Hi High Court
Case Details
Signature Not Verified Digitally Signed Signed by: SUMITRA NAYAK Designation: Jr. Stenographer Reason: Authentication Location: High Court of Orissa, Cuttack Date: 09-Oct-2024 20:06:19 IN THE HI HIGH COURT OF ORISSA AT CUT UTTACK W.P.(C) No.25610 of 2013 Dinabandhu P u Panda -versus- Zonal Manage of India and & &Ors. ager, Reserved Bank ….
Legal Reasoning
Petitioner P nted By Adv. Represented Ku. Nayak-1 Mr. Srikanta Ku r. S.K. Sahu Mr. Opposit site Parties nted By Adv. Represented Ranjan Dash Mr. Ajodhya Ran .Ps.4 and 5) (for O.P . R.K. Samal Mr. R (for O.P.1) (f
Decision
Order No. 02. CORAM: DR.JUSTICE ICE S.K. PANIGRAHI ORDER 24.09.2024 1.This matter ter is taken up through hybrid arrange ngement. 2. Heard learn arned counsel for the Parties. 3. The Petiti etitioner has filed this Writ Petitio tition with the following pra prayer:- “The P Court b writ Pe hearing issue a Petitioner therefore prays that this H rt be kind and gracious enough to adm Petition, issue notices to Opp. Parties ing the counsels for both the parties be ple e a writ in the nature of mandamus or an s Hon’ble admit this ties, after pleased to any other Page 1 of 5 Signature Not Verified Digitally Signed Signed by: SUMITRA NAYAK Designation: Jr. Stenographer Reason: Authentication Location: High Court of Orissa, Cuttack Date: 09-Oct-2024 20:06:19 // 2 // suitable immedi deposite Accoun by this orders a And for bound s able writ directing the Opp. Parties t ediate steps for release of all the a sited in the S.B. Account and fixed D unts with interest within stipulated tim his Hon’ble Court and pass any other o rs as this Hon’ble Court deem just and pr for this act of kindness the petitioner as i d shall ever pray.” s to take e amount d Deposit time fixed r order or proper. as in duty 4. At the outs outset, learned counsel for the Petitio titioner submits that this Cour ourt has earlier decided the similar is r issue vide the order dated 1 d 11.09.2024 passed in W.P.(C) No.1 15690 of 2015 (Bichitranand anda Lenka–vrs.- Union of India & O & Ors.). Hence, he submits th s that this Writ Petition may be dispo sposed of in the light of the or order passed in the case of Bichitran trananda Lenka (supra). 5. Both the lea earned counsel for the Opposite Par Party No.1 and learned couns unsel for the Opposite Party Nos.4 a .4 and 5 submit that they hav have no objection, if this matter is dis disposed of in the light of th f the order passed in the case of Bi Bichitrananda ra). Lenka (supra) 6. On perusal sal of the records and the order passe ssed in the case of Bichitranan nanda Lenka (supra), it appears that s at similar issue has already b y been decided by this Court in the the said order which was di s disposed of on 11.09.2024. The orde rdering portion of the said ord order is extracted as follows. Page 2 of 5 Signature Not Verified Digitally Signed Signed by: SUMITRA NAYAK Designation: Jr. Stenographer Reason: Authentication Location: High Court of Orissa, Cuttack Date: 09-Oct-2024 20:06:19 // 3 // “ xx xx 12.Now 05.02.4 has ad deposit insura is prod x xx xx xx Now, vide the letter Ref.No.DICGC/CS 02.427/2018-19 dated 15.06.2018, the D advised that the allocated amount osit’s insurance be used to settle eligible urance claims. The relevant portion of th roduced hereinbelow: CSD/812/ e DICGC t against ble deposit f the letter ttled 2. In this connection, we advise having settled “2 teen an amount of 15,16,59,365.17 (Rupees Fifteen an hree cr crore sixteen lakh fifty nine thousand thre ) to hundred sixty five and paise seventeen only) t hu osit 6446 claims towards the eligible deposi 64 ent in insurance claims, as indicated in the statemen ake 'A' enclosed and you are advised to mak 'A the payment to the eligible depositors from th pa , as liq liquid funds available with you. Further, a oted indicated in Statement 'A', it may be noted in c on that the claims in respect of dormant a/c on th t be ac account of reconciliation difference will not b paid by the Corporation. pa ned 3. It may be noted that aforesaid sanctioned 3. nds am amount is to be paid out of liquid fund available with you which should be strictly ictly av t to utilized for the specific purpose of payment t ut eligible depositor.” eli 13.In hereby appoin toward shall eligible respect the di availab accoun ent, it is In light of the aforementioned settlemen or official eby directed that the liquidator or amount ointed shall allocate the specified a The funds ards the settlement of deposit claims. The mong the ll be distributed proportionately amon their ith in accordance with ible depositors record of pective claims. Additionally, a detailed re and made distribution must be maintained and rency and ilable for review to ensure transparenc ountability in the settlement process. Page 3 of 5 Signature Not Verified Digitally Signed Signed by: SUMITRA NAYAK Designation: Jr. Stenographer Reason: Authentication Location: High Court of Orissa, Cuttack Date: 09-Oct-2024 20:06:19 // 4 // to In response 14.The novo a settlem instabi safety, deposit per dep This e greater econom confide ensurin deposit failed b 15. Ac official deposit prefera of the c 16. Th aking a de The Opp. Parties may also consider makin extended o application to the DICGC for an ex financial fin lement schema. ut deposit tability and increasing concerns about aised the ty, the DICGC has significantly rais to ₹5 lakh osit insurance coverage from ₹1 lakh to r 2020-21. depositor, effective from the fiscal year 20 o provide s enhancement was implemented to p ation and ater protection against rising inflatio depositors’ nomic uncertainty, thereby boosting dep savings by fidence and safeguarding individual savi ilure, each uring that, in the event of a bank failur nts in the ositor’s total balance across all accounts ed bank is insured up to ₹5 lakh. Accordingly, the liquidator or the app cial is directed to look after the settlem in a reasonable tim ositors’ claims ferably within 6 months from the date of he copy of this order. This Writ Petition is, accordingly, dispos appointed tlement of timeframe; of receipt posed of.” 7. In such vie view of the matter, this Writ Petition tion is disposed of directing th g the liquidator or the appointed off official to look after the settl settlement of Petitioner’s claims in a in a reasonable timeframe; pr ; preferably within a period of six m months from the date of rec receipt of a copy of this order. (Dr. S.K. Pan Judg Panigrahi) udge Page 4 of 5 // 5 // Signature Not Verified Digitally Signed Signed by: SUMITRA NAYAK Designation: Jr. Stenographer Reason: Authentication Location: High Court of Orissa, Cuttack Date: 09-Oct-2024 20:06:19 Sumitra Page 5 of 5