ORDER

1. Leave granted.

2.The appellants, who defaulted in the payment of loan to the respondent a Bank, approached the Bank for settlement in terms of the One-Time Settlement Scheme evolved by the Bank in accordance with the guidelines of Reserve Bank of India. The appellants moved the High Court of Andhra Pradesh for a direction to consider their representation. That was a stage when the recovery proceedings were set in motion pursuant to the order passed by the Debts Recovery Tribunal. The High Court having directed to deposit a sum of Rs 25 lakhs gave an interim direction to consider the appellants representation. The respondent Bank then sent a reply on 23-72003 to the appellants stating that the appellants were liable to pay an amount of Rs 1,21,46,273.84p. as on 20-7-2003, that the guidelines relating to onetime settlement have no application to the instant case and that after taking into account certain relevant factors, the respondent Bank was prepared toreceive a sum of Rs 1.10 crores payable as per the instalments specified in the communication. Thereafter, the High Court passed the impugned order almost in terms of the offer made by the Bank as per its communication. Th