RAJESH KUMAR SAHOO Vs. RECOVERY OFFICER

JUDGEMENT

(1.) Petitioner-Rajesh Kumar Sahoo along with his father-Debendranath Sahoo had stood as guarantors for a Cash Credit facility availed by M/s. S. Enterprise, a proprietorship concern of Nalini Bihari Mohapatra. Due to non-servicing of the account, the loan availed by the proprietorship concern was classified as NPA and recovery process initiated by the secured creditor/UCO Bank, Saheednagar Branch, Bhubaneswar by filing an Original Application bearing No.O.A.60 of 2007 before the Debts Recovery Tribunal, Cuttack, which resulted into passing of a decree dtd. 25/9/2007. The property owned by the petitioner which was offered as collateral security by creation of an equitable mortgage was attached by the Recovery Officer in the execution proceedings for realization of the decretal amount.

(2.) By filing the present Writ Petition, challenge has been laid to the order dtd. 29/6/2022, whereby the Recovery Officer has ordered the decree holder in liaison with the Tahasildar, Kendrapara and the Court Commissioner to undertake a fresh and proper demarcation of the property liable to be sold towards realization of the decretal amount.

(3.) At the time of hearing, learned counsel for the petitioner is unable to refute that an alternative remedy against the order of a Recovery Officer is available under Sec. 30 of the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.