p. 1 IN THE HIGH COURT OF ORISSA AT CUTTACK W.P.(C) No.12046 of 2026 Biswajit Das …. Petitioner Mr. A.K. Biswal, Advocate -Versus- Union Bank of India, represented through the Regional Manager, Bhubaneswar and others …. Opposite Parties Mr. Tuna Sahu, Advocate for Bank CORAM: JUSTICE KRISHNA S. DIXIT JUSTICE CHITTARANJAN DASH Order No. 01. ORDER 23.04.2026 Petition prayer reads as under: “It is, therefore, prayed that, in the interest of justice this Hon'ble Court may graciously be pleased to admit this Writ Application, issue Rule Nisi calling upon the Opp-parties to show cause as to why the action of the Opp. Parties in taking step under the SARAFESI act against the petitioner shall not be quashed declaring the same as illegal and arbitrary and as to why the opp.parties shall not be directed to settle the loan account of M/S. Shree Rameswar Traders where the petitioner is a guarantor by allowing reasonable time to the petitioner to repay the same; And if the Opp.parties failed to show cause or show insufficient cause/irrelevant cause, than make the said rule Nisi absolute;” 2. Learned counsel appearing for the Petitioner submits that now the scheduled auction having not materialized, liberty be reserved to the Petitioner to make a representation to the Bank offering to settle the outstanding once for all by granting easy installments. p. 2 3. Learned Panel Counsel-Mr. Sahu, on request, appearing for the Bank submits that if such a representation is made, there would be no difficulty for considering the same in accordance with the extant RBI guidelines. This is appreciable. In the above circumstances, Writ Petition is disposed off. If representation is made within one week, the Bank shall consider the same in accordance with law within four weeks. All contentions of the parties are kept open. Web copy of order to be acted upon by all concerned. (Krishna S. Dixit) Judge ( Chittaranjan Dash ) Judge Anisha Designation: Jr. Stenographer