Authority: High Court of Odisha at Cuttack
Order Date: 27 October 2026
Case Overview
- Petitioners: Siba Narayan Chottaray and another (represented by Advocate R. K. Rout on behalf of Mr. A. K. Behera) filed writ petition W.P.(C) No.8410 of 2026 against UCO Bank, Saheed Nagar, Bhubaneswar and another.
- The petitioners had deposited Rs.4,90,467 pursuant to the Court’s earlier order dated 23 March 2026.
- The dispute concerns the pending execution of a secured asset; the petitioners seek to prevent its auction while S.A. No.223 of 2025 is pending before the Debt Recovery Tribunal (DRT), Cuttack Bench.
- The Bank, represented by Advocate S. K. Mishra, contended that the auction could proceed.
Final Outcome
- The Court disposed of the writ petition, permitting the petitioners to continue their remedies before the DRT in S.A. No.223 of 2025.
- The DRT is directed to dispose of the pending S.A. within three months from the date of this order.
- Until the DRT disposes of the matter, the Bank is barred from conducting the auction of the secured asset.
- An urgent certified copy of the order shall be issued upon proper application.
Topics: Banking, Debt Recovery