WP(C)/22543/2026 of PRASANTA KUMAR BISWAL Vs IDFC FIRST BANK LIMITED, CHENNAI on 17 August 2026

ORDER

17.08.2026 Order No.

02.

1. This matter is taken up through Hybrid mode.

2. Heard learned counsel for the Petitioner as well as learned counsel for the Opposite Parties-Bank. Perused the writ application as well as the documents annexed thereto.

3. The Petitioner has filed the present writ application with the following prayer: “It is therefore prayed that this Hon'ble Court may graciously be pleased to admit the writ petition, issue show cause notice to the Opp. Parties and after hearing may direct the Opp. Party No.2 to release the vehicle of the petitioner i.e Ashok Leyland Truck regd. No.OD- 35-H-2613, Engine No.PREZ704375 and

Chassis No.MB1NEVLD4RRPT0952 with immediate effect; AND Further prays to direct the Opp. Party No.3 to allow the petitioner to pay the defaulted EMI amount as on today in three (3) monthly installments; AND Further prays to pass any other order/orders, may passed as deemed fit and proper;”

4. Learned counsel for the Petitioner at the outset contended that the Petitioner, who had availed a loan from the Opposite Party-Bank, purchased a commercial vehicle was paying the installments regularly. He further submitted that due to some unavoidable reason the Petitioner could not pay the installments. As a result of which, the Bank has closed the loan account and has demanded a total amount of Rs.7,39,155/- as per the account statement generated on 14.07.2026 at Annexure-2 to the writ application. Learned counsel for the Petitioner at this juncture contended that the Petitioner is ready and willing to deposit the 50% of the entire outstanding amount upfront as has been indicated in the account statement dated 14.07.2026, at Annexure-2. Thereafter, the Petitioner shall make a prayer before the Bank to rephase the loan account and to pay the balance amount in installments.

5. Learned counsel for the Opposite Party-Bank, on the other hand, contended that as per his instruction the total outstanding as on date would be around rupees 8.6 lakhs. With regard to the discrepancy in the amount of the total outstanding, learned counsel for the Bank submitted that the instruction which has been received by him with regard to the outstanding includes the installment as is due and payable for the month of August, 2026. He further submitted that in the event the Petitioner deposits the 50% of the total outstanding and makes an application to the Bank to rephase the loan account, the same shall be duly considered by the Bank.

6. Taking into consideration the submissions made by the learned counsels appearing for the respective parties and on a careful analysis of the surrounding facts and circumstances, this Court deems it proper to dispose of the writ petition at the stage of admission by granting liberty to the Petitioner to deposit 50% of the outstanding amount as has been indicated in the statement dated 14.07.2026, at Annexure-2, and move an application for rephasing of the balance amount in installments within two weeks from today. In the event any such application is filed, the bank authorities shall consider the same subject to Petitioner depositing 50% of the total outstanding within two weeks. Thereafter the balance amount shall be paid within a month thereafter.

7. With the aforesaid observations/directions, the writ application stands disposed of.

Issue urgent certified copy of this order as per Rules.

( Aditya Kumar Mohapatra )

Judge

S.K. Rout

Digitally Signed Signed by: SANTANU KUMAR ROUT Reason: Authentication Location: High Court of Orissa, Cuttack Date: 18-Aug-2026 18:47:24 Signature Not Verified