June 2026
Case Overview
- Petition: W.P.(C) No.18354 of 2026 filed by M/S RAM AWATAR SHARMA, Keonjhar & Others (Petitioners) represented by Advocate Mr. T. Pattanayak.
- Respondents: State Bank of India, Keonjhar & Another, represented by Advocate Mr. P. Dash.
- Issue: Petitioners challenged the coercive proceedings initiated by the bank under Section 14 of the SARFAESI Act, 2002, alleging non‑repayment of an outstanding loan.
- Contentions: Petitioners cited a 2012 cancer illness of a spouse and offered a pre‑deposit of 10% of the dues, seeking a reprieve. The bank’s counsel, Mr. Pratik Dash, emphasized repeated opportunities given to the borrowers and argued that the petitioners have an alternate remedy under Section 17 of the Act.
- Judicial Panel: Justice Krishna S. Dixit and Justice Chittaranjan Dash.
Final Outcome
- The Court disposed of the petition, directing the parties to pursue the alternate remedy under Section 17 of the SARFAESI Act.
- A limited reprieve of two weeks was granted, during which the coercive proceedings are to be stayed.
- All contentions remain open; the order clarifies that nothing herein should be construed by the Debt Recovery Tribunal (DRT) while considering the main matter or the request for reprieve.
- If the two‑week reprieve is not invoked, the bank is free to proceed with the coercive measures as per law.
- The order is to be acted upon by all concerned parties.
Topics: SARFAESI Act, Banking Litigation